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: $20.61 (-6.78%)
Max transactions per second: 323 (-10.28%)
Network’s 7-day total transactions: 27.29M (+4.76%)
Avalanche C-Chain daily txns: 505.3K (+7.85%)
DeFiLlama’s Avalanche TVL: $1.13B (-14.4%)
Aave: $484.01M (-1.84%)
Benqi: $459.4M (-17.05%)
LFJ: $118.74M (-2.70%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: Haunted Space launched its Avalanche-powered sci-fi horror game to PlayStation and Xbox.
🔺Why it matters: The game’s launch on console is another important moment for blockchain gaming expansion into mainstream markets.
Historically, web3 games have been confined to PC and mobile platforms, leaving consoles untapped. According to a recent report by Statista, the console gaming market is projected to hit $24.B in revenue in 2025, which provides blockchain games a potential place to grow and extend to a new audience.
Since the game is built on Avalanche, it leverages its technology to enable asset ownership, such as skins or weapons, for its players - as well as integrates Polaris AI to provide personalized player coaching to drive greater customizability and accessibility.
Additionally, Haunted Space is developed by Galaxy Lab, a web3 game studio supported by Epic Games and Microsoft, and received support from the Epic MegaGrant program. These two entities are important to note because they can drive more attention for blockchain-based games through traditional gaming avenues.
However, a report by Epyllion showed that recent PlayStation and Xbox sales are down 8% over the past 49 months. This means, if done right, Haunted Space can cause disruption in the sliding console landscape and stand out from the crowd. By launching on PlayStation and Xbox, Haunted Space can showcase the benefits of blockchain technology in gaming, such as digital ownership and decentralized economies, to millions of console gamers.
🔺The bigger picture: For Avalanche, the launch of Haunted Space to popular consoles can showcase the blockchain’s capabilities through additional avenues.
Since the network is able to facilitate low-cost transactions and support high-performance, immersive gaming experiences, it makes it an attractive choice for developers who want to push the boundaries of interactive entertainment.
In general, Avalanche’s top games Off The Grid, Pulsar and Defi Kingdoms have brought in over 130M total transactions over the past 30-day period, according to Frosty Metrics data. While not all of these games are available on consoles, it still points to the prolific web3 gaming ecosystem built on top of Avalanche.
Meanwhile, the release of Haunted Space comes after the wave of success that Off The Grid had in the fall of 2024. Avalanche-based Off The Grid garnered millions of players and proved that web3 games can be appealing to mainstream audiences when executed properly.
With over 13 million wallet addresses, 420 million transactions processed and attention from top streamers like Ninja and TimTheTatMan, Off The Grid was able to showcase that blockchain games can compete head-to-head with traditional web2 gamers.
If Haunted Space can attract a similar level of player engagement and streamer collaboration to Off the Grid, it could accelerate the adoption of blockchain technology through console gaming.
Scaling the ecosystem
Gunzilla Testnet: 12.22M (-24.52%)
Pulsar: 9.41M (-24.26%)
Defi Kingdoms: 3.83M (-28.31%)
Maaly Pay signed an MoU with Ava Labs Chief Business Officer John Nahas to leverage Avalanche’s technology to power stablecoin payments in the UAE
Core wallet shared it will rebrand to implement UI/UX user feedback and aesthetic changes
Parallel hosted its first world championship event at the HyperX Arena in Las Vegas
Watch the final moments of the tournament and post-game interview
Off The Grid and Shatterline also hosted tournaments during the event - check out some gameplay here
Coqnet hit 1,235 validators to secure its L1 blockchain
Active L1s: 48
Total L1 validators: 1,515
Total active blockchains in the Avalanche network: 51
Total staked across L1s: 469,379 AVAX
Distribution of L1s by category. Source: Snowpeer
AVAX community wins
MapleStory Universe released metrics from its recent Genesis Phase - here’s what stood out to us:
972K unique active wallets
1.7M web users
31.5M total transactions
41%-52% retention rate across its stages
WARP Chain hosted an X space with its founders, Wolves DAO and GoGoPool’s head of product about L1 development
Shrapnel partnered with Galaxy Girl Interactive to provide more in-game rewards and player-centric experiences
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
'Off the Grid' Game Adds 'Biggest Update Yet'—Here's What's New (Decrypt)
$RECORD Joins PLYR L1, Where Music and Gaming Collide (PLYR on Medium)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
Grab tickets to Avalanche Summit in London, happening from May 20 - 22
Apply for the infraBUIDL() Program and receive up to $250K in funding
Itching to play Haunted Space? Attend NT Play’s game night on March 6 to get an access code
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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.