At the end of 2022 everything seems to be going badly. And no one thought of such an apocalyptic capitulation scenario for the cryptocurrency market. With bankruptcies that follow each other, due to the collapse of the ecosystem Terra classic and more recently of the FTX platform. However, some projects are running better than others. For example the avalanche network which sees the number of daily transactions increase by 1500% in a year.
Difficult to make a difference when the crisis affects a majority of investors. So much so that it gives the impression of experiencing the end of an entire ecosystem that has only just emerged. But it should be clear that the current disaster is mainly related to the centralized part of this digital economy that is not supposed to be. And that many projects and networks continue to build and develop in the background. For example the discrete Avalanche blockchain (AVAX) which has surpassed 450 million daily transactions for the first time.
Avalanche – Transactions increased by 1500%
The Avalanche network is one of those moving forward quietly, apart from the communication frenzy that can sometimes drown investors. Of a solid project based on a strong crypto ideology which is sometimes sorely lacking in the competition. So much so that it sometimes gives it a somewhat sober or very “developer” aspect. But isn’t that a good thing when we see the damage that can be done by a desire for too rapid development, sacrificed to security and decentralization.
And while some networks are suffering martyrdom, the Avalanche blockchain has just reached an important symbolic milestone. The latter announced yesterday that he had crossed the border 450 million cumulative daily transactions. That is an increase of 1507% over the past year, day over day (YTD). Good news in the current bear market…
” Avalanche surpassed a total of 450 million transactions today! Exactly one year ago, Avalanche processed a total of almost 28 million transactions. Total transactions increased by 1507% on Avalanche from November 2021 to November 2022. »
A reality that does not allow the Avalanche network to return to position itself in the top 5 current DeFi networks by Total Value Locked (TVL). Because he ranks 6thjust behind layer 2 Arbitrum, with an estimated amount of $792 million according to the DefiLlama website. That is, in the current overall trend, very (very) far from the December 2021 peak above $12 billion.
Of a native AVAX cryptocurrency which shows a price just below the $12 symbolic bar on the day yesterday ($11.60). That is, a drop of -92% since the all-time high in November 2021 at $145. And that’s when investors split into two camps, between those who see bankruptcy coming and those who consider a possible opportunity to grab. Everyone will make and adopt their choices accordingly…