TechFlow News — Messari has released its Avalanche Q2 2023 report, showing that the Avalanche C-Chain's daily active addresses and transaction volume increased by 132.1% and 162.2% respectively. Revenue from AVAX rose 173.1% quarter-on-quarter (up 150.3% in USD terms). This growth was partly driven by a 5.9% increase in transaction fees, but primarily fueled by activity from LayerZero.
However, total value locked (TVL) measured in USD declined by 19.4% quarter-on-quarter. Nevertheless, TVL denominated in AVAX grew by 9.7%, indicating new capital inflows pushed TVL higher relative to the dollar-denominated price of the asset. In Avalanche’s NFT sector, secondary market sales dropped 38.3% quarter-on-quarter, while the number of unique NFT buyers fell 49.8%, marking the second consecutive quarter of decline.
