Activity declined on Avalanche last quarter, with both transaction volume and active addresses on Avalanche’s flagship “C-Chain” receding compared to Q2 2023.
According to data from Nansen, daily active users peaked at 86,000 in Q3, compared to 117,000 during the previous quarter. Daily active transactions also dropped from between 200,000 and 550,000 to range between 136,000 to 504,000, with the metric sinking to a low of 110,000 on Oct. 15.
Data from DeFi Llama shows Avalanche’s total value locked (TVL) also slumped 27% from $706m to $512M in Q3. Avalanche’s TVL has since rebounded 10% to $564M while daily transactions remain low at 232,000.
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#undefined [Source: TheDefiant]