DeFi Adoption: Dexalot Subnet Receives Avalanche Multiverse Incentives of up to $3M

The Avalanche Foundation is providing up to $3 million in AVAX tokens to Dexalot, the central limit order book (CLOB) decentralized exchange (DEX) built “on an Avalanche Subnet.” The incentives come from Avalanche Multiverse, “a comprehensive program nurturing Avalanche Subnet growth and adoption.

Timeline of Avalanche

Avalanche (AVAX) — among the leading layer-1 blockchains for DeFi and Web3 — could suffer a significant negative impact in price on August 26, as 9.54 million AVAX ($101.14 million, at press time prices) of new tokens will be put into circulation on this day.

Following the remarkable recovery in early 2023, the AVAX price action enters a crushing correction phase. Experiencing extensive selling pressure at $21, the AVAX prices fail to find support at any crucial level for long. Bouncing back from $11 in June lit lamps of hope for Avalanche, leading to a 32% gain to reach $15.

The world of cryptocurrency is on the brink of a revolutionary transformation as Inspect, a pioneering force in the Web3 domain, and Avalanche, a dynamic smart contracts platform, join forces to pioneer multichain innovation. This strategic partnership, announced by the two companies, heralds a new chapter in the evolution of

AVAX staking will reportedly be among the services offered through AvaCloud. In other words, Avalache just unlocked a new corridor that will facilitate AVAX demand for staking which may encourage a long-term bias.

Avalanche (AVAX) has found itself ensnared within a critical price zone, grappling with a lackluster trading volume that has hindered its price action. The coin's journey has been fraught with challenges as market sentiment takes a bearish stance, casting shadows over its potential upward trajectory.

Ethereum (ETH) competitor Avalance (AVAX) witnessed an uptick in on-chain activity in the second quarter of 2023, according to the crypto data firm Nansen. Avalanche's C-Chain, the project's default smart contract blockchain, saw between 200,000-550,000 daily transactions throughout the second quarter.

In this report we offer an overview on the dynamic space of tokenizing ‘real-world' valuables (or off-chain assets, ‘OCAs'), exploring advantages and obstacles, while delving into innovative projects and protocols in this field.

Although Avalanche saw a significant surge on the social front, its price told a different story. Additionally, a decline in the daily transactions and active addresses added to the misery of troubled AVAX investors.

Shibburn wallet tracker has reported that since last morning a better than nothing progress in SHIB burns has been achieved as the burn rate of this popular meme coin has gone up by a couple of hundred percent.

Competition among blockchains to grab some of the RWA market, new lending pool from Credix that supports Colombian farmer, the first-ever tokenization under Spain's new laws, how the U.K's regulations may lead to the country becoming a tokenization hub, and more for the week ending July 27, 2023.