{"id":332931,"date":"2023-08-06T01:00:54","date_gmt":"2023-08-05T19:30:54","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=332931"},"modified":"2023-08-05T13:15:26","modified_gmt":"2023-08-05T07:45:26","slug":"avalanches-q2-went-well-will-the-trend-continue-in-q3","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/avalanches-q2-went-well-will-the-trend-continue-in-q3\/","title":{"rendered":"Avalanche\u2019s Q2 went well &#8211; will the trend continue in Q3?\u00a0"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Nansen\u2019s report highlighted AVAX\u2019s growth in multiple areas such as DeFi, NFTs, gaming, and enterprise.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">AVAX\u2019s price action turned bearish last week as it plummeted by over 6%.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Avalanche [AVAX] had a comfortable second quarter as the latest data suggested steady network growth. As per the report, the blockchain\u2019s key metrics gained upward momentum, directly suggesting an uptick in network activity.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here&#8217;s<\/span> <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">AVAX&#8217;s market cap in BTC&#8217;s terms<\/span><\/a><span style=\"font-weight: 400;\">\u00a0 \u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Continuing the growing trend, the blockchain also witnessed multiple integrations in the month of July. It was also interesting to see that Avalanche\u2019s staking ecosystem grew over the last week, as revealed by AVAX Daily\u2019s tweet.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Our <a href=\"https:\/\/twitter.com\/avax?ref_src=twsrc%5Etfw\">@avax<\/a> quarterly report is now out for everyone to read!<\/p>\n<p>tldr: The ecosystem has seen a steady increase in growth, maintained its active community and many exciting partnerships<\/p>\n<p>Read on to learn more&#8230; <a href=\"https:\/\/t.co\/NdzY07ctH1\">pic.twitter.com\/NdzY07ctH1<\/a><\/p>\n<p>&mdash; Nansen \ud83e\udded (@nansen_ai) <a href=\"https:\/\/twitter.com\/nansen_ai\/status\/1687496911430074368?ref_src=twsrc%5Etfw\">August 4, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"text-align: left;\"><strong>Avalanche network grew in Q2 2023<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Nansen recently posted its report on Avalanche\u2019s state in Q2 2023, pointing out its network activity and performance in different spaces such as DeFi and NFT. As per the report, daily transactions on Avalanche during Q2 2023 fluctuated between 200,000 and 550,000 transactions.\u00a0<\/span><\/p>\n<figure id=\"attachment_332932\" aria-describedby=\"caption-attachment-332932\" style=\"width: 947px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen.jpg\"><img decoding=\"async\" class=\"wp-image-332932 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen.jpg\" alt=\"\" width=\"947\" height=\"671\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen.jpg 947w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen-300x213.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen-768x544.jpg 768w\" sizes=\"(max-width: 947px) 100vw, 947px\" \/><\/a><figcaption id=\"caption-attachment-332932\" class=\"wp-caption-text\">Source: Nansen<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This was a massive leap compared to the previous quarter, which was almost double the volume. Daily active addresses have also been steadily increasing throughout the quarter. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On top of that, Avalanche also had significantly lower gas prices throughout Q2 compared to <\/span><span style=\"font-weight: 400;\">Ethereum [ETH]<\/span><span style=\"font-weight: 400;\">. In fact, on Ethereum, the average gas fee peaked at $29 on May 6, while the average gas fee on Avalanche did not come close to $1.<\/span><\/p>\n<figure id=\"attachment_332933\" aria-describedby=\"caption-attachment-332933\" style=\"width: 947px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen-2.jpg\"><img decoding=\"async\" class=\"wp-image-332933 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen-2.jpg\" alt=\"\" width=\"947\" height=\"657\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen-2.jpg 947w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen-2-300x208.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Nansen-2-768x533.jpg 768w\" sizes=\"(max-width: 947px) 100vw, 947px\" \/><\/a><figcaption id=\"caption-attachment-332933\" class=\"wp-caption-text\">Source: Nansen<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The Avalanche ecosystem underwent substantial changes as well, particularly in the DeFi, NFT &amp; Gaming, and Enterprise sectors. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, Gunzilla Games has partnered with Avalanche to launch GUNZ. Struct Finance launched on Avalanche C-Chain, offering a customizable interest rate product, etc.\u00a0<\/span><\/p>\n<h4><strong>Avalanche ecosystem remains active in Q3<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">The Q3 also witnessed its share of integrations and launches to date, which were optimistic. Avalanche recently posted its July Snow Report. One of the major developments in Avalanche\u2019s DeFi space was the launch of <\/span><span style=\"font-weight: 400;\">Uniswap [UNI]<\/span><span style=\"font-weight: 400;\"> on the blockchain. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from that, in gaming, a new subnet was launched to support Web3 efforts by Solert Games. Mentioning developments in the NFT space, the Avalanche Park Summer Creative Hang was launched to support the NFT ecosystem with IRL meetups.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">July&#39;s Snow Report recapped a record-setting month on Avalanche!