The Avalanche blockchain demonstrates robust decentralized exchange (DEX) activity with 12,562 unique swappers executing 73,556 total swaps, averaging $2,029.71 per user. Arena token dominates trading with its WAVAX pair generating $12.7M across 33-39k swaps. However, the network shows signs of potential market cooldown, with weekly swappers declining 35% and token swap volumes dropping from 8,974 to 861 swaps. Despite this, staking remains strong, with 8,100 addresses staking and 74% of total stake volume coming from new participants in the last 90 days, indicating ongoing network engagement and growth potential.