Update Aug. 29, 1:07 p.m. UTC: This article has been updated to include comments from Ava Labs’ chief strategy officer.
Avalanche’s transaction growth surpassed all other blockchain networks this week, signaling more investor mindshare rotating to the smart-contract blockchain’s utility token, as it also saw increasing governmental adoption.
Avalanche, a smart contract blockchain designed to improve scalability and usability, has emerged as one of the fastest–growing blockchain networks.
Transactions on Avalanche rose over 66% during the past week, surpassing 11.9 million transactions across over 181,300 active addresses, wrote crypto intelligence platform Nansen, in a Friday X post.
The increased transactions may signal more incoming investor interest in the Avalanche (AVAX) token, catalyzed by Avalanche’s latest governmental implementation and renewed exchange-traded fund (ETF) filings around the altcoin.
On Thursday, the US Department of Commerce announced that it will begin posting real gross domestic product (GDP) data on decentralized blockchains, including Avalanche.
Starting with the data from July 2025, the GDP reports will be published on nine public blockchain networks, including Bitcoin, Ethereum, Avalanche, Solana, Tron, Stella, Arbitrum One, Polygon PoS and Optimism, wrote the Department in a Thursday announcement, adding:
The Department of Commerce called it a “landmark effort” that may “demonstrate the wide utility of blockchain technology” and serve as a “proof-of-concept for all of government,” to build on the US President Donald Trump administration’s vision of making the US the “blockchain capital of the world.”
Related: Ethereum exit queue hits record $5B ETH, raising sell pressure concerns
An excerpt from the title page of the S-1 for Grayscale Avalanche Trust (AVAX). Source: SECThe rising activity may be more related to organic growth in Avalanche’s layer-1 (L1) blockchains and other rising decentralized finance (DeFi) activities, according to Luigi D’Onorio DeMeo, chief strategy officer at Ava Labs, the company behind the development of Avalanche.
“It’s related to the growth of additional Avalanche L1s growing + new growth in terms of transactions on the Avalanche C-Chain related to payments growth of stablecoins and DeFi,” DeMeo told Cointelegraph.
Other potential developments catalyzing investor interest include crypto investment firm Grayscale’s updated S-1 filing for a spot Avalanche exchange-traded fund, which was submitted to the US Securities and Exchange Commission on Friday, Cointelegraph reported.
Transactions on second-place Starknet increased by 37%, while the Viction network emerged in third with an expansion of over 35%.
The Base network was sixth in terms of growth, but ranked first in terms of transaction count, with over 64 million transactions over the past week, Nansen data showed.
Related: Kanye West’s YZY token: 51,000 traders lost $74M, while 11 netted $1M
Blockchain could make America’s economic data immutable
Publishing economic data on the blockchain will make these reports “immutable,” wrote US Secretary of Commerce Howard Lutnick, adding:
“It’s only fitting that the Commerce Department and President Donald Trump, the Crypto-President, publicly release economic statistical data on the blockchain,” added Lutnick after the historic announcement.
US GDP hash on nine public blockchains. Source: commerce.govMagazine: Altcoin season 2025 is almost here… but the rules have changed
Source: https://cointelegraph.com/news/avalanche-transaction-growth-gdp-data-etf?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
