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 Total Value Locked (TVL): $2.18B (-4.14%)
Avalanche C-Chain daily txns: 1.9M (-9.52%)
Max transactions per second: 728 (+297%)
Total Avalanche validators: 868 (+1.64%)
Total Avalanche L1s: 362 (+1.68%)
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: CruTrade launched its marketplace platform on Avalanche, letting users tokenize fine wine bottles and trade them as assets onchain.
🔺Why it matters: The platform’s tokenized approach involves holding verified bottles of wines, both rare vintages and those by top producers, in order to form a digital marketplace. By leveraging Avelanche’s infrastructure, CruTrade’s platform aims to make it easier for collectors and investors to trade luxury assets by storing different types of wines in a digital vault and exchanging them instantly with minimal risk and low fees.
The integration is aimed at driving user growth on Avalanche by attracting high-value activity, which, in turn, will bring more tokenized real-world assets (RWAs), like provenance-verified bottles, to the network, ultimately enhancing liquidity and trading volumes.
“Fine wine is a natural fit for Avalanche’s mission to tokenize the world’s assets,” Ava Labs’ Chief Business Officer, John Nahas, said. “CruTrade’s access to provenance-perfect bottles, paired with Avalanche’s speed and security, delivers an unparalleled experience.”
🔺The bigger picture: Unlike traditional wine markets reliant on physical shipping and high commissions, CruTrade’s tokenized platform is hosted fully onchain. This creates an open marketplace that lets collectors trade rare vintages instantly for minimal fees, and verify their provenance.
The functionality also paves the way for extending support to more luxury goods markets or other asset classes, while eliminating risks like spoilage, liquidity, valuing issues and opaque fees.
Scaling the ecosystem
Token Relations’ Avalanche Dashboard shows:
USDT market cap on the network hit monthly high of $925M
Avant TVL reached a high of $164M
Hypha saw all-time high with $46.2M in TVL
Unique active wallets on ODOS rose 62% through the week to 4.1K
Avalanche Treasury Company formed a $675M digital asset treasury designed to accumulative AVAX tokens
Read how Tixbase’s Avalanche L1 is being used as the partner for Copa América de Béisbol’s Group B and final round ticket services
Avalanche’s Granite network upgrade, coming soon, will bring greater ICM reliability, biometric authentication, and dynamic block times
AVAX community wins
Youmio released a digital wearable SBT to commemorate the testnet launch of its Avalanche L1
Check out Off the Grid’s latest update, which features new missions, battle passes and new in-game features
Leagues.fun next pack sale is on Oct. 9. Learn about the platform and how it works here
Avalanche Archives
The Avalanche developments to make headlines this week:
Avalanche Treasury Co. Coming With Foundation Support via $675 Million SPAC Deal (Decrypt)
Pharaoh Exchange: Liquidity, Voting, and the xPHAR Transition (Avalanche Team1)
Ava Labs founder explains why speed and security can coexist in blockchain (The Street)
ZOOGENES: ORIGIN (PLYR on X)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
Find the latest Ava Labs job postings here
Check out the Avalanche Ecosystem Job Board for companies building onchain
Sign up for the Avalanche x Helika 12-week mentorship program if you’re a game studio
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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.