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: $34.50 (+31%)
Max transactions per second: 248 (+19.81%)
Network’s total transactions: 23.57M (+16.45%)
Avalanche C-Chain daily txns: 349.3K (+83.78%)
DeFiLlama’s Avalanche TVL: $1.35B (-8.78%)
BENQI: $746.71M (+89.3%)
Aave: $456.22M (+28%)
LFJ: $153.51M (+29.5%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: Off The Grid hit 10 million wallet addresses and has processed over 130 million transactions since the game’s early access release last month, according to Gunz onchain data.
🔺Why it matters: Off The Grid entered its early access phase on October 8, 2024. Since then, the game has been able to prove that the use of blockchain technology in games can reach the masses when executed properly.
In addition to its 10 million wallet addresses and 130 million onchain transactions amount, Off The Grid also garnered over 2.8 million hours watched on Twitch. This popularity was arguably fueled by the game’s ability to capture the attention of native gamers and strategic streamer collaborations.
Web3 games have notoriously been treated by mainstream audiences as too complex or only valuable for speculatory reasons (aka tokens). However, Off The Grid was able to showcase that web3 gaming has the capabilities to compete against traditional games by embedding blockchain technology to help create more value for gamers. Its blend of hype, content curation, and quality gameplay pushed Off The Grid to become the number one web3 game in terms of onchain engagement.
🔺The bigger picture: Off The Grid’s rapid growth signified a spark in the motivation of development for web3 gaming.
The free-to-play battle royal game demonstrated how the blockchain can enhance gaming experiences in an appealing way. It caters to both crypto enthusiasts and traditional gamers by integrating blockchain technology without imposing crypto-related complexities on players. The game surpassing 10 million wallets created in a month is an impressive feat and if it continues on its current trajectory, it can gain the same level of popularity as web2 shooting games.
Scaling the ecosystem
Gunzilla Testnet: 16.21M (-9.83%)
Pulsar: 11.36M (+15.4%)
Defi Kingdoms: 4.64M (+22.63%)
Orderly Network added support for Avalanche to its cross-chain liquidity trading layer
AvaCloud, an Avalanche-powered identity and privacy solutions, was selected for Kinexsys’ Project EPIC
AUSD transfer volume on Avalanche hit $190M, an all-time high for the stablecoin (shown below)
Source: Token Terminal
Active L1s: 40
L1 validators: 244
Total L1 validators: 1,471
Total blockchains created in the Avalanche network: 108
Total staked across Subnets: 492,277 AVAX
Distribution of L1s by category. Source: Snowpeer
AVAX community wins
Looking for Off The Grid loadout inspo? Watch the latest video Player1GamingYT
Forgotten Playground released a new minigame called “Secret Scroll” - check out X user ice_nfts video that showcased it
X user that_techieboy created a thread about the latest DeFi developments on Avalanche
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
Inside Crypto's First Breakout Game Off The Grid (Empire Podcast)
Avalanche Foundation buys back $52 million worth of AVAX tokens from Do Kwon's defunct 'Luna Foundation Guard' (The Block)
Inertia: Making Prediction Markets Social for the Next Generation (CoinDesk)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
The Avalanche Foundation opened applications for its Avalanche Ambassador program
Apply to join Faraway’s foundry creator program to become a Shatterline creator - details here
MapleStory Universe’s 2nd pioneer test starts Nov. 20 - read more about what rewards are offered and how to participate
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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.