Messari: Avalanche Q2 revenue increased by 173.1% quarter-over-quarter, while TVL decreased by 19.4% quarter-over-quarter

ChainCatcher news, Messari released the Avalanche Q2 2023 report, which shows that the average daily active addresses and transaction volume on the Avalanche C chain increased by 132.1% and 162.2%, respectively. AVAX revenue grew by 173.1% quarter-over-quarter (150.3% growth in USD terms).

Part of the revenue growth is attributed to a 5.9% increase in transaction fees, but it is mainly due to the activities of LayerZero. The TVL in USD terms decreased by 19.4% quarter-over-quarter. However, the TVL in AVAX terms increased by 9.7%, indicating that new capital inflows are driving the TVL up relative to the asset prices in USD. The secondary sales in the Avalanche NFT space decreased by 38.3% quarter-over-quarter in Q2, along with a 49.8% quarter-over-quarter decline in the number of unique NFT buyers, marking a decline for the second consecutive quarter.