Avalanche Network Gathers Momentum to Close Out 2024 in Style
As the year draws to a close, Avalanche Network finds itself on a strong upward trajectory. Propelled by bullish market momentum that’s shifting attention away from Bitcoin coupled with a slew of deliverables by key Avalanche projects, the network appears determined to draw mindshare from other ecosystems – and all the signs suggest that its approach is working.
From unveiling Avalanche9000 – a major protocol upgrade that has streamlined its consensus mechanism – to supporting diverse projects developing novel web3 use cases, Avalanche has established itself as a formidable Layer 1. Its emphasis on speed, low costs, and eco-friendliness has made it a popular choice for developers building decentralized applications across DeFi, gaming, and NFTs. The month may be young, but there are already signs that Avalanche December will live up to its billing.
Avalanche Adoption Continues to Snowball
Avalanche9000, revealed earlier this quarter, has been a transformative moment for the network. Designed to optimize throughput and improve validator incentives, the upgrade has positioned Avalanche to handle the growing demands of its rapidly expanding ecosystem while maintaining the low latency and high scalability that are its hallmarks.
As a result, developers and users alike have reported improved service, which has contributed to core metrics including TVL rising; it now stands at a year-high $1.5B. AVAX, meanwhile, is up 120% in a month, as the network regains its stride, now infused with a clearer idea of what it stands for and a renewed energy among Avalanche builders who are determined to distinguish the L1 from the rest of the chasing pack.
This momentum is evident in Avalanche’s recent uptick, marked by increased transaction volumes and active wallets. With a robust developer toolkit, the network supports a wide range of projects that cater to both institutional and retail users. The versatility of Avalanche’s architecture, particularly its subnet functionality, allows developers to create bespoke blockchains optimized for specific use cases. This unique capability has made Avalanche a go-to platform for projects seeking customization without compromising scalability or security.
VALR’s Avalanche December Promises a Festive Finish
Adding a seasonal flourish to Avalanche’s strong finish to the year is VALR’s Avalanche December campaign, which offers users a chance to share in $40,000 worth of AVAX rewards. Designed to drive engagement and incentivize trading, the campaign arrives at the perfect time to capture the prevailing optimism that’s coursing through the Avalanche community.
The campaign, running throughout December, is simple yet rewarding. VALR users can earn AVAX by participating in trading activities on VALR’s spot, margin, futures, and OTC platform, and top traders are eligible for generous bonuses. Beyond the rewards, the campaign underscores the broader adoption of Avalanche as exchanges and platforms increasingly recognize its potential to attract a diverse user base, ranging from retail newcomers to pro traders and institutions.
Picking Up Pace Into 2025
As Avalanche closes out the year on a high note, the focus now shifts to 2025, a year ripe with opportunities for further growth. Having regained momentum, onboarded new partners, and made its pitch for why Avalanche matters in a multichain world, the L1 is well-positioned to capitalize on the increasing demand for scalable and efficient blockchain solutions.
While the AVAX token has also experienced positive price action, it is Avalanche’s infrastructure and strategic partnerships that truly stand out. At the recent Avalanche Summit LATAM, the talk was about institutional adoption and what must be done to onboard enterprises in their droves through advocating use cases involving tokenization including RWAs.
From powering institutional DeFi applications to supporting decentralized gaming platforms, Avalanche has carved out a distinct space for itself in the blockchain industry. Its core protocols have matured, laying a strong foundation for the sort of DeFi primitives that provide the building blocks for new applications to be developed spanning spot trading, perps, lending, and tokenization. Now it’s a case of applying the finishing touches that will make it easier for consumers and institutions alike to onboard and discover what Avalanche has to offer.
With initiatives like Avalanche9000 and the VALR campaign, the network has not only solidified its position as a top Layer 1 blockchain but also laid the groundwork for a fruitful 2025. As snowflakes fall and festive cheer fills the air, Avalanche Network is well-poised to turn its recent momentum into a blizzard of success in the coming year.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
