Top 8 Avalanche Meme Coins for 2024 – Crypto News – Crypto News
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Top 8 Avalanche Meme Coins for 2024 – Crypto News

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A Brief of Recent Growth: Avalanche saw two significant upticks in on-chain activity in the fourth quarter of 2023, which the report claims “catalyzed sustained growth.” The introduction of the ASC-20 token standard, intended to encourage the growth of the Avalanche blockchain and boost transaction volume on the network around the time of launch, caused the first spike on November 22, 2023. It turned top Avalanche meme coins into attractive investment options.

Several well-known protocols and decentralized exchanges (DEXs), including Benqi Finance, Aave, Struct, and Delta Prime, are responsible for the spike in Avalanche’s TVL. You can read about TVL metrics to understand What TVL Is. Specifically, at the peak of Avalanche, Benqi accounted for more than 40% of the company’s TVL. Furthermore, by the end of 2023, Trader Joe’s trade volume had grown by over 570%. At its peak on December 21, it accounted for over 80% of Avalanche’s decentralized finance (DeFi) swap volume.

In Q4 of 2023, the Avalanche network witnessed several developing trends, a rise in on-chain activity, and a TVL surge. These trends included increased daily market capitalization of real-world assets (RWAs) and the deployment of several gaming and metaverse projects.

The Future of Avalanche Ecosystem: The general outlook for the Avalanche network is positive due to the network’s natural growth in user base.  Notwithstanding changes in on-chain transactions and fees, over 12,000 deployers have produced over a quarter of a million contracts since October 2023, demonstrating robust smart contract creation on Avalanche.  As with all cryptocurrencies, it is impossible to forecast AVAX’s future. Nonetheless, the mood right now is optimistic.

The chain’s “Web3 efforts” may have contributed to Avalanche’s latest achievements. First, its NFT Dokyoworld twice rose to the top of the NFT trading list on all chains. Second, after TSM’s Blitz App Subnet went live and started handling payments for its premium service, its gaming industry took off. Third, with strong Asian support, its inscriptions market is doing reasonably well. Their price is rising in part due to the rise in activities.

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