12/08/2022 Avalanche Jumps Nearly 15% Amid Surging NFT Volumes

Popular Ethereum competitor Avalanche has gained double-digits as NFTs on the network gain traction.


Avalanche (AVAX). Image: Shutterstock
Avalanche (AVAX). Image: Shutterstock

Avalanche(AVAX) is leading the gains among the top-20 largest cryptocurrencies by market capitalization.

AVAX, the coin powering the layer-1 blockchain, gained 14.18% and has seen a 23% uptick in trading volume over the past 24 hours.

The coin currently trades at around $29.3, according to data fromCoinMarketCap. Despite its 25% jump over the past seven days, the coin is still down 80.55% from its all-time high of $146.22 in November 2021.

The total value locked (TVL), a metric that shows on-chain DeFi activity, has also gained 1.74% over the past 24 hours, according to data fromDefiLlama. As of today, Avalanche has a TVL of $2.42 billion.

Today’s bullish also action crushed short traders. AVAX short trades worth $1.98 million were liquidated over the past 24 hours, according to data fromCoinglass. Long transactions worth $363.8K were also liquidated over the same period.

Growing NFT Demand on Avalanche

One of the key reasons behind today’s bullish price action appears to be the hefty growth of Avalanche-based NFTs.

Trading volumes have increased by 30.90% over the past 24 hours, according to data fromCryptoSlam. The total number of sales has also increased 12%, rising from 125 to 140 over the same period.

Leading Avalanche NFT collectionNavy Seal Gametrading volume jumped 62.7% over the past 24 hours, suggests data fromCryptoSlam. Other NFT collections, includingAvapepesandPizza Game Chefs,have also posted tremendous gains in trading volume over the same period.

Apart from Avalanche, leading cryptocurrenciesBitcoin(BTC) andEthereum(ETH) have also posted gains over the past 24 hours.

BTC has gained 5% over the past 24 hours and changes hands at around $24,129, according to data fromCoinMarketCap.

ETH is also up 5.3% and trades around $1,772 over the past 24 hours, suggests data fromCoinMarketCap.

Arts

https://decrypt.co/106941/avalanche-jumps-nearly-15-amid-surging-nft-volumes

Interesting NFTs
David vs the Virus
"An ode to the year everything changed" - Frank Wilder The story of the underdog is a reoccurring theme throughout history, and perhaps the most famous example is that of David vs Goliath. A tale about perseverance, in which David takes on and defeats the giant warrior using only his smarts and a stone. Famously depicted by Michelangelo's David statue. Fast forward to the present day in 2020 and we as humanity are faced with our own Goliath. An uncontrollable pandemic spread around the globe. Now with the entire planet being affected by this we understand the gravity of the situation at hand, whether it be a virus we’re fighting or other forces at play, there is indeed an energy out to shift the balance of the Universe
 Regardless of our differences, in this moment must unite as one. With diligence, trust and belief we as a whole can come together to triumph against "the enemy". Stay vigilant my friends. Original score created by the one and only Phoenix Wilder.
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Uh, hi! æ—ć…‹ here. I'm here to enjoy riding unicorns and spinning sick beats. I'm often described as gullible, and I own it. Can you make my hairy dreams come true?
Tametomo and the inhabitants of Onoshima Island
Katsushika Hokusai (1760-1849) Tametomo and the inhabitants of Onoshima Island 1811 - Japan
Hell Riders
A still image NFT. Exclusive to makersplace. February 2020.
Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great JosĂ© Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?