This Avalanche weekly recap is for informative purposes only and not investment advice. Last week still remained in a bear market therefore the indexes plummeted. TVL on the other hand has expanded fairly impressively. Join Coincu for a weekly update on the Avalanche ecosystem.
Network Growth
Daily Transactions
Average Daily Transactions May 30th- June 5th on the Avalanche C-chain reach 219,910 transactions. Down 11.45% since last week (248,328). The number reached 250,089 at the peak of the data on May 30th. And the lowest was on June 5th, with 181,698 transactions. This is the lowest index that has been recorded in the last seven months.
Average New Unique Addresses
The Cumulative Unique Addresses index is currently at 2,954,611 addresses. Last week, there were 2,928,705 addresses, indicating a 25,906 addresses (+0.88%) rise. The daily increase rate remains at 3,700 addresses. Down 23.91% compared to last week (4,863).
Active addresses
During May 30th- June 5th, there is an average of 49,871 active addresses. Down from 53,909 last week (-7.5%). May 30th is the day with the most active addresses (54,828 addresses). While the lowest index day of the week is June 5th with 43,781 addresses.
Total Value Locked
The Total Value Locked in 7-days has increased 36.27%, from $5.68 billion to $7.57 billion. Avalanche surpassed Tron to grab the third position in the rankings with a marked improvement in statistics.
Total Stablecoin Supply
The Avalanche ecosystem has a total stablecoin supply of $3.62B last week. With a market capitalization of $2.09 billion (58%), USDC is the most popular stablecoin. Then there is USDT, which has a total supply of $743.7 million (20.64%), and MIM, which has a total supply of $376.4 million (10.4%). Some other stablecoins accounted for 10.96%.
Highlight Events
Coinbase Cloud launches Query & Transact infrastructure for Avalanche
You can now easily and securely power your app and analyze network trends with Avalanche blockchain data.
Avalanche House is coming home to Brooklyn July 15-16 for the Avalanche Andretti Formula E
Avalanche House | FE Brooklyn is hosted at Hook Studios Dikeman right before the Formula E race weekend.
Attendees can participate in keynotes and panels, networking, live music, and more. Avalanche House strives to cultivate a culture that accelerates progress towards a Web3-enabled future. More information is to be released soon.
DeFi Lego
AMM
The Platypus Factory Pool is lived
H2O, MONEY, & TSD have just launched on Platypus. All three protocols in the Factory Pool will provide incentive rewards to their respective pools. The Factory Pool is created for the most adventurous risk level.
- Main Pool — established and time-tested stablecoins
- Alternative Pool — newer and relatively risky stablecoins
- Factory Pool — maximum risk stablecoins
For more information: click here
Lending/Borrowing
CIAN has strategically partnered with BENQI
CIAN’s automation primitives were designed for multiple use cases. For instance, BENQI’s users will be able to:
- Build & automate intricate sAVAX leveraged strategies.
- Build complex multi-protocol ‘’borrow to farm’’ positions in 3 simple steps.
- Protect their collateral assets with 2-level of protection.
For more information: click here
Yield aggregator
Vector Finance now controls over 50% of all veJOE
Owning over 50% of all $veJOE means they are a huge holder and are earning a ton of $JOE rewards. All that veJOE also means that Vector will be a massive player in future governance decisions for Trader Joe.
For more information: click here
NFT/Gaming
ImperiumEmpires Apollo Web Game Is Coming
In Apollo, players’ purpose is to manage and send their spaceship fleets to mine, lurk, refine and trade resources in the Imperium metaverse. It’s a grand strategy game with limitless options so you have to figure out the best route in order to maximize your profits!
For more information: click here
Crabada Introduces Duel Mode Challenge
Pit your strongest Crabada lineups against your friends, your enemies, your arch-rival Gary, your granny, or even your dog, and see who’s the strongest of you. Whatever the reason, you can easily create Duel QR code within the Battle Game, or scan another player’s Duel QR Code to challenge them!
For more information: click here
Verdict
There are updates that are not very outstanding but are being made on a regular basis. TVL has achieved a tremendous gain over the last week, despite the fact that the price of AVAX continues to decline. Bringing about reduced costs for gas. Users have the chance to leverage their assets to have “skin in the game” by taking advantage of this possibility.
Find more information about Avalanche:
Website: https://www.avax.network/
Whitepaper: https://www.avalabs.org/whitepapers
Twitter: https://twitter.com/avalancheavax
Telegram: https://t.me/avalancheavax
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Marshall
Coincu Ventures
