The liquidity collateralized derivative token xALGO has been launched on Avalanche. xALGO is the yield version of ALGO, which can accumulate value from Algorand governance rewards. With the collection of governance interest, its design goal is to continuously increase in value as the price of ALGO rises. xALGO will be launched on BNB Chain in May 2023, and Avalanche is the second blockchain to support this token.

The Avalanche Foundation plans to purchase a collection of meme coins under its "Culture Catalyst" program to broaden its portfolio. The selection process for the meme coin collection will be based on criteria such as the number of holders, liquidity thresholds, and overall social sentiment. The Foundation believes that meme coins represent the collective spirit and shared interests of diverse crypto communities. However, some experts warn that meme coins have nothing to support their price once the hype dies out and are not a sound investment.

Data from IntoTheBlock shows that nearly 80% of AVAX holders are in a profitable state, which is the first time since the bull market in 2021.

According to data from Avascriptions, the inscription token avav on the Avalanche blockchain has traded over 500,027.41 AVAX since it began trading, becoming the highest trading inscription token on the Avalanche blockchain.

Golden Finance reported that Upbit, a South Korean cryptocurrency exchange platform, announced that due to changes in the Avalanche (AVAX) network fees, the withdrawal fee has been adjusted from 0.01 AVAX to 0.1 AVAX.

Avalanche users destroyed 439,000 AVAX tokens worth approximately $16.7 million during transactions in the past week, reducing the token's circulating supply and bringing the weekly amount of destroyed AVAX to its highest level yet. On the Avalanche network, all transaction fees are destroyed. The fees are based on the EIP-1559 design, which introduces a burning element to Ethereum's transaction fees. The difference is that Ethereum pays some of the transaction fees to validators and burns the rest, while Avalanche completely destroys them.

According to Avascriptions market data on December 17th, the first inscription token on the Avalanche chain, AVAS, had a 24-hour trading volume exceeding 25,000 AVAX, ranking it among the top three on the avascriptions.com trading platform. It is reported that AVAS is the first ASC20 protocol token deployed on the Avalanche chain, created on June 29th, 2023.

According to Avascriptions data, the inscription token avav on the Avalanche chain has been fully minted, with a total quantity of about 14.63 trillion and a holder count of 52,367.

Avalanche ecosystem wallet Core has introduced a groundbreaking wallet creation method that allows users to generate wallets and multi-chain seed phrases using their Gmail account without compromising security or custody. This innovation allows Core users to bypass traditional seed phrases and utilize familiar Web2 methods such as Gmail and Apple login to generate and manage keys.

The NodeKit development team based on Avalanche's SEQ announced the completion of a $1.2 million Pre-Seed round of financing, led by Borderless Capital, with participation from Avalanche Blizzard Fund, Polygon Ventures, and Wormhole Cross-Chain Ecosystem Fund.It is reported that SEQ is a shared sorter Layer1 network that will help Rollup chains launch and decentralize their transaction sorting. SEQ will operate as an independent blockchain or subnet within the Avalanche ecosystem.

According to OKX market data, AVAX rose above $42, currently priced at $42.18, with a 24-hour increase of 20.1%.

According to DeepChain, IntoTheBlock monitoring shows that the number of large $AVAX transactions is on the rise, reaching a peak last week with nearly 1000 transactions exceeding $100,000.IntoTheBlock stated that although this is still not close to the levels seen in the last bull market, it is a positive signal for the bulls.

According to Scopescan monitoring, 7 hours ago, Fasanara Capital withdrew 82,000 AVAX (3.02 million USD) from Binance. The price of AVAX has risen by 58% in the past 7 days.

According to OKX market data on December 9th, AVAX has risen above $30 and is currently priced at $31.4, with a 24-hour increase of 20.4%.

Market data shows that in the past two weeks, Avalanche (AVAX) has surpassed Bitcoin Cash (BCH), Polygon (MATIC), Polkadot (DOT), Tron (TRX), and Chainlink (LINK) to become the 10th largest cryptocurrency by market capitalization. AVAX currently has a market capitalization of 9.8 billion US dollars.

Web3 social protocol Inspect has announced its support for the Avalanche ecosystem. Inspect has introduced a new dedicated collection ranking system for Avax NFTs, and its web application now provides a detailed view of the Avax-based NFT community. Inspect is prepared to continue expanding its partnerships and further exploring the depth of its dynamic ecosystem.

According to a report from blockchain analysis company IntoTheBlock, the transaction volume on the Avalanche blockchain increased in November. During the week of November 13, 2023, the transaction volume reached a new annual high of $2 billion. During this period, the block confirmation time remained stable at about one second. In addition, gas prices remained around 80 AVAX and the average cost per transaction was $0.05.

According to data from The Block dashboard, the number of transactions on alternative Ethereum Virtual Machine (EVM) chains, including Fantom, Avalanche, Celo, Polygon, and BNB Chain, has surged since mid-November. Fantom saw the highest increase, reaching 1,321%, with transaction volume growing from 239,920 on November 17 to 3.41 million on November 26. Celo grew by 1,277% in just four days, with transaction volume increasing from 277,500 on November 22 to 3.82 million on November 26. Polygon saw a 155% increase in transaction volume from November 14 to November 26, while Avalanche's transaction volume grew from 321,900 on November 18 to 3.08 million on November 26, an increase of 857%.

Avalanche's ecosystem DEX Trader Joe released a tweet stating that Epoch 17 will end on December 1st. There is still plenty of time to provide liquidity, earn fees, and get ranked on the leaderboard to unlock rewards such as $ARB.

Avalanche Web Wallet will gradually be discontinued on November 30th. Users can now perform staking operations through Core Stake. Users simply need to connect through the Core extension or use a Ledger hardware wallet, and access their account with the new UI.