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Avalanche has hit another landmark regardless of the Powell-driven drawdown. Patrick Sutton, Ava Labs exec, revealed that Avalanche attained an ATH in monthly transactions. He tweeted that AVAX conducted 32.7M transfers in August with a week to spare.

Avaxholic confirmed that transactions were 33.2 million one day later. Remember, monthly transactions hit two new ATHs in only three months this year. That confirmed Avalanche’s outstanding development lately, regardless of prevailing market conditions.

AVAX On a Roll!

Avaxholic also tweeted about Avalanche’s growth since June’s bottom. The report indicated that the crypto witnessed the highest transaction growth on EVM blockchains. Avalanche leads these blockchains with 18.8%, whereas Fantom follows at 12.6%.

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Data also highlighted other all-time highs for AVAX in August with a week to spare. Avalanche has seen magnifying activity, which also reflects on data variables. Also, AVAX-based non-fungible tokens surpassed 253K sales lately.

Moreover, Avalanche saw a daily transfer record of 1.64 million transactions. Also, the USDC’s native supply on the ecosystem hiked to 1.66 million on August 25.

Meanwhile, the recent data about the GameFi space has triggered queries for Avalanche lately. DappRadar shows GameFi addresses saw a substantial uptick to 1.5 million during 2021 second half, before gradual drops to 1 million.

Nevertheless, this’s an impressive performance compared to decentralized finance address performance within that timeframe. That shows the GameFi space has strengthened and can retain users amid downtrends.

What about AVAX?

Avalanche’s native coin AVAX saw a massive slump within the last 24 hours amid the crypto market plunged. The alternative token dropped 11% on its daily chart, dragging it towards the support line at $20.

That has seen it erasing its weekly gains, losing 10.09% (Coinmarketcap data). The crypto space responded woefully to Powell’s latest speech, and AVAX’s wasn’t an exemption.

The cryptocurrency space sees bearish tendencies. While publishing this content, most tokens hover with slight 24-hours losses. The overall market capitalization shows pessimism, changing hands at $966.48 billion, following a 0.67% within a day. Also, Bitcoin plummeted, showing weakness at $20,022.31.

Feel free to share your thoughts in the section below.

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Franklin Smith

By Franklin Smith

Franklin Smith is a Senior Crypto Journalist and Analyst at Herald Sheets, with over seven years of experience in the cryptocurrency and blockchain industry. Known for his insightful articles and in-depth analysis, he is an influential voice providing valuable insights to investors and enthusiasts. Franklin holds a bachelor's degree in Journalism and Communications from the University of California, Berkeley.