Avalanche’s daily activity was impacted by native projects. The NFT market underperformed. According to a report provided by Messari, projects on Avalanche observed significant improvements in Q4 of the previous year. These improvements had a significant impact on the daily activity of Avalanche, leading to a rise in overall interest in the protocol. One of […]
These improvements had a significant impact on the daily activity of Avalanche, leading to a rise in overall interest in the protocol.
Both of these projects leveraged Avalanche’s fast, secure, and decentralized infrastructure to provide their users with a range of innovative and highly demanded services.Despite the growth of these protocols, the number of active addresses on the Avalanche network showed a decrease. However, there were a few spikes observed during this time, which were attributed to increased interest in the NFT market.
Data provided by AVAX NFT stats showed that the NFT volume for blue-chip Avax NFTs had declined significantly over the past few weeks.The decline in activity on Avalanche has had a number of knock-on effects on the overall state of the protocol. For example, fees collected by Avalanche and the number of transactions on the network dwindled.could be a factor that affected the state of stakers on the Avalanche protocol.
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