Assessing Avalanche’s performance across different verticals in April

Assessing Avalanche’s performance across different verticals in April

May 19, 2023

By Suzuki Shillsalot

Avalanche’s monthly active addresses recorded an increase of 86% in April.

There was a 35% drop in monthly decentralized exchange (DEX) volume in April.

For the month of April, the Avalanche [AVAX] ecosystem released a status report that included significant updates about network performance and platform upgrades.

One of the biggest takeaways was the exponential growth in active addresses. The monthly active addresses across all subnets hit nearly 780,000 in April, recording a massive increase of 86% from the previous month.

While the majority of active addresses originated from the C-Chain, the network’s smart contract layer, there were also appreciable increases in active addresses coming from new Subnets.

As a result of the strong network demand, gas fees surged to levels last seen in May 2022, the phase just before the onset of the 2022 bear market. This underlined that on-chain activity on the layer-1 blockchain recovered substantially in April.