Analysis

Based on the facts provided, it can be concluded that there has been a significant inflow of BTC.b onto the Avalanche network. This is evident from the fact that there are 9,000 BTC.b that have been bridged from Bitcoin to Avalanche. The inflow of BTC.b onto Avalanche started to ramp up at the beginning of 2023 and has been steady with most days experiencing between 2,000 and 6,000 in/out flows of Bitcoin between Avalanche and the Bitcoin blockchain. In terms of transfer activity, the amount of BTC.b transferred on Avalanche has been increasing steadily. Currently, there are 400 to 600 transfers per day, with a daily volume of transfers ranging from 1,500 to 5,000 times a day and a total of 50 million to 200 million in volume. In terms of swap activity on the Trader Joe dex, there has been $629 million worth of trades from 8,900 wallets. This swap volume has been steadily increasing and spiked at the beginning of February 2022, with most days experiencing between $5 million and $15 million in swap volumes. These facts demonstrate that there is a growing interest in BTC.b on the Avalanche network, as evidenced by the steady inflow of the token and the increasing transfer and swap activity. Additionally, the steady increase in transfer activity and swap volume suggests that users are actively using BTC.b on Avalanche for various purposes, such as transferring and exchanging assets. This supports the question posed in the introduction regarding the usage of contracts and protocols and the swapping of assets on Avalanche. Overall, the analysis of the facts provided in this dashboard supports the conclusion that there is a growing interest in and usage of BTC.b on the Avalanche network.

Avalanche BTC.b Bridgooors