- The DeFi space was one of the main areas of growth as per Avalanche Labs.
- AVAX’s NFT volume has also increased in the last month.
Avalanche Labs tweeted on September 27th about its latest collaboration with Chainlink [LINK]. Chainlink, according to the post, aided AVAX’s growth in the NFT, GameFI, and DeFi sectors. Avalanche labs claimed that the Avalanche network grew dramatically as a result of the integrations of Chainlink’s price feed, VRF, and Keepers into their mainnet. Furthermore, the blockchain secured approximately $550 million in value.
#Avalanche has seen tremendous momentum since @chainlink Price Feeds, Keepers and VRF launched on mainnet.— Avalanche 🔺 (@avalancheavax) September 26, 2022
Explore how 10M+ data points, smart contract automation, and verifiable randomness have helped secure $550M+ in value 🧵⬇️ pic.twitter.com/2A5PzdKGcA
Growth Of DeFi Space
According to Avalanche Labs, one of the main areas of growth was the DeFi space. The Avalanche team could improve their DeFI growth in terms of liquid staking and DEXs with the help of Chainlink’s price feed. In addition, projects like Aave, BenqiFinance, and Trader Joe used the Chainlink systems to improve the Avalanche protocol. This development, however, had little effect on their TVL.
AAVE’s TVL had remained flat throughout September, standing at $1.1 billion. AVAX has performed well in the NFT space. Chainlink’s VRF tools had been used by the NFT community to help them grow. AVAX’s NFT volume has also increased in the last month.
Furthermore, on September 24, NFT sales volume peaked at $1.62 million, the highest level of the month. As a result, it is safe to say that Chainlink played a significant role in increasing AVAX volume. On September 24, NFT sales volume peaked at $1.62 million, the highest level of the month. As a result, it is safe to say that Chainlink played a significant role in increasing AVAX volume.
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