Welcome to the Avalanche Weekly Overview. A one-stop-shop for the AVAX community to get up to speed on the Avalanche blockchain network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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Avalanche by the numbers
AVAX token price: $22.21 (+16.89%)
Max transactions per second: 147.75 (-59%)
Network’s 7-day total transactions: 23.36M (-9.74%)
Avalanche C-Chain daily txns: 341.07K (+50.12%)
DeFiLlama’s Avalanche TVL: $1.29B (+20.56%)
Aave: $625.27M (+12.42%)
BENQI: $509.55M (+17.08%)
LFJ: $114.05M (+8.56%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: CodeNekt, a platform focused on vehicle data management through blockchain technology, launched an automotive-focused Avalanche L1.
🔺Why it matters: When buying used cars, there is a level of uncertainty a purchase has because of prior accident history, mileage or general transmission issues. The blockchain looks to reduce fraud in the automotive industry by putting vehicle records onchain, making it tamper-proof by sellers. Since these vehicles would be turned into a type of digital asset that can be tracked throughout its lifecycle, it could make the process more transparent.
The integration of a purpose-built network can also make the buying and selling process more streamlined, while allowing vehicles to be used as collateral for loans. By integrating Avalanche’s technology, CodeNekt’s blockchain is customizable to its needs, in this instance with the automotive industry, while maintaining compatibility with other networks.
This isn’t the first blockchain-based automotive expansion that transpired on Avalanche. Previously, the network partnered with Oxhead Alpha and the California DMV to put 42 million car titles on the network with their own blockchain. This is important because it showcases that the ecosystem has previous endeavors handling vehicles onchain across various functions and use cases.
🔺The bigger picture: CodeNekt's launch can show how physical assets could be verified digital assets via the blockchain.
This approach could also extend to other industries that utilize physical products such as real estate or luxury goods. In turn, this design can reduce fraud, while creating new business opportunities.
The development of purpose-built networks on Avalanche can address specific industry challenges more effectively than one-size-fits-all solutions. If done right, industry-specific blockchains can be used to accelerate adoption of the technology in everyday business operations.
Scaling the ecosystem
Gunzilla: 16.1M (-5.36%)
Pulsar: 8.34M (-28.11%)
DeFi Kingdoms: 4.03M (-11.36%)
The Avalanche Card, the network’s flagship credit card, is now publicly available
USDC market cap on Avalanche rose 23% to $792M on the month, making it the most dominant stablecoin on the network, according to DefiLlama
Perp trading volume on the network is up more than 4,147% on the month, DefiLlama data shows
Euler hit $51M in TVL on Avalanche for its institutional grade lending protocol (shown below)
Source: DefiLlama
Active L1s: 64
Total L1 validators: 689
Total active blockchains in the Avalanche network: 67
Total staked across L1s: 449,109 AVAX
Distribution of L1s by category. Source: Snowpeer
AVAX community wins
MapleStory Universe released a whitepaper about its in-game rewards mechanic and integration of NFTs
Listen to the latest Avalanche Live podcast episodes on Spotify:
Balancer deployed its cross-chain yield-generating liquidity protocol to Avalanche
QUEX launched its data oracle provider to the Avalanche network - learn about it here
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
John Wu on Avalanche’s edge in the race for enterprise adoption (The Block)
AvaCloud Security Audit of Hexens (Ava Labs Security Report on GitHub)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
Attend the Avalanche Summit in London at the Hatfield House from May 20-22 (code: TOKENRELATIONS15 for 15% off) and check out these side events:
BritCOQ 2025 on May 20 for the COQ community in collab with Team1 Dao
Owl Explains Crypto Summit on May 22 to learn about global policies around tokenization and more
Avalanche Summit London Hackathon on May 23 for a chance at a $50K prize pool
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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.