Avalanche (AVAX) crypto has achieved a significant milestone with its daily swapper activity reaching a 90-day high.
Over this period, $17.7 billion in swaps were recorded from 4.8 million transactions executed by 454,000 swappers. This exceptional performance positions AVAX as a key player in the evolving crypto ecosystem. It also highlights the blockchain’s growing adoption across diverse sectors.
Swap Volume and Avalanche Crypto Activity
That AVAX’s daily swapper count has just hit a 90-day high is a testament to AVAX’s adoption and network robustness. Its capability to process high liquidity and transaction throughput is underscored by the fact that annual swap volume reached $17.7 billion.
With 454,000 active participants, this accounts for an impressive 4.8 million swaps unrolled through Avalanche’s decentralized applications (dApps). It indicates a growing volume of users who are enjoying the benefits of using this Avalanche-based DeFi infrastructure.
These are all metrics that depict how extremely scalable and efficient AVAX’s blockchain architecture is.
Avalanche has been welcoming institutional players and retail traders alike. It has an average daily amount of over 53,000 swaps during the period.
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Such wide participation is definitely indicative of a progressively growing ecosystem of 17 active platforms within the AVAX ecosystem. In doing this, these platforms enable safe user experiences and also contribute to network effects which drive liquidity and adoption.
WAVAX and USDC Dominate Swapping Charts
Interestingly, the native wrapped token of Avalanche WAVAX proved to dominate in terms of the volume of swaps on the network. Can Avalanche crypto price action intensify going forward?
This makes it a critical piece of Avalanche’s DeFi ecosystem. On the contrary, when it came to the number of swappers, USDC dominated the charts as the most popular stablecoin for transactions.
For traders and investors looking for price stability through market volatility, stable coins like USDC are a must-have.
Perhaps the most interesting of these was that meme coin CoqInu was the only non-stablecoin or utility token to make the top ten rankings.
The popularity of community-driven projects is evident with CoqInu’s strong performance for both volume and user count.
These kinds of tokens rely on social momentum, an active community, and Avalanche’s infrastructure gives them the scalability needed to grow.
The fact that the market has a high swap volume for the WAVAX token paired with a high user count for the USDC token shows the variety of use cases in the Avalanche ecosystem.
USDC is a stable coin, widely used when smaller retail transactions are made, while big players in the cryptocurrency space like high-value traders and liquidity providers favor WAVAX.
Platforms and Ecosystem Diversity Driving Growth
Avalanche crypto is supported by many platforms where swap transactions take place, with a total of 17 active platforms.
The mostly distributed infrastructure however ensures that the network is accessible to users and allows the network to scale efficiently.
Trader Joe and Pangolin are two leading platforms in this activity that provide smooth and reliable trade.
Also, the participation of multiple platforms further boosts AVAX’s value proposition to developers and investors alike.
This attracts a great range of dApps and projects, with Avalanche offering a secure, efficient environment in which to do so.
Avalanche’s diversity means it’s a blockchain that caters to a broad range of user needs, from DeFI to NFTs and beyond.
Meme Coins Thriving on Avalanche Crypto
CoqInu being the only meme coin in the top 10 speaks volumes about the ability of Avalanche crypto to foster niche projects that rely massively on community engagement.
Avalanche’s performance shows that its infrastructure can support these tokens and can function without sacrificing network efficiency.
The CoqInu project is a great example of a community project in the Avalanche network that brings new users to the Avalanche crypto network, further solidifying its position as the overall blockchain leader for innovation.
Avalanche entering the network as a facilitator for meme coins entrenches its market positioning as a place with rising potential for strong use cases such as crypto on chain games and DApps.
