{"id":642296,"date":"2024-09-16T18:00:52","date_gmt":"2024-09-16T18:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=642296"},"modified":"2024-09-16T13:41:36","modified_gmt":"2024-09-16T13:41:36","slug":"avalanche-revenue-nosedives-over-40-in-q2-impact-on-avax-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/avalanche-revenue-nosedives-over-40-in-q2-impact-on-avax-price\/","title":{"rendered":"Avalanche Revenue Nosedives Over 40% In Q2 – Impact On AVAX Price"},"content":{"rendered":"

Avalanche (AVAX) has had a terrible Q2 2024 by several standards, going by a significant decline in market capitalization coupled with low revenue generation.<\/p>\n

Related Reading: Toncoin (TON) Climbs 20% \u2013 Here\u2019s What\u2019s Pushing The Price Up<\/a><\/div>\n

Messari’s recent report indicated that AVAX faced a fierce correction after two quarters of growth on the trot. Market capitalization dipped by 40% within the last quarter to stand at $11.6 billion. Well, despite this slump, the ecosystem is still sound as AVAX<\/a> still has a market cap of $4.5 billion \u2014 that’s a 157% surge compared to the same period in 2023.<\/p>\n

\n

State of @avax<\/a> Q2<\/p>\n

Key Update: Several partnerships announced, notable ones include @stripe<\/a>, @homium<\/a>, and @konami<\/a>.<\/p>\n

QoQ Metrics \ud83d\udcca
\n– Staked AVAX \u2b06\ufe0f 6%
\n– DeFi TVL (AVAX) \u2b06\ufe0f 11%
\n– Stables \u2b06\ufe0f 13%<\/p>\n

Read the full report \ud83d\udd17https:\/\/t.co\/7xsKIj1ml3<\/a> pic.twitter.com\/0dSZnfXOVE<\/a><\/p>\n

\u2014 Messari (@MessariCrypto) September 13, 2024<\/a><\/p><\/blockquote>\n

Price Forecast Shines Through The Dip<\/strong><\/h2>\n

The slump is paining the larger ecosystem, but the future of AVAX seems brighter. In fact, the price forecast of the token will shine hope for investors. AVAX is seen going up 70.68% over the next three months, showing a bounce from the recent prices, analysis from CoinCheckup<\/a> shows.<\/p>\n

\"\"<\/p>\n

This bullish sentiment is bolstered by long-term projections that suggest a 166% growth over the next year. It seems AVAX is poised for recovery, making it an intriguing asset for traders keeping an eye on the market.<\/p>\n

Revenue Plunge And On-Chain Activity<\/strong><\/h2>\n

Revenue for the Avalanche ecosystem was another source of worry, as its value went down from 176,700 AVAX in Q2 2024 to 96,200 AVAX during the same period. In dollar terms, that translated into $7.5 million going down to $3.5 million.<\/p>\n

Pullback is due to slowed activity across different on-chain platforms. However, some analysts believe that a renewed interest in on-chain-based transactions could help revive revenue growth in the short term.<\/p>\n

Despite these drops, staking remains robust within the Avalanche ecosystem. There is a 6% increase in the number of staked AVAX tokens due to new measures to boost staking. Staking rewards continue to attract new investors despite a fall in active validator count by 7%. This reflects some unease among validators amidst these market conditions.<\/p>\n

AVAX is currently trading at $23,72. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Network Stability<\/strong><\/h3>\n

Average transaction counts remain mixed. With approximately 11,262 transactions and an average block time of 1.61 seconds, Avalanche is showing stability. More than 2% of the total coins have been sent from the Elliptic Curve Digital Signature Algorithm wallet. Despite the recorded drops, new initiatives are expected to boost staking and future coin balances.<\/p>\n

Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures<\/a><\/div>\n

Interestingly, where the network had an average transaction that depreciated by 57% from 495,000 to 201,500, some protocols on Avalanche refused to abide by this trend. Tether (USDT) and GMX increased transaction volumes, which indicated specific sectors in the system are doing well despite this broad slowdown for the crypto market.<\/p>\n

Since AVAX is preparing for a potential rebound from the market, its investors may be able to see renewed interest in the asset in case such forecasted growth in price comes true.<\/p>\n

