Avalanche (AVAX) Experiencing Significant Growth In The Fourth Quarter Of 2022

AVAX cryptocurrency. (Photo; Doc. The Market Periodical)

JAKARTA - According to the latest research from Messari, the Avalanche network (AVAX) remained stable and continued to grow in the fourth quarter of 2022. Several subnet upgrades were launched during this period, while the average daily number of transactions increased, according to a Messari report.

The number of daily active addresses registered an average growth of 3.4 percent from 46,460 daily active addresses in the third quarter of 2022 and increased to 48,023 daily active addresses as of December 31, 2022. This figure also represents a growth of 34.7 percent year over year.

While the number of daily active addresses remained relatively stable, the average daily transaction number jumped to 2.9 million, marking an 84.6 percent increase from the 1.5 million recorded in Q3 2022. Year-over-year growth in the number of daily transactions was also calculated at 514.8 percent.

The graph above provides a detailed representation of average daily transactions since early 2022. The data shows that Avalanche's DFK and StepNetwork subnets began facilitating the majority of daily transactions soon after launch in 2022 Q1 and 2022 Q3, respectively.

With a stable number of active addresses and an increasing number of daily transactions, the average number of transactions per second also increased from 18 transactions per second in 2022 Q3 to 33 transactions per second in 2022 Q4, indicating an increase of 84.6 percent.

Subnet Release

Not only that, but the Avalanche team also released two subnets and two subnet upgrades in the last quarter of 2022, namely the Dexalot and XanaChain subnets. They launch on September 30, 2022, and November 18, 2022, respectively.

For information, a subnet is part of an internet network that is separate from the main network. This is done to divide a large network into smaller and organized parts. Subnetting helps in managing network resource allocation and improving network security and performance.

On October 20, 2022, Avalanche Mainnet rolled out the Elastic Validation upgrade. This innovation allows anyone to become a subnet validator by staking their subnet token. This feature also allows subnet creators to enable Proof-of-Stake (PoS) validation and earn rewards using their own subnet tokens.

On December 22, 2022, Avalanche rolled out Warp Messaging (AWM) across the network. This feature allows all subnets to communicate with each other without having to build individual bridges. This will make it easier to transfer assets or data between subnets for projects wishing to work on the Avalanche network.

With the launch of Elastic Validation and Warp Messaging, Avalanche Network continues to strengthen its position as an innovative and easy-to-use blockchain network. These two features help improve network efficiency and scalability, as well as provide a better experience for users and developers.