The number of transactions on the Avalanche network continues to oscillate between ~90k and 200k. However, it rose to 290k on March 11th, driven by Trader Joe’s, USDC, and two mysterious wallet addresses.
There has also been a significant increase in the number of wallet addresses transacting on the network. In particular, on March 10 and 11, daily active wallet addresses are growing rapidly, with more than 120,000 each day. On the other hand, the average amount of gas dispensed follows a similar pattern. The same goes for transactions except January 1st, where it exceeded 40,000, although the number of transactions did not increase significantly.
In the first quarter, the average daily gas price paid on the Avalanche C-Chain was much lower compared to Ethereum. Paid on Avalanche, which was $16 on March 11, Avalanche C-Chain users will only spend between $0.07 and $0.32 for gas.
Nansen’s data suggests that Despite the sudden spike in transactions on both networks on March 11, the average gas paid on the Avalanche C-Chain is still 76 times lower than Ethereum.
Mega Septiandara, a Nansen Research Analyst, said: “Even as the Web3 ecosystem recovers from an event that undermined industry sentiment, Avalanche is off to a very profitable start to the year. Combined with several product launches and partnerships aimed at promoting widespread adoption. and restore confidence in this sector With a strong focus on driving innovation, Avalanche is undoubtedly poised to grow as we enter the second quarter.”
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