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: $53.10 (+23.09%)
Max transactions per second: 264 (+16.81%)
Network’s total transactions: 24.84M (+2.94%)
Avalanche C-Chain daily txns: 373.4K (+18.24%)
DeFiLlama’s Avalanche TVL: $1.7B (-15%)
BENQI: $990.5M (+27.79%)
Aave: $536M (+10.86%)
LFJ: $187.3M (+22.09%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: Jiritsu Network shared it will utilize its Avalanche-powered blockchain to verify onchain transactions for Franklin OnChain US Government Money Fund (FOBXX) and Franklin Templeton's BTC ETF (EZBC).
🔺Why it matters: Jiritsu’s integration of Franklin Templeton’s products to its L1 can provide a secure and transparent verification method to view onchain transactions. This means that with the use of zero-knowledge multiparty computation (ZK MPC) nodes on Jiritsu’s L1, this system can give blockchain users access to verified data for Franklin Templeton’s assets.
In a broader sense, its blockchain was built with the intention to provide more transparency of how assets are exchanged since all data can easily be viewed. This transparent data, alongside the name power that a firm like Franklin Templeton brings, can expand the innovation of decentralized apps. This is because of the trusted, real-time information developers can now leverage using Jiritus’s technology.
Franklin Templeton is an investment firm with over $1.5 trillion in assets under management. Its services offer investors exposure to traditional finance markets as well as investment avenues related to digital assets such as its FOBXX and EZBZ funds.
To give context for why these two matter in particular, FOBXX is a money market fund that leverages blockchain technology to provide investors access to traditional investments like government securities. EZBZ is an ETF that tracks the price of bitcoin and is a way for investors to gain access to bitcoin’s potential upside in a more regulated fashion.
These asset classes let investors maintain or gain exposure to blockchain technology and crypto in a secure way.
🔺The bigger picture: Jiritsu’s use of its Avalanche-powered L1 to verify Franklin Templeton’s products is the firm’s next step to integrate blockchain technology to enhance its services.
Avalanche’s broader strategy is to facilitate usecases that can create bridges between traditional finance and decentralized ecosystems. This collaboration looks to strengthen the capabilities of what is possible for the traditional finance sector by offering secure, verifiable data for its onchain products.
Scaling the ecosystem
Gunzilla Testnet: 18.53M (-4.33%)
Pulsar: 12.67M (+1.73%)
Defi Kingdoms: 4.58M (+0.43%)
L1 builders or infra providers can submit their project to Retro9000, a grant program by the Avalanche Foundation in part with Avalanche9000
Avant raised $6.5M in its seed funding round for its yield protocol built on Avalanche
Dexalot performed $3.16B in trading volume during November, an all-time high for month-over-month growth, according to DefiLlama
GoGoPool hit $87M in TVL for its Avalanche-centric liquid staking platform (shown below)
Source: DefiLlama
Active L1s: 40
L1 validators: 259
Total L1 validators: 1,558
Total blockchains created in the Avalanche network: 114
Total staked across Subnets: 522,197 AVAX
Distribution of L1s by category. Source: Snowpeer
AVAX community wins
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
State of Avalanche Q3 2024 (Messari)
Summit Highlight Series: Institutional Blockchain Adoption (Avalanche Blog)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
Shatterline, an arena FPS game built on Avalanche, releases publicly on Dec. 5 via the Epic Games Store
Attend the Crypto Waves Yacht Meetup in Dubai on Dec. 6 and meet Avalanche team members
Meet with the Avalanche DeFi and gaming community in Lagos, Nigeria on Dec. 7 for DeFiGameCon
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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.