Avalanche Transactions Hit 1 Million! (Are You Holding AVAX?)

Avalanche has seen a surge in onchain activity, with its 7-day average transactions surpassing 1 million, the highest in over a year, mainly driven by https://t.co/YRfGHqe9vA’s high-frequency minting of ERC-404-style tokens directly from X posts. This spike doubled average fees but did not come with a similar increase in active addresses, which actually fell after hitting a record high in May. According to The Block, this indicates that a smaller group of users is generating more transactions rather than an influx of new wallets.

Source: The Block