- Avalanche offers a scalable staking solution with low energy usage.
- AVAX holds close to $30, offering relative stability to its decentralized protocols.
- Avalanche adds new addresses and subnets as the game list grows.
Avalanche (AVAX) became the most sustainable blockchain based on a ratio of energy usage and total value locked. AVAX has grown as an asset both through DeFi projects and for its usage in P2E gaming.
The Avalanche Total Value Locked as tracked by DeFi Llama is currently $2.28B, based on a mix of collaterals and deposited liquidity. At the same time, Avalanche uses multiple nodes that hold AVAX for staking and secure the network, while also requiring no more electricity than regular online activity.
Avalanche still does not want to compete with other chains, but instead offer compatibility. C-Chain, or Contract Chain, offers the creation of smart contracts and compatibility with the Ethereum Virtual Machine.
Avalanche Core Offers Cross-Chain Token Swaps
Avalanche now focuses on its Core app, which offers cross-chain access for major networks, including Bitcoin and Ethereum. This means tokens and coins can flow into Avalanche and bring more value to its projects. Core also offers access to NFT markets and makes P2E gaming easier.
Tools to report value locked in games vary, and not all projects reveal the entire value of their token and NFT. But Crabada, one of the leading Avalanche games, currently locks in $10.2M in notional value.
In addition to bringing together an online community, Avalanche also organizes live events to foster Web3 adoption. The most recent event was Avalanche Singapore, held on August 12.
Avalanche aims to offer solutions to multiple distributed apps, while offering a complete ecosystem for startups. The Kalao Marketplace and Trader Joe exchange are carrying the inflow of new gaming and NFT projects.
AVAX, the Avalanche native token, is trading at $27.84, within a range established after the most recent bear market capitulation in June.
The Avalanche C-Chain has 3.2M unique addresses, after breaking the 3M mark this summer. The network has also marked more than 500K active addresses in a day during peak activity. Avalanche also expects the addition of new subnets by the end of 2022.