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Avalanche’s new milestone and what it could mean for investors

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Source: Pixabay

Ava Labs has been extremely occupied as of now after a recent activity spike on Avalanche.

Reportedly, Avalanche’s daily gas use reached an all-time high (ATH).

The amount of gas used by the Avalanche network can be considered as a purport for high activity levels. Furthermore, the spike in gas fee usage also signifies a rise in the adoption and demand for the network.

Source: Avaxholic/ Twitter

Scaling new horizons

Increasing user activity is a result of Avalanche’s recent development-related updates and announcements.

It has already confirmed the release of nine new NFT collections on the network after releasing Fireheadz this week.

Recently, Avalanche recorded an all-time high in the daily transactions metric. It was accomplished when the metric crossed 1.51 million transactions on the daily chart on 9 August.

Avalanche is continuing to bet on the GameFi development on the network.

It witnessed a sharp dip in Q2 in the network usage as GameFi developments were transferred to subnets.

But Q3 presents a new opportunity for Avalanche to build on these gaps.

According to a new update, GameFi has gained a high social volume on Google Trend. As it gains more momentum, this could potentially lead to a breakout on the Avalanche platform.

Additionally, Avalanche has recently launched two games on the network: Adventure Games and Strategy.

Source: Avaxholic Gaming Guild/ Twitter

Avalanche secures the most economic value (in terms of TVL) on a network per unit of energy used.

This makes Avalanche a leader in sustainability among leading blockchains. The network also uses only 0.5 GWh of energy per year as compared to the 89,000 GWh of Bitcoin.

Source: Avaxholic/ Twitter

Despite the impressive activities, the token has not responded well in the past week.

AVAX, at press time, was trading at $27.42 after receiving a 1.5% cutback in the past day.

This has almost diminished all the modest weekly gains of AVAX.

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Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.

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