The on-chain indexes continue to decline this week as Bitcoin closes the red weekly candle. The price for Avax has resumed to its weekly low of $28. Avalanche mainly focuses on subnet scaling solutions with several papers released for education, while KOLs frequently discuss subnet on Twitter. Not yet had the latest updates exploded this week.
Average Daily Transactions May 16 – May 22 on the Avalanche C-chain reach 331,672 transactions. Down 54.77% since last week (733,414). The number reached 417,578 at the peak of the data on May 16. And the lowest was on May 22, with 225,201 transactions. The index is currently fluctuating at a level that is equal to the year 2021, which is an exceptionally low level.
The Unique Addresses index is currently at 2,894,660 addresses. Last week, there were 2,611,623 addresses, indicating a 283,037 (+10.83%) rise. The daily increase rate remains at 14,124 addresses, Up 20% compared to last week (11,758).
The daily active address count has been consistent at 67,863 addresses over the previous seven days, Down from 82,342 last week (-17.58%). May 20 is the day with the most active addresses (96,038 addresses). A significant departure from the day with the lowest daily active address (50,465) on May 22.
Total Value Locked
The Total Value Locked has decreased to $6.52 billion from $8.14 billion, a dramatic drop of around 20.67% from the previous week. This is the lowest change among the top five ecosystems following a week of a significant market downturn.
Encentive & Avalanche Strategic Partnership
Encentive.io, as a Web3 infrastructure meta-platform, officially joins forces with Avalanche to provide the protocol with exclusive Web3 infrastructure, full technical support, and operational and maintenance services to flourish Avalanche ecosystem. Read more.
Avalanche is joining Graph Hack as a sponsor
June 3-5, come to Graph Hack at the Palace of Fine Arts in SF & build on The Graph alongside a bright community of web3 doers & dreamers. Read more.
The article “Scale with Subnets” is published
You have probably heard about the limitless promise of Web3 to overhaul everything from money to privacy to sports, culture, and community. The truth is that those of us building Web3 know its promise, but also its limitations. Most notably, the capacity of a single blockchain to absorb global traffic as Web3 migrates from niche communities to mainstream adoption. Read more.
Avalanche has hit the 690k Twitter followers milestone
Top Gainers and Losers
As of 20 May, 7:00 AM UTC, several core functions of the Crabada Idle-Game and marketplace on the Avalanche C-Chain will be discontinued as we continue to migrate our player-base onto Swimmer, and make the transition from a Play-to-Earn game to a Play-and-Earn game. Read more.
DeFi Kingdoms (DFK) Duel, Pets, & Dev Updates!
May the peace of Gaia comfort you! We bring tales of the dev team’s travails this week in another edition of the DeFi Kingdoms Dev Update! Read more.
Announcing Platypus’ Factory Pool
We are excited to announce the launch of our Factory Pool. It’s going live on the 24th of May at 930 am UTC. Three tokens will be listed in this pool: $H2O, $MONEY, and $TSD. Read more.
MetaDerby Mystery Box Launch
With the purchase of a Mystery Box from the MetaDerby Marketplace starting on May 26th, buyers will be able to claim their racehorse NFT and begin racing. Mystery Boxes will be available in two forms- Common Boxes and Legendary Boxes. Read more.
Snake City: Burn and IDO Update
As a result of an ongoing dialogue between Avalaunch and Snake City, the following adjustments have been made to the IDO in order to best serve our respective communities and honor the current market conditions. Read more.
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