.MessariCrypto just released its latest report on the state of avalancheavax AVAX
Although the network’s integrations with platforms like Core, THORChain and Boba Network show higher real-world usage, per Messari, Avalanche’s daily transaction volume and transaction fees have declined by 65.5% and 76.2%, respectively.
Similarly, Avalanche’s popular decentralized finance incentive program — called Avalanche Rush — has also been falling down with its total value locked losing roughly 27% “in both USD and AVAX Quarter over Quarter .” In addition to DeFi, AVAX’s non-fungible token market conditions were not good as well. The network’s NFT sales volume and unique buyers are down by more than 88% and 34%, respectively. Unique sellers, however, have increased by 25%, according to data provided by Messari. The report says: While the quantitative narrative of Q3 was relatively unexciting, the qualitative narrative was filled with building the @avalancheavax ecosystem and remaining laser-focused on executing its growth strategy.
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