Messari released the Avalanche 2023 second quarter report. The report shows that the average daily active addresses and transaction volume of the Avalanche C chain increased by 132.1% and 162.2% respectively.
AVAX revenue grew 173.1% sequentially (150.3% in USD). The revenue increase was partly due to a 5.9% increase in transaction fees, but was largely due to LayerZero activity. TVL denominated in US dollars fell quarter-on-quarter, down 19.4%.
TVL denominated in AVAX, however, increased by 9.7%, suggesting that new capital inflows are pushing TVL higher relative to asset prices denominated in US dollars.
Secondary sales in the Avalanche NFT field fell by 38.3% month-on-month in the second quarter, and the number of independent NFT buyers fell by 49.8% month-on-month, the second consecutive quarter of decline.