Osmosis

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Avalanche

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 <p class="is-style-lead">Recent data from DeFiLlama suggest an increasing adoption of layer 1 (L1) blockchains in the decentralized finance (defi) sector.&nbsp;</p>
 <p>Avalanche (AVAX), an Ethereum Virtual Machine (EVM)-based layer 1 solution, is experiencing a significant surge in trading activity. Avalanche’s trading <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> has risen to approximately $2.73 billion.&nbsp;</p>
 <p>Citing DeFiLlama, crypto reporter Colin Wu revealed that Avalanche’s weekly trading volume escalated by 167% month-on-month during the recent week to reach its highest level since July 2022.&nbsp;</p>
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    <p lang="en" dir="ltr">In November, the transaction <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> on multiple L1s experienced significant <a rel="noopener noreferrer nofollow" title="growth" href="https://thebittimes.com/tag/growth.html">growth</a>. The transaction <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> on the Avalanche increased by 167% MOM to $2.73 billion, the highest since July last year; the transaction <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> of Osmosis increased by 113% MOM to $490 million; in…</p>— Wu Blockchain (@WuBlockchain) December 2, 2023
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 <p>Similarly, per DefiLlama’s data, Osmosis’s (OSMO) transaction volume also increased by 113% to 490 million, with Solana (SOL), Sui (SUI), and THORChain (RUNE) also hitting record highs.</p>
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 <p>Some analysts see this <a rel="noopener noreferrer nofollow" title="growth" href="https://thebittimes.com/tag/growth.html">growth</a> in the adoption of L1 <a rel="noopener noreferrer nofollow" title="networks" href="https://thebittimes.com/tag/networks.html">networks</a> as an indication of a potential shift in user preference within the defi space. Traders and investors are constantly seeking faster and cheaper transaction fees.</p>
 <p>Avalanche’s jump in trading volume marked an 88% increase in the price of AVAX in the last 30 days and a more modest 5.6% uptick over the last seven days. In 24 hours, AVAX’s price has also increased 2.3%, with the token currently trading at $22.34.</p>
 <p>Most of the other tokens also performed similarly. OSMO registered a 2.7% rise in the previous 24 hours and 9.4% in seven days. SUI was up 2.3% in one day but reported a 3.9% drop in seven days.</p>
 <p>The best performance among the L1 chains came from THORChain, whose native token jumped 12% to $7.20 in 24 hours. Its 7-day price chart was also just as impressive, going up 33%. However, it was most exceptional over 30 days, registering nearly a 155% increase in that time.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/avalanche-mom-volume-up-167-as-l1-networks-record-growth-tbt72449.html">https://thebittimes.com/avalanche-mom-volume-up-167-as-l1-networks-record-growth-tbt72449.html</a></p>

Avalanche MOM volume up 167% as L1 networks record growth

TheBitTimes

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