Avalanche contract deployment spikes – did AVAX feel the ripple effect

Avalanche contract deployment spikes – did AVAX feel the ripple effect

May 1, 2023

By Himalay Patel

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

Avalanche witnessed a spike in smart contract deployment.

The DeFi sector saw little growth as NFT trades on the network declined.

Avalanche [AVAX] has observed growth on multiple fronts over the last few months. Noticeably, one area where it has grown the largest would be in terms of smart contracts deployment.

A spike in contract deployment on the Avalanche network can indicate increased usage and adoption of the protocol. More contracts being deployed on the network means more developers are building on Avalanche and creating decentralized applications (dApps) that can run on the network.

This can lead to a wider range of use cases for the network and potentially attract more users and projects, which in turn can increase the demand for the native token, AVAX.