Recently Avalanche reported achieving an impressive milestone by crossing 2 million transactions. This achievement came by the weekend and is considered a recent all-time high number for the crypto to reach. It could be better understood by the fact that this came after a huge surge following a four times growth in more than two months.
Anticipating more to come, many crypto analysts within the crypto space expect that the price of the AVAX tokens would see more unique and new heights. Head of Defi at Ava Labs, Luigi Demeo noted that he believes the subnets were the major reason for this, and currently, they have just started.
More to add in gains for Avalanche, two out of its most popular NFT collections named Councils Lines and Crabada have also noted spikes in their volume. The former gained 50K USD while the latter raised 115K in trading volume. NFTs based on the Avalanche network has not only shown growth in volume, rather they have become popular also. This took place during the time when majorly other NFTs were on a drastic decline consistently for the past few days.
After evolving from a dip of 20% during the past week, Avalanche made an impressive recovery after raising approx 168,419 USD after the sales of NFTs.
Moreover, Avalanche is also reported to lead several defi projects. These projects also include Platypus-like projects which it is based on the ecosystem of Avalanche and even received a prominent Avalanche X Grant. The protocol is focused on providing a platform for users with user-friendly and scalable stableSwap services.
Additionally, it also anticipates the creation of an Automated Market Maker (AMM) based on Avalanche. This would be expected to boost the options like open liquidity and increase capital efficiency. Also, it would also make the assets integrate into the liquidity pool. This way it would be able to enhance simplicity, flexibility, and ease of use.
Source: https://www.thecoinrepublic.com/2022/09/19/achievements-of-avalanche-from-2-million-transactions-to-platypus/