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.

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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
Really Remote Working Part 2
The second imagined space in the series. Created during the lockdown period whilst being confined to the same place every day, this piece is part of a series of imaginary places that I dreamed of being able to work from.
SolPunk_#667
SolPunk_#667
#88779
By OthersideDeployer
Fuku-Shiva
The term “Fuku” refers to fortune or good luck. “Shiva” refers to the Hindu deity who represents strongly polar qualities, both severe and delicate. On a beach inspired by adventures on Phi Phi island in Thailand, three youths cavort. Two are representational figures and the third is psychologically rendered. A dynamic relationship ensues between the triad; a reciprocity of active and passive states. The boy on the right engages in maneuvers of evasion, defense, and is dressed in a speedo which reiterates the colors and symbolism of the caution tape on the left and upper right frame of the composition. In concurrent reaction the psychedelic figure shoots out a rocket powered paper airplane. The nude boy seated in the froth and sand approaches in passive repose, and is met with active attention but equal physical reserve by the psychedelic being. Perhaps the most naked figure is also the least representational. Looming large, dynamic, and active, it engages its companions playfully. Various symbols interject into the otherwise naturalistic scene, most notably a beach ball and two contaminated barrels nested in the sand. The upright barrel reads “FukuShima” in Kanji. The barrel laying down reads “Dharma”. To the left the scene is bounded by caution tape, reiterating the danger of the nuclear waste while also hosting alien archetypes, whose presence, as is the nature of these entities, runs up and just behind the consciousness of the psychedelic figure’s eggshell-like skull.
Originalplan® - Series 1 - Raw Cut Diamond Be@rbrick
The Be@rbrick series is a project around creating unique Be@rbrick designs. Originally it started as a daily project so each design was created on a daily basis. The concept and idea is based on the subcultural phenomenon of collectibles and designer toys. Raw Cut Be@rbrick is made of several hundreds of diamonds and is only availabe as a 1/1 limited edition collectible. Format : 3D Render. File: JPG * size: 5120 × 2880px After purchase a hand signed Glichē print will be sent to the address of your choosing. Limited to: 1/1 digital pieces.