Avalanche releases new Banff4 replace; analyzing the consequences on AVAX  

by | Dec 11, 2022 | Crypto | 0 comments

After a not-so-exciting week, can this new update do any good for AVAX? 


  • Avalanche launched a brand new community replace that got here with a number of upgrades 
  • AVAX’s quantity went up final week, however gross sales declined 

Avalanche [AVAX] launched its newest community replace on 10 December, which introduced a number of upgrades to the blockchain. The brand new replace, named Banff 4, got here with new community optimizations to scale back the node’s bandwidth utilization and put together for the launch of cross-subnet messaging.

This model (v1.9.4) is backwards suitable with v1.9.0. Although it’s optionally available, the builders have really useful that customers obtain it.

Learn Avalanche’s [AVAX] Price Prediction 2023-2024

Avalanche had an fascinating week

AVAX Every day, a well-liked Twitter deal with that posts in regards to the newest developments within the Avalanche ecosystem, not too long ago printed the community’s weekly stats. These stats identified just a few fascinating information factors.

As an illustration, AVAX registered double-digit progress in its quantity over the previous week. This was a constructive growth. As per the tweet, the coin’s quantity elevated by over 14%. Nonetheless, regardless of the uptick, AVAX’s gross sales went down by 5%.

Avalanche’s weekly chart efficiency was additionally lower than par, because it registered unfavourable positive factors. As per CoinMarketCap, at press time, AVAX was buying and selling at $13.44 with a market capitalization of over $4.1 billion. A take a look at AVAX’s on-chain metrics gave a greater understanding of what went fallacious final week.

Had been metrics in charge?

Surprisingly, Santiment’s chart revealed that regardless of large positive factors in quantity, AVAX’s quantity persistently decreased during the last week. Not solely that, AVAX additionally dipped in reputation, as its social dominance declined as properly.

Supply: Santiment

Nonetheless, AVAX’s growth exercise elevated, however this may be attributed to the newest replace. This was a constructive growth as a result of it mirrored the builders’ elevated efforts to enhance the blockchain.

Avalanche additionally obtained fairly some curiosity from the derivatives market as its Binance funding price went up after registering a decline on 8 December 2022. 

Supply: Santiment





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