The partial recovery in the transaction volumes for selected protocols also suggests something more is being involved under the surface–a sign that Avalanche might pick up fast once the crypto market picks up. For now, investors are keen enough to observe how AVAX acts in the short and medium terms.<\/p>\n

Featured image from Durango.com, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Avalanche (AVAX) has had a terrible Q2 2024 by several standards, going by a significant decline in market capitalization coupled with low revenue generation. Related Reading: Toncoin (TON) Climbs 20% \u2013 Here\u2019s What\u2019s Pushing The Price Up Messari’s recent report indicated that AVAX faced a fierce correction after two quarters of growth on the trot. Market capitalization dipped by 40% within the last quarter to stand at $11.6 billion. Well, despite this slump, the ecosystem is still sound as AVAX still has a market cap of $4.5 billion \u2014 that’s a 157% surge compared to the same period in 2023. State of @avax Q2 Key Update: Several partnerships announced, notable ones include @stripe, @homium, and @konami. QoQ Metrics \ud83d\udcca – Staked AVAX \u2b06\ufe0f 6% – DeFi TVL (AVAX) \u2b06\ufe0f 11% – Stables \u2b06\ufe0f 13% Read the full report \ud83d\udd17https:\/\/t.co\/7xsKIj1ml3 pic.twitter.com\/0dSZnfXOVE \u2014 Messari (@MessariCrypto) September 13, 2024 Price Forecast Shines Through The Dip The slump is paining the larger ecosystem, but the future of AVAX seems brighter. In fact, the price forecast of the token will shine hope for investors. AVAX is seen going up 70.68% over the next three months, showing a bounce from the recent prices, analysis from CoinCheckup shows. This bullish sentiment is bolstered by long-term projections that suggest a 166% growth over the next year. It seems AVAX is poised for recovery, making it an intriguing asset for traders keeping an eye on the market. Revenue Plunge And On-Chain Activity Revenue for the Avalanche ecosystem was another source of worry, as its value went down from 176,700 AVAX in Q2 2024 to 96,200 AVAX during the same period. In dollar terms, that translated into $7.5 million going down to $3.5 million. Pullback is due to slowed activity across different on-chain platforms. However, some analysts believe that a renewed interest in on-chain-based transactions could help revive revenue growth in the short term. Despite these drops, staking remains robust within the Avalanche ecosystem. There is a 6% increase in the number of staked AVAX tokens due to new measures to boost staking. Staking rewards continue to attract new investors despite a fall in active validator count by 7%. This reflects some unease among validators amidst these market conditions. Network Stability Average transaction counts remain mixed. With approximately 11,262 transactions and an average block time of 1.61 seconds, Avalanche is showing stability. More than 2% of the total coins have been sent from the Elliptic Curve Digital Signature Algorithm wallet. Despite the recorded drops, new initiatives are expected to boost staking and future coin balances. Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures Interestingly, where the network had an average transaction that depreciated by 57% from 495,000 to 201,500, some protocols on Avalanche refused to abide by this trend. Tether (USDT) and GMX increased transaction volumes, which indicated specific sectors in the system are doing well despite this broad slowdown for the crypto market. Since AVAX is preparing for a potential rebound from the market, its investors may be able to see renewed interest in the asset in case such forecasted growth in price comes true. The partial recovery in the transaction volumes for selected protocols also suggests something more is being involved under the surface–a sign that Avalanche might pick up fast once the crypto market picks up. For now, investors are keen enough to observe how AVAX acts in the short and medium terms. Featured image from Durango.com, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":642332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,9885,83347,6664],"class_list":["post-642296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-avalanche","tag-avax","tag-crypto"],"acf":[],"yoast_head":"\nAvalanche Revenue Down Over 40% In Q2 - Impact On AVAX Price<\/title>\n<meta name=\"description\" content=\"Avalanche (AVAX) has had a terrible Q2 2024 by several standards, going by a significant decline in market capitalization coupled with low revenue\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/avalanche-revenue-nosedives-over-40-in-q2-impact-on-avax-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avalanche Revenue Down Over 40% In Q2 - 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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