Welcome to the Avalanche Weekly Overview, the AVAX community’s one-stop-shop for the latest on the network’s metrics, releases, insights, updates, ecosystem developments and more. All in one place.
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Avalanche by the numbers
Avalanche TVL: $1.98B (+1.68%)
Avalanche C-Chain daily txns: 2.1M (+5%)
Max transactions per second: 675 (+246.15%)
Total Avalanche validators: 901 (-0.22%)
Total Avalanche L1s: 349 (+0%)
The percentages and metrics are based on a 7-day timeframe from Token Relations data, unless noted otherwise.
Inside the network
🔺 What we’re watching: Stablecoins and real world assets (RWAs) on Avalanche rose to new highs across both categories.
🔺 Why it matters: Stablecoin market cap on Avalanche increased 58% to $2.24 billion from the previous quarter, driven by USDC, whose market cap on the network reached $1.42 billion for the first time since 2022.
As for RWAs, Janus Henderson Anemoy AAA CLO Fund has added more than $150.7 million in tokenized assets to the network since its announcement last month that it would contribute a portion of its funds onchain to Avalanche.
Stablecoin market cap is a key indicator of a blockchain’s utility and adoption, particularly in DeFi and payments. Since stablecoins maintain a 1:1 ratio with fiat currencies, they offer users a more stable path for lending, trading, or making transactions.
Since USDC is the second largest stablecoin by market cap ($72.58 billion) across the entire crypto sector, its dominance on Avalanche showcases the network’s power across the DeFi ecosystem. This is because protocols like Avant and the Avalanche Card leverage USDC for its services.
🔺 The bigger picture: Stablecoins serve to bridge the traditional financial and blockchain-based economies. Their 1:1 peg lends them a certain level of trust, especially with individuals in regions that may have unstable currencies. As stablecoins gain recognition as a more reliable medium of exchange compared to traditional means like wire transfers, enterprises and financial institutions like Visa and J.P. Morgan has started to implement them as a low-risk avenue of entry into blockchain ecosystems.
As stablecoins continue to gain market share and dominance as the sector finds more product market fit, their increasing market value indicates that users are turning to networks like Avalanche for payment services.
Scaling the ecosystem
Token Relations’ Avalanche Dashboard shows:
LFJ TVL rose 25% to $158M from a month earlier, while volume increased 50% to $96M compared to last week
Unique active wallets on Pharaoh Exchange surged 820% to 8K
RWA value on Avalanche hit an all-time high of $354M due to the launch of Janus Henderson Anemoy AAA CLO Fund
Inversion raised $26.5M in a seed round led by Dragonfly for its Avalanche L1 that aims to make companies more efficient using blockchain technology
Aegies deployed its bitcoin-backed stablecoin, YUSD, to Avalanche
AVAX community wins
Avalanche Team1 launched Avalanche Cascade, a platform designed to onboard new members to the ecosystem
Core updated its mobile app with a new feature that lets users buy tokens directly within the app
Benqi integrated Chaos Price Oracles for low-latency data feeds to add support for collateral valuations and liquidation logic to its lending protocol
Don't Die said it is bringing its onchain boardgame to Avalanche
Learn more about this development and its founder’s journey to web3 in this X Space
Avalanche Archives
Avalanche developments to make headlines this week:
From exposing Bitcoin’s biggest weakness to onboarding FIFA and MapleStory (WhenShiftHappens Podcast with Ava Labs CEO Emin Gün Sirer)
How Avalanche Works: Inside the C-Chain and Layer 1s (Avalanche Team1)
The New Entertainment Economy (Fiftyone and Avalanche collaborative report and webinar)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
Sign up to Helika and Avalanche’s 12-week mentorship program designed to help studios refine, iterate on and scale their game products
Avalanche’s Hack2Build: Privacy Edition builder event ends next week. Submit your project for a chance to win from a $25K prize pool
Check out Aphex Labs’ 12-week accelerator program for early-stage teams building staking platforms, liquidity pools or yield farming tools on Avalanche
See details about FLAW Gaming’s Off The Grid tournament from Sept. 12-14
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.