Avalanche Watch: March Edition – How Avalanche is Revolutionizing the Crypto Space with Data and Innovation

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Avalanche Watch: March Edition – A Data-Driven Report on the Avalanche Ecosystem

Are you curious about what's happening in the Avalanche ecosystem? Do you want to learn more about the latest news, trends, projects, and network performance of this fast and scalable smart contracts platform? If so, you're in the right place!

In this article, we will summarize the main points of the Avalanche Watch: March Edition, a data-driven monthly report powered by data and from The Tie. This report covers major news announcements, platform upgrades, projects, network performance, and more! 🚀

Let's dive in and see what Avalanche has achieved in March !

What's New on Avalanche

Avalanche had a busy and productive month with many exciting developments and initiatives. Here are some of the highlights:

  • – The Avalanche Foundation launched a new, two-part program to the ecosystem on Avalanche. Digital artists of any skill level can apply for Artist-in-Residence and receive funding, one-on-one mentorship, virtual workshops, and more. Additionally, through the new Mona Lisa Initiative, the Avalanche Foundation will gift Avalanche NFTs to -focused DAOs to highlight work from up-and-coming artists. Learn more here.
  • – The pre-release code for the Avalanche is available for deployment on Avalanche's testnet. Cortina will standardize all Avalanche blockchains to consensus, enable integrations with Avalanche Warp Messaging and into existing exchanges, novel transaction types, and more. Learn more here.
  • ' appointed to 's Technical Advisory Board, Ava Labs' CEO, has been appointed to the CFTC's technical advisory board, which aims to inform regulators about the latest developments in . See Gün's announcement here.
  • – TSM, previously known as Team SoloMid, is a major gaming company that is releasing its gaming platform, Blitz, on an . Through Blitz, TSM aims to onboard its existing 30m user base into the Avalanche ecosystem. Learn more here.
  • Wallet Upgrades – The Core wallet team released the iOS app, making Core mobile accessible to 1 billion mobile . Core Mobile is the fastest growing version of Core Wallet. Additionally, the Core web browser extension now offers a “Discover” tab, which is a consolidated place for vetted information on projects, learning materials, and the latest news on Avalanche. Learn more here.
  • Glacier API Beta – The team at Ava Labs released the beta of Glacier API, an API repository for enriched data from Avalanche and Ethereum and the official API service for indexing Avalanche .

The Past Month in (DeFi)

Avalanche continues to grow its DeFi ecosystem with more projects, integrations, and innovations. Here are some of the key metrics and events from March:

  • BTC.b Supply Reaches All Time Highs at ~10k – BTC.b is a wrapped version of that runs on Avalanche. It allows users to transfer Bitcoin to Avalanche and use it in various DeFi applications. In March, the supply of BTC.b reached an all-time high of ~10k, indicating a strong demand for Bitcoin on Avalanche. Learn more here.
  • Pangolin Surpasses $1B in Total Locked () – Pangolin is a community-driven () that runs on Avalanche. It offers fast and low-cost trading of any Avalanche-based asset. In March, Pangolin surpassed $1B in TVL, making it one of the largest in the space. Learn more here.
  • Benqi Finance Raises $6M in Strategic Funding Round – Benqi Finance is a non-custodial liquidity market protocol that enables users to lend, borrow, and earn interest on their crypto assets. Benqi Finance raised $6M in a strategic funding round led by Ascensive Assets and Mechanism Capital, with participation from Dragonfly Capital, Arrington Capital, Spartan Group, and others. Benqi Finance is expected to launch on Avalanche in Q2 2023. Learn more here.
  • Yield Yak Launches Auto-Compounding Vaults – Yield Yak is a yield aggregator that optimizes returns for liquidity providers on Avalanche. Yield Yak launched auto-compounding vaults that automatically reinvest the earned from providing liquidity on Pangolin and other DEXes. This allows users to maximize their compound interest and earn higher yields. Learn more here.
  • Prosper Launches Prediction Markets on Avalanche – Prosper is a cross-chain prediction market platform that allows users to create and participate in prediction markets on various topics. Prosper launched on Avalanche, offering users a fast and low-cost way to bet on the outcomes of events such as cryptocurrency prices, sports results, elections, and more. Learn more here.

The Past Month in Non-Fungible (NFTs)

This was an especially strong month for Avalanche NFTs; the total volume of Avalanche NFTs in March was $1.09m, which is +62.2% from February's mark at $668.9k.

  • Avalaunch – Avalaunch is a platform for launching new projects on Avalanche. Avalaunch announced its first NFT collection called Snowflakes, which consists of 10,000 unique and randomly generated snowflakes with different attributes and rarities. The Snowflakes NFTs will be used as access tokens for participating in Avalaunch sales and events. Learn more here.
  • Avalanche Punks – Avalanche Punks is a collection of 10,000 pixel art characters inspired by the original CryptoPunks project. Each Punk has its own unique traits and personality. The Punks can be traded on the Avalanche Punks marketplace, where users can bid, buy, and sell their Punks using AVAX. Learn more here.
  • Avaxstars – Avaxstars is a collection of 10,000 randomly generated 3D characters that live on the Avalanche blockchain. Each Avaxstar has a unique appearance, name, and backstory. The Avaxstars can be used to play games, access exclusive content, and join a vibrant community of collectors and fans. Learn more here.
  • Avalanche Kitties – Avalanche Kitties is a collection of 10,000 adorable and unique cats that are minted on the Avalanche blockchain. Each Kitty has its own traits, colors, and accessories. The Kitties can be bred to create new Kitties with different combinations of attributes. The Kitties can also be traded on the Avalanche Kitties marketplace, where users can buy and sell their Kitties using AVAX. Learn more here.

The Bottom Line

Avalanche is a fast-growing and innovative smart contracts platform that offers a variety of use cases and for developers, users, and investors. In March 2023, Avalanche made significant progress in expanding its ecosystem, improving its platform, and attracting more attention and adoption from the .

If you want to learn more about Avalanche and stay updated on its latest developments, you can visit its official website , follow its account , join its Telegram group , or read its Medium blog . You can also check out the Avalanche Watch: March Edition for more data and insights on the Avalanche ecosystem.

Thank you for reading this article! We hope you found it informative and useful. If you have any questions or feedback, please feel free to leave a comment below. 😊

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