<\/p>\n<p>With milestones of 20M+ active addresses &amp; 1M monthly active users for 3 straight months, network usage was lively.<\/p>\n<p>This flurry of activity was reflected in ecosystem developments, too. Some highlights\ud83d\udc47 <a href=\"https:\/\/t.co\/04c0x8zf4L\">pic.twitter.com\/04c0x8zf4L<\/a><\/p>\n<p>&mdash; Avalanche\ud83d\udd3a (@avax) <a href=\"https:\/\/twitter.com\/avax\/status\/1687180157885546496?ref_src=twsrc%5Etfw\">August 3, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">It was also interesting to note that AVAX\u2019s staking ecosystem registered growth last week. As per AVAX Daily\u2019s <\/span><a href=\"https:\/\/twitter.com\/AVAXDaily\/status\/1687385568357859328?s=20\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\">, AVAX\u2019s staking ratio increased by more than 60%, while staking rewards shot up by nearly 8% last week. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, Staking Rewards\u2019 chart revealed that the number of <\/span><a href=\"http:\/\/ambcrypto.com\/avax-dips-below-13-sellers-seeking-re-entry-can-target-this-level\/\"><span style=\"font-weight: 400;\">AVAX<\/span><\/a><span style=\"font-weight: 400;\"> stakers also went up last week. At press time, Avalanche had a staking ratio of 62.3% and a staking market capitalization of over $3,345,989,799.\u00a0<\/span><\/p>\n<figure id=\"attachment_332934\" aria-describedby=\"caption-attachment-332934\" style=\"width: 653px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Staking-Rewards-AVAX.jpg\"><img decoding=\"async\" class=\"wp-image-332934 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Staking-Rewards-AVAX.jpg\" alt=\"\" width=\"653\" height=\"342\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Staking-Rewards-AVAX.jpg 653w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Staking-Rewards-AVAX-300x157.jpg 300w\" sizes=\"(max-width: 653px) 100vw, 653px\" \/><\/a><figcaption id=\"caption-attachment-332934\" class=\"wp-caption-text\">Source: Staking Rewards<\/figcaption><\/figure>\n<h4><strong>A reality check<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Though key metric stats improved in Q2, the scenario changed in Q3. As evident from Artemis\u2019 data, Avalanche\u2019s daily active addresses and daily transactions dropped over the last month.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are<\/span> <span style=\"font-weight: 400;\">1,10,100 AVAXs worth today<\/span>?<span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">A similar declining trend was also noted in terms of <\/span><a href=\"http:\/\/ambcrypto.com\/avax-can-this-fib-retracement-level-provide-support-again\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">AVAX<\/span><\/a><span style=\"font-weight: 400;\">\u2019s TVL. The token\u2019s price action was also controlled by bears last week. As per<\/span><a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, AVAX was down by more than 6% in the last seven days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, it was trading at $12.33 with a market cap of over $4 billion, making it the 18th largest crypto.<\/span><\/p>\n<figure id=\"attachment_332935\" aria-describedby=\"caption-attachment-332935\" style=\"width: 1453px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Artemis-AVAX.jpg\"><img decoding=\"async\" class=\"wp-image-332935 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Artemis-AVAX.jpg\" alt=\"\" width=\"1453\" height=\"633\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Artemis-AVAX.jpg 1453w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Artemis-AVAX-300x131.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Artemis-AVAX-1024x446.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Artemis-AVAX-768x335.jpg 768w\" sizes=\"(max-width: 1453px) 100vw, 1453px\" \/><\/a><figcaption id=\"caption-attachment-332935\" class=\"wp-caption-text\">Source: Artemis<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>In Q2 2023, Avalanche witnessed steady growth in its active users and transactions. However, the same metrics registered declines in Q3.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":332936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-332931","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Avalanche\u2019s Q2 went well - will the trend continue in Q3?\u00a0 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Avalanche [AVAX] had a comfortable second quarter as the latest data such as active users and transactions suggested steady network growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/avalanches-q2-went-well-will-the-trend-continue-in-q3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avalanche\u2019s Q2 went well - will the trend continue in Q3?\u00a0 - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"In Q2 2023, Avalanche witnessed steady growth in its active users and transactions. However, the same metrics registered declines in Q3.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/avalanches-q2-went-well-will-the-trend-continue-in-q3\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-05T19:30:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/AVAX.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dipayan Mitra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/DiDipayan\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dipayan Mitra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"AnalysisNewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/avalanches-q2-went-well-will-the-trend-continue-in-q3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/avalanches-q2-went-well-will-the-trend-continue-in-q3\\\/\"},\"author\":{\"name\":\"Dipayan Mitra\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/a3c1a47ad2d3e2a023516862993813cd\"},\"headline\":\"Avalanche\u2019s Q2 went well &#8211; 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