Ethereum Challenger Avalanche (AVAX) Exceeded 1,000,000 Monthly Active Addresses

According to the latest reports, it looks like AVAX just exceeded 1 million monthly active addresses. Check out the latest reports about this below.

In May, Avalanche (AVAX), a blockchain that uses proof of stake and competes with Ethereum (ETH), reached a significant milestone by surpassing one million monthly active addresses. This is the first time that Avalanche has achieved such a number.

According to the Avalanche Snow Report, which cites crypto data analytics platform Artemis, the network achieved a new milestone in April by surpassing its previous record of 840,000 monthly active addresses. The report attributes this growth to the rise of decentralized finance (DeFi) and stablecoins.

“[T]hat activity has stemmed from the increase in stablecoins, which now account for 32% of on-chain users, up from 6% YTD (year to date), along with growth in DeFi, which as a category now constitutes 33% of DAUs (daily active users).”

Avalanche is proud to announce their latest achievement – the launch of AvaCloud, a web3 launchpad that allows businesses to create fully managed blockchain ecosystems without the need for coding skills.

“We are proud to announce the launch of AvaCloud, the Web3 launchpad for deploying and scaling no-code, fully managed custom blockchains. AvaCloud marks a landmark shift in the blockchain development process.”

According to Emin Gün Sirer, CEO of Ava Labs, AvaCloud is a significant step towards the widespread adoption of blockchain technology.

The platform seeks to overcome various obstacles that businesses face when using this technology.

“Before AvaCloud, building your own blockchain could cost millions of dollars and years of research with an experienced team. Today, you can launch your own chain as a testnet in minutes, and deploy a fully mature network in weeks, all without hiring an extensive engineering team.”

Stay tuned for more news and make sure to check out the crypto markets as well.