The new popular public chain Avalanche's management token is AVAX. In the past 30 days, the weekly trading volume on decentralized exchanges has hit a 2023 high, due to the destruction of 320,000 AVAX tokens by the project party, the lock-up volume has increased by 34%, the project revenue has reached a new high, and the daily active address has increased by more than 100%. The new popular public chain Avalanche is now one of the fastest growing layer 1 public chains together with Solana.
The public chain ecosystems that have seen a large influx of funds in the past seven days: Solana, Avalanche, Base, and Osmosis. In the world of investment, liquidity chases liquidity, and money chases money. Only by playing in places where liquidity is surging can you reap the dividends of liquidity premium.
The public chain in the cryptocurrency world is always the most noteworthy place. Ethereum has increased 15,000 times in six years. There are many star decentralized financial projects on the Ethereum chain, such as dydx, uni, sushi, aave, etc. There are also many meme coins that have increased by tens of thousands of times, such as shib and pepe. There are also NFTs. They constitute an active ecosystem on the Ethereum chain.
Solana ecosystem has the leading meme coin BONK, which has risen hundreds of times in eight weeks. In order to prosper the Solana chain ecosystem, the project team usually pulls up the representative meme coin. Recently, the Solana ecosystem has performed exceptionally well, and the entire ecosystem has ushered in a general rise.
Those who missed the opportunity to invest in Solana’s meme coins will often look for the next public chain’s meme coins.
Just like if people don’t get the Bicoin inscription, they will go for the Ethereum chain and Solana chain inscription. It doesn’t matter whether it makes sense or not, just go for it first.
In the last bull market, Solana led the way among the first-layer public chains, followed by Avalanche, Polygon and other public chain tokens that broke new highs.
After this wave of Solana market, more and more users have started to pay attention to the Avalanche ecosystem. AVAX has also recently exceeded $45, and its ranking has risen to 9th, second only to ADA. It has recently risen from $8.64 on September 18 to $45 on December 17, an increase of more than 5 times, exceeding the year-to-date increase of Bitcoin. This article will review the latest ecological progress and project status of Avalanche, hoping to help friends who are concerned about the Avalanche ecosystem.
Avalanche is a star public chain project based on innovative consensus. In order to solve the pain points of the slow and expensive Ethereum network, it began to make full efforts to seize the market in 2020 and is rapidly expanding its territory. The introduction of inscriptions into Avalanche has become an important factor in driving the price of AVAX tokens.
The features of the Avalanche public chain are as follows:
The Avalanche public chain adopts an innovative consensus protocol architecture, which enables transactions to be confirmed within seconds, while providing network security through a consensus algorithm.
AVAX coins have a hard cap, which means they are destroyed when used, so their scarcity is guaranteed.
Avalanche consists of three public chains, including the "X chain" responsible for creating assets and transactions, the "P chain" responsible for storing data and information on the chain and verification work, and the "C chain" responsible for smart contracts. The three chains have their own functions and can be converted across chains, allowing users to use them more conveniently.
The Avalanche decentralized financial ecosystem includes four modules: stablecoins, lending, derivative finance, trading, and savings.
Currently, the Avalanche public chain has also launched a cross-chain bridge with the Ethereum chain to achieve seamless and two-way asset flow between the decentralized financial ecosystems of Avalanche and Ethereum. The focus of Avalanche is to build a decentralized financial Internet with a transaction speed of more than 4500TPS. Interoperability with other public chains is enhanced. Currently, there are more than 310 projects in the AVAX ecosystem. Let’s continue to sort them out.
The most important thing about a public chain is its ecology. Only when the ecology is prosperous can the public chain have higher value.
Traderjoe is the largest decentralized finance project on the Avalanche chain, accounting for 67% of the transaction volume on the Avalanche chain. The token symbol is JOE.
SteakHut provides an automated liquidity management solution for liquidity pools, and the token symbol is STEAK.
Benqi provides lending and liquidity staking services for the Avalanche chain, and the token symbol is QI.
Shrapnel is the most popular blockchain game on the Avalanche chain, and its token symbol is SHRAP.
Dokyo is the most popular NFT in the Avalanche ecosystem.
StepApp is a running shoe imitation on the Avalanche chain, and its token symbol is FITFI.
The following are the key projects on the Avalanche chain. It is possible that there will be currencies like BONK coin that will increase 100 times in eight weeks.
Husky is the first dog on Avalanche and is an almost universally known meme item.
The project has been listed for more than two years, but it has only seen an exaggerated increase recently when everyone was discussing the Avalanche meme.
COQ is a meme project launched by @WojakSatoshi on December 8. After the project was launched, the community was enthusiastic and it has been on an upward trend, surpassing Husky.
BEAR was released on December 9th. It originated from the fact that Avalanche co-founder Kevin posted his dog on social media and released a meme token named BEAR because his dog was named BEAR.
Aval is the most well-known inscription on the Avalanche chain. Following the inscription craze of other public chains, Avalanche also launched inscription tokens, which are currently not very popular.
Memecoin is an important part of the active chain ecology. Each public chain has its own memecoin. In order to activate the ecology, the project party uses memecoin as the simplest and most effective method.
The current crypto market is driven by emotions and traders and profit seekers looking for on-chain opportunities. When one ecosystem becomes overbought, traders will move to the next ecosystem. Money is flowing. The money flow in the cryptocurrency circle first flowed from the Bitcoin ecosystem, to the Solana ecosystem, and now to the Avalanche ecosystem. Now is the time to pay attention to the hot spot of the Avalanche ecosystem. The cryptocurrency market changes quickly, and you must be sensitive to the flow of funds in the cryptocurrency circle.
Compared with the emerging public chains issued last year and this year, old public chains such as Avalanche have stood the test of time and have a certain market and user base, but it will still take time to reach its heyday. The key is how to create unique market advantages and a rich application ecosystem.