The number of AVAX burned on the Avalanche network reached 10 times the previous week.
The number of AVAX burned on the Avalanche network, which operates with the Proof of Stake (PoS) mechanism, reached its all-time high (ATH) in parallel with the increasing transactions.
According to on-chain data last week $16.7 million worth 439,000 AVAX was burned. The weekly amount of AVAX burned has reached its highest level ever.
It was available on the Avalanche network from May to October last year. 2023Only a few thousand AVAX were burned per week leading up to . However, by November, this rate increased in parallel with the increasing interest and usage. a sudden jump lived.
Especially recently in the Avalacnhe network meme coins, Avax Inscriptions And Growing interest in NFTs It was among the main reasons for the increase in the amount of AVAX burned.
According to CoinGecko data, in the last week %12 AVAX, which is on the rise, at the time of writing from $39.80 is being traded. Last week, AVAX reported this lie for the first time since May 2022. over $40 He managed to get out.