This Avalanche weekly recap is for informative purposes only and not investment advice. Avax’s price continued to plummet to the $15 zone during the previous week. When the cash flow was withdrawn, the market became exceedingly pessimistic and the TVL index dropped significantly. However, Avalanche is still working on innovation and there are some great things occurring.

Network Growth

Daily Transactions

Average Daily Transactions June 6 – June 12 on the Avalanche C-chain reach 219,158 transactions. Down 0.34% since last week (219,910). The number reached 271,274 at the peak of the data on June 12th. And the lowest was on June 9th, with 184,660 transactions. This is the lowest index that has been recorded in the last 8 months.

Unique Addresses

The Cumulative Unique Addresses index is currently at 2,980,707 addresses. Last week, there were 2,954,611 addresses, indicating a 26,096 addresses rise. Which is +0.73% more than what it was last week (25,906). The daily increase rate remains at 3,728 addresses. Up 0.75% compared to last week (3,700).

Active addresses

During May 6 – June 12, there is an average of 47,884 active addresses. Down from 49,871 last week (-3.98%). June 6th is the day with the most active addresses (54,029 addresses). While the lowest index day of the week is June 11th with 44,729 addresses.

Total Value Locked

The Total Value Locked in 7-days has decreased 21.74%, from $7.57 billion to $5.9 billion. Avalanche is still in third place after passing Tron last week. Most Layer 1 platforms have seen a loss at this level and have not demonstrated any signs of recovery.

Total Stablecoin Supply

The Avalanche ecosystem has a total stablecoin supply of $3.49B last week. With a market capitalization of $1.97 billion (57.26%), USDC is the most popular stablecoin. Then there is USDT, which has a total supply of $731.65 million (20.29%), and MIM, which has a total supply of $375.93 million (10.34%). Some other stablecoins accounted for 12.11%.

Top 10 Price Performance last 7D in Ecosystem

Highlight Events

Avalanche Launches Subnet Tutorial Contest with $32K in Prizes

Ava Labs has launched a contest calling for written developer tutorials for Subnets. The goal is to expand our library of resources available to projects that want to launch Subnets. Anyone can submit to our Subnet Tutorial Contest. The contest begins today, June 6, and ends on August 2. All submissions that follow the official rules will be considered to win some of the $32K prize pool.

For more information: click here

AVAX Listed on OKCoin Japan

OKCoin Japan is now accepting inbound transfers of AVAX, the native token of the Avalanche public blockchain (AVAX), increasing the accessibility of Avalanche to a broader set of users in Japan. The markets for AVAX are expected to go live on or after 2022–06–16 at 17:00 JST / 8:00 UTC, across AVAX/JPY.

For more information: click here

AVAX staking is now available on Binance US

Binance.US has officially launched #staking, empowering customers to do more with their #money. Customers can now #stake while generating an APY of up to 18%, the highest rate among US #crypto firms.

For more information: click here

Chainlink Keepers and Chainlink VRF Go Live on Avalanche

With Chainlink Keepers, use cases can be built without the need to rely on centralized automation processes. If you’d like to start building with Chainlink Keepers, refer to the developer documentation and start submitting jobs.

Chainlink VRF provides developers with a highly secure and transparent RNG. With a wide range of new features, Chainlink VRF offers developers a randomness solution that is configurable, scalable, and cost-efficient. If you want to start building with Chainlink VRF, join the Chainlink Discord and see the developer documentation.

For more information: click here

DeFi Lego

DEX

wagmiPNG airdrop for PNG holders on the WAGMI subnet

WAGMI is a high throughput (fast) testbed for EVM (Ethereum Virtual Machine) optimizations. It is built with more capacity than the Fuji/Mainnet C-Chain Testnet and will be used to experiment with subnet candidates before they release.

In preparation for the cross-chain launches, the Pangolin team is doing an airdrop of wagmiPNG on the WAGMI subnet for PNG holders. This a testing ground to source bugs, errors, and common issues directly from the community.

For more information: click here

Lending & Borrowing

Unveiling the Yeti Finance Advisory Committee

The Yeti Finance Advisory Committee is a committee that proposes, reviews, and advises on key protocol decisions with the goal of creating long-term, sustainable success for the Yeti Finance protocol.

Token holders can gain membership and participate in the Yeti Finance Advisory Committee by staking YETI. By joining the committee, token holders can shape the direction of Yeti Finance, have a stake in its success, and be compensated for their participation.

For more information: click here

Yield aggregator

Yield Yak introduces yyAVAX: A new yield-bearing liquid staking token

yyAVAX is Yield Yak’s innovative liquid staking solution. In this video, the team breaks down how the yield is generated in order to offer what we believe to be the best liquid staking solution on Avalanche.

For more information: click here

NFT/Gaming

Nansen adds support for Avalanche NFTs

Nansen is thrilled to announce NFT support for Avalanche C-Chain! 

Like on Ethereum, the majority of these dashboards are available for FREE for our Nansen Lite subscribers! The list of dashboards included in this release are Market Trends, NFT Paradise (Market Overview & Mint Master), NFT God mode, and NFT Item Profiler. This coverage will enable users to discover opportunities, perform due diligence and make strategic decisions when investing in Avalanche-based NFT projects. 

For more information: click here

KLO staking v2 introduces veKLO and esKLO

$KLO staking helps you accumulate $AVAX. Stakers receive 75% of marketplace fees, paid in AVAX. The team has published an article for guiding you a full overview of how to stake and earn yield on your KLO.

For more information: click here

SHRAPNEL NFTs Drop on Open Sea

The Operators NFT Collection Drop will take place over five weeks, starting June 9th at 1 pm PST (whitelist holders can mint 48 hours prior). A new Operator will become available each week until July 7th. Collect each Operator to get access to:

• Exclusive in-game assets
• Future token & NFT airdrops based on rarity level
• Beta access to video game
• Future whitelists
• Digital Comic Book as NFT

For more information: click here

Verdict

BTC is still plummeting regularly, increasing panic among users; consequently, engagement in defi is poor. During the bear market, the updates are still not as significant. The nft market on Avalanche is still emerging with great potential, but it is still quite risky at the present time. To invest with the least amount of risk, it is currently required to pay closer attention to BTC.

Find more information about Avalanche:

Website: https://www.avax.network/

Whitepaper: https://www.avalabs.org/whitepapers

Twitter: https://twitter.com/avalancheavax

Telegram: https://t.me/avalancheavax

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Marshall

Coincu Ventures