{"id":364547,"date":"2024-01-18T21:00:50","date_gmt":"2024-01-18T15:30:50","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=364547"},"modified":"2024-01-18T13:07:14","modified_gmt":"2024-01-18T07:37:14","slug":"avalanche-inscriptions-draw-in-user-interest-as-avax-lingers","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/avalanche-inscriptions-draw-in-user-interest-as-avax-lingers\/","title":{"rendered":"Avalanche inscriptions draw in user interest as AVAX lingers"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Inscription transactions are over 20% on Avalanche.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">The inscription fees have been reduced on the network.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Over the recent months, <a href=\"http:\/\/ambcrypto.com\/avalanche-wraps-up-2023-with-aths-on-these-fronts\/\" target=\"_blank\" rel=\"noopener\">Avalanche [AVAX]<\/a> has incorporated inscriptions into its transactions. While there has been a decrease from the previous spikes observed weeks ago, inscriptions have become a consistent element in the network&#8217;s transactions.<\/span><\/p>\n<h4><b>Avalanche maintains dominance in inscription number<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An examination of the hourly inscriptions chart on <a href=\"https:\/\/dune.com\/hildobby\/inscriptions\" target=\"_blank\" rel=\"noopener\">Dune Analytics<\/a> showed that <a href=\"http:\/\/ambcrypto.com\/avalanche-emerges-as-an-eco-friendly-network-new-report-finds\/\" target=\"_blank\" rel=\"noopener\">Avalanche<\/a> had more inscriptions than other chains earlier this week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> The chart showed that between 15th and 16th January, Avalanche recorded the highest number of hourly inscriptions and the second-highest on 17th January.\u00a0<\/span><\/p>\n<figure id=\"attachment_364549\" aria-describedby=\"caption-attachment-364549\" style=\"width: 1204px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-2-1.png\"><img decoding=\"async\" class=\"wp-image-364549 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-2-1.png\" alt=\"Avalanche daily inscriptions\" width=\"1204\" height=\"792\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-2-1.png 1204w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-2-1-300x197.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-2-1-1024x674.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-2-1-768x505.png 768w\" sizes=\"(max-width: 1204px) 100vw, 1204px\" \/><\/a><figcaption id=\"caption-attachment-364549\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Furthermore, an analysis of daily inscriptions over the past three months showed that the network maintained dominance for the majority of that period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> As of the current moment, it continued to lead in daily inscription numbers, with over 222,000 recorded. Additionally, in the last 24 hours, inscription transactions on the network were over 20%, with the percentage rising to over 50% on 17th January. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, in the past week, the percentage of inscription transactions was over 30%<\/span><\/p>\n<h4><b>Avalanche attracts more inscription gas<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Despite the considerable number of inscriptions and the corresponding percentage of transactions on the <a href=\"http:\/\/ambcrypto.com\/avalanche-prepares-for-the-next-bull-run-as-development-activity-soars\/\" target=\"_blank\" rel=\"noopener\">Avalanche<\/a> network, there has been a noticeable decline in the generated gas fees. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">An analysis of the hourly gas fee on Dune showed a decrease over the last four days. The highest hourly gas fee recorded at the time of this writing was $29, a notable drop from the peak of $430 observed on 17th January.\u00a0<\/span><\/p>\n<figure id=\"attachment_364550\" aria-describedby=\"caption-attachment-364550\" style=\"width: 1204px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-3.png\"><img decoding=\"async\" class=\"wp-image-364550 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-3.png\" alt=\"Avalanche gas fees\" width=\"1204\" height=\"792\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-3.png 1204w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-3-300x197.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-3-1024x674.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-3-768x505.png 768w\" sizes=\"(max-width: 1204px) 100vw, 1204px\" \/><\/a><figcaption id=\"caption-attachment-364550\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Additionally, the analysis of daily gas fees over the past three months showed a significant downturn. The chart showed that on 20th December, the daily gas fee reached its peak at over $8.3 million.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> This marked the highest for the network and also among other networks. As of this writing, the recorded fee was nearly $5000.<\/span><\/p>\n<h4><b>Avalanche volume drops<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An examination of the Avalanche volume on <a href=\"https:\/\/defillama.com\/chain\/Avalanche?volume=true&amp;tvl=false\" target=\"_blank\" rel=\"noopener\">DefiLlama<\/a> showed a recent decline. At the start of the year, the chart reflected a strong network volume, surpassing $100 million and $200 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, this coincided with a period of elevated inscription fees. However, in the last few days, the volume has experienced a decrease and has struggled to surpass the $100 million mark. As of this writing, the volume was around $99 million.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">\u00a0How much are 1,10,100 AVAXs worth today<\/p>\n<hr \/>\n<h4><b>AVAX fails to see major gains<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The daily timeframe chart for <a href=\"http:\/\/ambcrypto.com\/avalanche-is-avax-more-profitable-than-btc\/\" target=\"_blank\" rel=\"noopener\">Avalanche<\/a> indicates a lack of substantial uptrend since its decline in the past week. It experienced a slight gain of around 1.2% in the previous trading session, reaching a trading value of around $36. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, as of this writing, it has retraced nearly 1%, trading at around $35.7.<\/span><\/p>\n<figure id=\"attachment_364551\" aria-describedby=\"caption-attachment-364551\" style=\"width: 1491px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/AVAXUSD_2024-01-18_07-12-40.png\"><img decoding=\"async\" class=\"size-full wp-image-364551\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/AVAXUSD_2024-01-18_07-12-40.png\" alt=\"AVAX\/USD daily timeframe price trend\" width=\"1491\" height=\"785\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/AVAXUSD_2024-01-18_07-12-40.png 1491w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/AVAXUSD_2024-01-18_07-12-40-300x158.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/AVAXUSD_2024-01-18_07-12-40-1024x539.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/AVAXUSD_2024-01-18_07-12-40-768x404.png 768w\" sizes=\"(max-width: 1491px) 100vw, 1491px\" \/><\/a><figcaption id=\"caption-attachment-364551\" class=\"wp-caption-text\">Source: Trading View<\/figcaption><\/figure>\n<p style=\"text-align: center;\">\n","protected":false},"excerpt":{"rendered":"<p>Avalanche can&#8217;t shake off the inscription transactions as it has become a key part of its metrics.<\/p>\n","protected":false},"author":76,"featured_media":364563,"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-364547","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 v28.5 (Yoast SEO v28.5) - 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