Avalanche Rockets in August: 763K Trades, $2.7B Volume

Increased Trading Volume and Active Traders

In August, Avalanche’s ecosystem experienced a notable 23.5% increase in trading volume, with approximately 53,000 active traders engaging on the network. The platform saw significant activity, with a total of 763,700 deals executed across various decentralized exchanges (DEXs), resulting in a substantial total trading volume of $2.7 billion.

Trader Joe Leads the Avalanche Ecosystem

Among the trading platforms within the Avalanche ecosystem, Trader Joe emerged as the leader, recording approximately $2 billion in traded volume and attracting 27,900 traders in August. This impressive performance underscores Trader Joe’s dominance and its role in driving the ecosystem’s growth.

Uniswap’s Role in Avalanche’s Growth

Following closely, Uniswap demonstrated its continued significance in the Avalanche ecosystem. In August, Uniswap had 15,800 traders and a total trading volume of around $280.4 million. This highlights Uniswap’s ongoing contribution to Avalanche’s decentralized exchange scene.

Increased Engagement and Key Trading Trends

The number of traders in Avalanche’s ecosystem saw a significant rise, with nearly 53,000 active participants in August. This uptick in engagement reflects growing interest and confidence in the Avalanche network. Notably, Mondays experienced the highest trading activity, indicating that traders are particularly eager to start their week on a high note.

Expansion of Traditional Financial Products on Avalanche

According to CNF, Franklin Templeton has expanded its blockchain-based money market fund, Franklin OnChain, to the Avalanche network. This move integrates traditional financial products with blockchain technology, enhancing the network’s financial offerings.

AVAX Token Issuance and Market Trends

In August, Avalanche issued 9.54 million AVAX tokens and announced plans to release 1.6 million AVAX tokens quarterly through 2030. This strategic issuance aims to increase liquidity and support the ecosystem’s long-term growth. As of now, AVAX is trading around $22.21, reflecting a 3.60% decrease over the last 24 hours, with a market cap below $9 billion.