- Demand for the Avalanche subnet increased rapidly in 2023.
- Avalanche NFT trading volume hit a 1-year high.
Avalanche (AVAX) The ecosystem has expanded significantly since the beginning of 2023 and the fact is evidenced by the increase in network development activity.
According to an analyst tweet, the number of active developers working on various contracts topped 60 in March, the highest in the YoY period.
Many are disappearing in crypto $avax And the strong narrative on which it is based:
– Increasing growth (Hypersdk)
– World-class gaming and partnership with AWS
– growing $btc.b Deposit
– C chain growth
– Expansion in Layer Zero OTF and CosmosFade at your own risk. pic.twitter.com/Oy0R7XuuJQ
— Emperor Osmo 🧪 (@Flowslikeosmo) March 18, 2023
additional demand subnet it also grew rapidly. Subnets are the preferred scaling solution for Avalanche allowing users to build and run their own blockchain networks.
According avalanche explorerAt the time of writing this article, there were approximately 56 subnets in the Avalanche network.
realistic or not, here it is AVAX market capitalization in terms of BTC
Avalanche’s GameFi ecosystem takes shape
GameFi has become one of the fastest growing sectors in the Avalanche ecosystem. The platform has recently entered into high-profile partnerships to increase its appeal in the play-to-win landscape.
Application-specific blockchains, or subnets, offer a great incentive for gaming platforms if they want more control over the infrastructure, such as using native tokens for transaction fees, which could ultimately reduce cost of playing
Last month, Avalanche announced a collaboration with the Indian streaming platform. locomotive To launch ‘Loco Legends’, an NFT game marketplace using their subnet.
The platform also partnered with the Japanese gaming pioneer. Greek Earlier this month, Avalanche decided to venture into the Web3 world.
Additionally, the platform saw promising growth in blockchain-based gaming. According strongTop games like DeFi Kingdom, Pizza Game, and Avatar reported weekly growth of 19.5%, 5.48%, and 211.7%, respectively, in their unique active users.
nft commercial explosion
The growth of these play-to-win games had a positive impact on the NFT front. According to Sentiment, total NFT transaction volume on Avalanche reached nearly 17 million on March 18, the highest in a year.
As a result, there was a substantial increase in the number of mentions of AVAX on various crypto social channels. Weighted sentiment also increased, indicating that investors were optimistic about the prospects for the coin.
Reading Avalanche (AVAX) Price Prediction 2023-24
However, there were also some related signals at the time of writing this article. According to Token Terminal, daily active users on Avalanche dropped 18% last week. As a result, trading activity was affected and total transaction fees were reduced by more than 70%.
Source: Token Terminal
