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%.