- Daily active addresses on the network hit a 6-month high.
- Using AvaCloud, businesses could speed up the deployment of subnets.
The Avalanche [AVAX] ecosystem has been expanding steadily on the back of innovative offerings introduced lately such as the Cortina Upgrade and the Evergreen Subnets. These products have bolstered network activity on the layer-1 (L1) blockchain and attracted new users.
Прочитајте Аваланцхеово [АВАКС] предвиђање цена 2023-24
A crypto analyst took to Twitter to reveal that daily active addresses on the network have hit a 6-month high, a testimony to Avalanche’s increasing appeal for dApp deployment.
И тек тако, $ АВАКС Daily Active Users hit a 6 month high.
Probably nothing. 🔺 pic.twitter.com/qH5q0MV1Kq
— Цар Осмо🧪 (@Фловсликеосмо) Може 24, 2023
To boost the development of subnets, Ava Labs, the main developer behind the Avalanche blockchain, announced the launch of AvaCloud, a Web3 launchpad which will help businesses build no-code, fully managed blockchain ecosystems.
Avalanche on cloud nine
Subnets are the preferred scaling solution for Avalanche which allow users to create and deploy application-specific blockchain networks. Platforms have a lot to gain from leveraging these app-specific blockchains if they want more control over infrastructure.
However, the process has become complex, time consuming and expensive. This is where AvaCloud comes into the picture.
Поносни смо што објављујемо лансирање @АваЦлоуд, Веб3 лансирна табла за примену и скалирање без кода, потпуно управљаних прилагођених блок ланаца.
АваЦлоуд означава значајан помак у процесу развоја блокчејна. хттпс://т.цо/лТ93ИЗВ6сД
Let’s dive in to AvaCloud 👇 пиц.твиттер.цом/ддКсј0ахИИв
— Ава Лабс 🔺 (@авалабсоффициал) Може 24, 2023
AvaCloud product suite consists of four components like automated blockchain builder, managed validators, comprehensive data tools, and chain interoperability.
Using these, businesses can significantly cut down time-to-market and operating costs connected with the deployment of subnets without having to hire Web3 experts.
Ava Labs stated that Korean conglomerate SK, gaming app Blitz, and AAA game studio Shrapnel were among the early users who started building their custom chains using AvaCloud.
Development activity rises
Another factor corroborating Avalanche’s expanding landscape was the growing number of smart contracts and developers. Crypto analyst Alex Wacy drew attention to the strong performance of the proof-of-stake (PoS) chain on these two fronts.
Let’s talk about developers:
The engagement of developers is often overlooked, but the number of contracts and deployers can be a powerful indicator of interest in a project.
As evident, this metric indicates strong engagement.
— АлΞк Ваци 🌐 (@ваци_тиме1) Може 24, 2023
Furthermore, despite a large drop in the average price of the AVAX token in the bear market, the total value locked (TVL) has witnessed a lower degree of reduction, indicating sustained interest in the Avalanche network.
Realistic or not, here’s AVAX’s market cap in BTC terms
AVAX in doldrums
The token exchanged hands at $14.15 at the time of publication, representing a fall of 1.83% in the last 24 hours, data from CoinMarketCap revealed. AVAX was in the middle of a bearish phase, having recorded monthly losses of over 16%.
Additionally, the sentiment percolated to futures markets as well. As per Coinglass, there was a dominance of bearish short positions in the market.
Source: https://ambcrypto.com/avalanche-attempts-to-expand-its-user-base-by-launching/