Following a recent surge in activity on Avalanche, Ava Labs has been kept very busy as of late.
Avalanche has experienced a new astounding surge in activity. The cryptocurrency that has been making waves in the digital currency world has been very active in the market.
So much so that Avalanche has reportedly reached an all-time high in daily gas fee usage.
The Avalanche network’s high gas consumption can be interpreted as a sign of high activity levels. Also, the increase in gas fee utilization reflects a rise in network adoption and demand.
Avalanche Expanding to New Horizons
This growing rate of user activity results from Avalanche’s recent development-related updates and announcements.
Recently, Avalanche confirmed the release of nine new NFT collections. These collections are to be released on the network this week.
Additionally, Avalanche set new benchmarks for the daily transactions metric. On August 9, the daily chart’s measure crossed 1.51 million transactions, marking the achievement of that milestone.
Avalanche’s Advance in GameFi development
Avalanche is still placing bets on the network’s GameFi development.
This second quarter saw a significant decline in the niche. As GameFi evolved, the network utilization was moved to subnets.
However, the third quarter offers Avalanche a fresh chance to close these disparities.
A recent update indicates that GameFi has increased its social volume significantly on Google Trend. Decentralized gaming may have a breakout on the Avalanche platform as it picks up steam.
Avalanche has also just introduced Adventure Games and Strategy as two additional game modes on the network.
Why Avalanche is Considered a Market Leader
Avalanche outperforms its rivals in terms of economic value (measured in TVL) on a network for each unit of energy consumed in the market.
As a result, Avalanche is the most sustainable of the top blockchains.
In comparison to the 89,000 GWh of energy used by Bitcoin, the network consumes just 0.5 GWh annually.
What Makes Avalanche Special?
Avalanche is one of the most widely used digital currencies available, thanks to its distinctive algorithm and quick transaction speed.
The cryptocurrency aims to solve the blockchain issues of scalability, security, and decentralization. The digital currency is also one of the pioneers in the “Proof of Stake” mechanism. In order to operate decentralized apps (dApps) on its network, Avalanche enables smart contracts.
