Decoding what Avalanche Q3 report could mean for your portfolio

ambcrypto.com:

On 11 September, Avalanche [AVAX] saw some important announcements and events, as OpenSea, the largest peer-to-peer marketplace for NFTs on Ethereum launched on the Avalanche proof-of-stake blockchain.

Gemini, a digital asset exchange and custodian, had also announced support for AVAX trading on the exchange. However, Avalanche’s third-quarter report indicated that the network had not had a good run.

It was discovered that the asset’s network did not perform particularly well during the third quarter of 2022, which was one of the reasons why this quarter was not considered to be very beneficial.

A modest increase of 3.3% was seen in the value of the Avalanche network. A decrease in daily transactions of 65.5% and a decrease in transaction fees of 76.2% led to a 94.1% decrease in overall revenue.

When the daily transaction meric was examined, it was discovered that there had been a reduction in the total number of transactions that took place on the network.

According to the data, the number of daily transactions had significantly decreased from the 934,030 that could be observed in May to 145,518 which appeared to be the new volume range on the network. This was indicative of less usage of the network.

Source: SNOWTRACE

It seemed as though the number of daily active addresses took a plunge as well.

The number of active addresses was over 113,000 in May, but by June it had dropped to just over 30,000. Thus, indicating that there was less business conducted over the network.

The unique addresses metric, on the other hand, was positive, showing an upward trend, and reaching over three million addresses.

Source: SNOWTRACE

Meanwhile, the development activity indicator demonstrated a downward trend, and its value of 8.45 indicated