Avalanche, the popular blockchain protocol, has received a major boost to its fees over the last month. Within that month, fees have spiked 5x due to an increase in daily transactions, according to Token Terminal.
This rise comes just a few weeks short of Avalanche’s scheduled Etna upgrade on the 16th of December.
What is Happening?
Avalanche recently launched “Avalanche9000”, an upgrade to improve interoperability among blockchains and make it easier to set up new Layer 1 networks. The Avalanche Foundation shared the exciting news:
“More than 700 projects are currently conducting their Layer 1s on our platform! Builders are welcome to apply for Retro9000 rewards, with funding prizes of up to $40M.”
Avalanche Growth
The other promising thing is that the Avalanche is growing beyond just fees, as daily trading volumes have recently hit an all-time high of almost $650 million since March. Meanwhile, its token, “AVAX”, has more than doubled in value in the past 30 days, thanks to a collective rally in the market.
Such news hints at one thing: the forthcoming Etna upgrade and rising activities signal that Avalanche is steadily rising. It is becoming an ideal development and user hub.
