"Breaking News: Avalanche Network Witnesses Unprecedented Growth in Daily Transactions - Click Here to Learn More"
The Avalanche blockchain network is seeing a significant boost in daily transactions, according to the Messari report for the fourth quarter of 2022. Despite some roadblocks, such as the FTX collapse, the Avalanche subnets continue to show impressive growth in terms of daily transactions.
During the fourth quarter of 2022, the number of daily active addresses on the Avalanche network increased by 3.2% from the previous quarter, reaching a total of 48,023. Additionally, the average daily transactions rose by a staggering 85% from the previous quarter, reaching a high of 2,881,20.
This growth in daily transactions is a promising sign for the future of the Avalanche network and its native cryptocurrency, AVAX. The total transactions per second on the network also nearly doubled from 18 in the third quarter to 33 in the fourth quarter.
While the growth in daily transactions is positive, the report also showed some areas for improvement. The total value-locked in the Avalanche DeFi space declined by 25% during the last quarter, and developer engagement on the network was also on a decline. The number of unique smart contracts verified decreased by 23.7% quarter-over-quarter and by 59% year-over-year.
Despite these challenges, the growth in daily transactions on the Avalanche network is a positive sign for the future of the ecosystem and the use of AVAX. As more transactions take place on the network, the value of AVAX is likely to continue to rise
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