Avalanche MOM volume up 167% as L1 networks record growth
Recent data from DeFiLlama suggest an increasing adoption of layer 1 (L1) blockchains in the decentralized finance (defi) sector. Avalanche (AVAX), an Ethereum Virtual Machine (EVM)-based layer 1 solution, is experiencing a significant surge in trading activity. Avalanche’s trading volume has risen to approximately $2.73 billion. Citing DeFiLlama, crypto reporter Colin Wu revealed that Avalanche’s weekly trading volume escalated by 167% month-on-month during the recent week to reach its highest level since July 2022. In November, the transaction volume on multiple L1s experienced significant growth . The transaction volume on the Avalanche increased by 167% MOM to $2.73 billion, the highest since July last year; the transaction volume of Osmosis increased by 113% MOM to $490 million; in… — Wu Blockchain (@WuBlockchain) December 2, 2023 Similarly, per DefiLlama’s data, Osmosis’s (OSMO) transaction volume also increased by 113% to 490 million, with Solana (SOL), S...