Avalanche (AVAX) records highest trading volume in a year… surpasses 1 million transactions
Summary
- Avalanche network's on-chain transaction volume surpassed 1 million in a year.
- Recently, network fees nearly doubled, indicating increasing demand within the network.
- The number of active wallet addresses hit a record monthly high of 3.6 million.
The Avalanche network has made a comeback, recording its highest transaction volume in a year.
According to Coindoo on the 18th (local time), Avalanche's 7-day moving average (7DMA) on-chain transaction volume surpassed 1 million, far exceeding the 296,000 transactions recorded in early May.
The surge in transaction volume also impacted network fees. The average transaction fee, which was 0.0035 AVAX in early May, has recently risen to 0.0072 AVAX, nearly doubling. This indicates growing demand within the network.
The number of active wallet addresses has also surged from 40,000 in early May to 296,000 currently, based on the 7-day moving average. On a monthly basis, this amounts to 3.6 million, surpassing the previous all-time high of 3.09 million recorded in December 2021.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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