Avalanche

Coin

<ul class="news-points"> 
 <li><strong>72.3% of the gas consumed by the network was attributed to inscription activity.</strong></li> 
 <li><strong>AVAX was testing a key support level and technicals suggested it may continue to drop. </strong></li> 
 <li><strong>Wu Blockchain revealed that gas consumption for Avalanche’s C-Chain reached more than $20 million.</strong></li> 
</ul> 
<p>Wu Blockchain revealed in an X post earlier today that gas consumption for Avalanche’s C-Chain soared above $20 million in the past week. According to the post, 72.3% of the consumption was due to inscription activity. This inscription activity also accounted for 86.5% of the transactions on the network during the same period.&nbsp;</p> 
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   <p lang="en" dir="ltr">Avalanche C-Chain Gas spent more than $20 million in the past seven days. In the past 7d, inscription activity accounted for 72.3% of the gas consumption and 86.5% of the transactions on the Avalanche C-Chain. Gas fees briefly spiked past 5,000 nAVAX ($4.5) when Trade Joe…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1736566226212798804?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 18, 2023</a>
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<p>At press time, the price of <a href="https://coinmarketcap.com/currencies/avalanche/" target="_blank" rel="nofollow">AVAX</a> was down 7.91% according to CoinMarketCap. As a result, the cryptocurrency was changing hands at $39.01. Despite the 24-hour loss, AVAX’s price was still up more than 10% on the weekly timeframe. Furthermore, …</p>
<p>The post <a href="https://coinedition.com/avaxs-price-at-risk-of-dropping-despite-surge-in-network-activity/">AVAX’s Price at Risk of Dropping Despite Surge in Network Activity&nbsp;</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

AVAX’s Price at Risk of Dropping Despite Surge in Network Activity

Coin Edition

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