Note: The number of active users was measured by only counting the addresses that conducted a transaction.

After a considerable decrease in network activity, Avalanche witnessed an increase in its activity in the second quarter of 2023. However, the 3rd quarter saw a 28% drop with 281k transactions per day on average.

The number of active users, on the other hand, had an upward trajectory in the Q2 and Q3 of 2023 and more than doubled compared to previous quarters. While the number of new users almost halved in Q3 compared to Q2, there still were more new users coming to the network compared to the previous quarters.

Both the number of validators and delegators increased In Q3 of 2023 and continued its quarter-over-quarter uptrend to further increase the security of the network. On the other hand, the staked amount of AVAX for both validators and delegators saw a decrease in the last quarter compared to the previous ones.

The downtrend in DeFi TVL on Avalanche continued in Q3 of 2023 with another 28% decrease, reaching its lowest value since the peak of the last bull market.