- Avalanche’s cumulative weekly transactions fell 16.88%.
- The fall in transactions impacted the burning rate of AVAX.
Proof-of-Stake (PoS) blockchain Avalanche [AVAX] registered a sharp decline in network usage over the last week, according to a recent post on social platform X (formerly Twitter).
Transactions continued to drop lower
The Contract Chain (C-chain), which is designed for running smart contracts, processed a cumulative total of 7.66 million transactions in the last week — 16.88% lower than the tally recorded a week before.
Consequently, the gas usage in the last week dropped by 2.74%. Note that smart contract interactions require a higher amount of gas as they are more complex.
Hence, the drop indicated less action on the Avalanche-based decentralized applications (dApps).
In fact, daily transactions on the C-chain have plummeted sharply since the Inscriptions frenzy in December.
As evident below, Avalanche clocked more than 5 million transactions between the 15th and the 25th of December.
However, the trajectory couldn’t be sustained in 2024 as daily transactions have fallen as low as 200,000 on the 6th of February.
Source: Avalanche Explorer
How much was AVAX impacted?
As per the existing framework, Avalanche burns all the revenue it generates from transaction fees. This meant that the higher the fees, the higher will be the deflationary pressure on AVAX.
However, as transactions decreased over the last week, so did the number of AVAX effectively departing circulation, as per Avascan.
The fall in deflationary pressure could potentially be responsible for the 1.1% weekly fall in the crypto’s price.
Source: Avascan
Derivatives traders bearish on AVAX
As the spot price dropped, the money locked into AVAX’s speculative market also dipped, AMBCrypto noticed using Coinglass data.
How much are 1,10,100 AVAXs worth today?
As of this writing, the Open Interest (OI) in AVAX Futures contracts was $193 million, a fall of nearly 5% from the previous week. A fall in OI coming alongside a fall in price was reflective of a bearish sentiment.
Source: Coinglass
Additionally, the number of short positions taken for the coin continued to increase vis-à-vis the longs, adding strength to the bearish narrative.
Source: Coinglass
- Avalanche’s cumulative weekly transactions fell 16.88%.
- The fall in transactions impacted the burning rate of AVAX.
Proof-of-Stake (PoS) blockchain Avalanche [AVAX] registered a sharp decline in network usage over the last week, according to a recent post on social platform X (formerly Twitter).
Transactions continued to drop lower
The Contract Chain (C-chain), which is designed for running smart contracts, processed a cumulative total of 7.66 million transactions in the last week — 16.88% lower than the tally recorded a week before.
Consequently, the gas usage in the last week dropped by 2.74%. Note that smart contract interactions require a higher amount of gas as they are more complex.
Hence, the drop indicated less action on the Avalanche-based decentralized applications (dApps).
In fact, daily transactions on the C-chain have plummeted sharply since the Inscriptions frenzy in December.
As evident below, Avalanche clocked more than 5 million transactions between the 15th and the 25th of December.
However, the trajectory couldn’t be sustained in 2024 as daily transactions have fallen as low as 200,000 on the 6th of February.
Source: Avalanche Explorer
How much was AVAX impacted?
As per the existing framework, Avalanche burns all the revenue it generates from transaction fees. This meant that the higher the fees, the higher will be the deflationary pressure on AVAX.
However, as transactions decreased over the last week, so did the number of AVAX effectively departing circulation, as per Avascan.
The fall in deflationary pressure could potentially be responsible for the 1.1% weekly fall in the crypto’s price.
Source: Avascan
Derivatives traders bearish on AVAX
As the spot price dropped, the money locked into AVAX’s speculative market also dipped, AMBCrypto noticed using Coinglass data.
How much are 1,10,100 AVAXs worth today?
As of this writing, the Open Interest (OI) in AVAX Futures contracts was $193 million, a fall of nearly 5% from the previous week. A fall in OI coming alongside a fall in price was reflective of a bearish sentiment.
Source: Coinglass
Additionally, the number of short positions taken for the coin continued to increase vis-à-vis the longs, adding strength to the bearish narrative.
Source: Coinglass
where can i get clomid without dr prescription buy generic clomiphene no prescription order generic clomiphene online order cheap clomiphene without prescription buying generic clomiphene pill how can i get generic clomid without prescription where can i buy clomid price
This is a question which is virtually to my verve… Myriad thanks! Exactly where can I lay one’s hands on the connection details an eye to questions?
This is a theme which is forthcoming to my callousness… Many thanks! Unerringly where can I upon the acquaintance details an eye to questions?
zithromax online order – ciplox 500mg sale flagyl for sale
buy rybelsus 14 mg generic – periactin ca purchase cyproheptadine without prescription
cost domperidone – order sumycin online cheap purchase flexeril online cheap
buy augmentin 1000mg – atbioinfo.com ampicillin for sale
buy nexium 20mg pill – https://anexamate.com/ buy nexium 40mg sale
warfarin online order – anticoagulant buy losartan 50mg sale
order generic deltasone 40mg – corticosteroid prednisone for sale online
non prescription erection pills – erection problems buy generic ed pills over the counter
amoxicillin pills – https://combamoxi.com/ amoxil online buy
buy fluconazole for sale – https://gpdifluca.com/ oral diflucan 100mg
cenforce 50mg cost – https://cenforcers.com/ order cenforce without prescription
ranitidine 150mg pills – https://aranitidine.com/ zantac 300mg pill
cialis 20 mg duration – https://strongtadafl.com/# buying cialis
The thoroughness in this break down is noteworthy. comprar synthroid 50 mg
order viagra online australia – https://strongvpls.com/# sildenafil 100 mg,
Thanks on putting this up. It’s evidently done. prednisone 5mg tablet
With thanks. Loads of erudition! https://ursxdol.com/augmentin-amoxiclav-pill/
This website positively has all of the information and facts I needed adjacent to this thesis and didn’t identify who to ask. https://prohnrg.com/
I’ll certainly return to review more. https://aranitidine.com/fr/modalert-en-france/
More text pieces like this would insinuate the web better. https://ondactone.com/spironolactone/
This is the tolerant of post I unearth helpful.
https://doxycyclinege.com/pro/spironolactone/
This is the compassionate of criticism I rightly appreciate. http://iawbs.com/home.php?mod=space&uid=915037
forxiga 10mg price – buy dapagliflozin medication forxiga 10mg ca