The Avalanche network has shown significant growth in recent weeks, driven by increased stablecoin usage and NFT activity.
Growth of Stablecoin Supply
According to Artemis data, stablecoin supply on Avalanche rose 14% over the past month to $1.5 billion. Adjusted stablecoin transaction volume surged by 715%, reaching $131 billion.
Activity of Decentralized Exchanges
Decentralized exchanges on Avalanche, including Blackhole and Uniswap, recorded significant trading activity. In July, transaction volumes reached $7.7 billion, with over $5.8 billion processed already in August.
Development of NFT and Tokenized Assets Market
The non-fungible token (NFT) market on Avalanche is also gaining traction, with weekly sales increasing by 52% to $1.42 million. Additionally, the launch of the first order book for U.S. stocks on Avalanche opens a new market segment.
The steady increase of stablecoin usage, activity on decentralized platforms, and growth in non-fungible tokens indicates a positive trend and further opportunities for Avalanche.
