Avalanche (AVAX), the layer one blockchain for decentralized apps and blockchain networks, recently announced its quarterly report on May 2nd. Based on the report, it was a forgettable first quarter for the blockchain, which recorded declines across several areas. The notable areas include TVL, active addresses, and NFT sales.
Per active users, the Avalanche network (AVAX) registered a decline. Using average active addresses across subnets and the C-Chain as a metric, Avalanche (AVAX) witnessed a decline of 20% quarter-on-quarter. However, without being too hard on the network and placing overly high expectations, it would have been difficult to beat 2022’s quarter 4 surge in active addresses.
Further, in the DeFi industry, Avalanche (AVAX) also had an underwhelming quarter 1, registering a network value decline and TVL-denominated decrease of over 34%. In addition, its performance in the NFT ecosystem didn’t fare any better, despite OpenSea’s support and Joepeg’s $5 million investment in the NFT marketplace. Avalanche (AVAX) recorded a decline in the NFT secondary space volume by 31.6%, with NFT buyers reducing by 9.8%.
The only positive takeaway for Avalanche (AVAX) in the last quarter was its increase in revenue, which increased by over 10% quarter-on-quarter. This increase is due to an 18.2% increase in transaction fees and not necessarily high participation. Nevertheless, Avalanche (AVAX) is optimistic about quarter two, with positive developments like an increase in the number of stakers by over 100,00% in the past 30 days ongoing.
With much to look forward to in Quarter 2, investors are still unconvinced about Avalanche (AVAX), which has been in consolidation for the past 30 days. With a better guarantee for success in the Sparklo presale, they are choosing to invest in it rather than Avalanche (AVAX).
Considering Sparklo’s unique fundamentals, it will be a statement-maker in the crypto landscape. As the first blockchain-based precious metal investment platform in the world, investors are lining up to become early adopters of the tech and also to make a profit. According to analysts, its upside potential could be as high as 4,000% in just a year.
As a rare metal investment platform, Sparklo is aiming to make investments in real-world assets like gold, platinum, and silver accessible through fractionalized NFT or bits of NFT, with a purchase of the complete NFT collection resulting in the delivery of the physical assets to investors.
Currently, the presale price is $0.017, with an additional 30% bonus that ends tomorrow, May 5th. This has further spiked participation in the presale, with investors hoping to receive the bonus before the window closes. Furthermore, the liquidity lock of 100 years, smart contract audit by the InterFi network, and ongoing KYC verification have improved trust in the project, therefore increasing participation.
Find out more about the presale:
Buy Presale: https://invest.sparklo.finance
Website: https://sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance