Conclusion

According to the Metrics :

AVAX has really almost mirrored the price of BTC since Jan 2023 as per the price chart Despite of Bitcoin Dominance

Moreover we can see huge amount of BTC has bridged on February and also new btc.b holders visible over time which show more trust of community to the avalanche and using DeFi

Another reason for rise in price of AVAX could be that the BTC being bridged is being swapped to AVAX

Also by comparing 2022 vs 2023 we could see on the last quarter of 2022 the swap metrics decreased signficantly but on 2023 this factors recovered very well which show more user interaction in new year

The growth in the amount of BTC being bridged to the platform, combined with the increase in the number of BTC holders on the platform, is a positive sign for the future of decentralized finance

the data suggests that the majority of users are bridging BTC to Avalanche for the purpose of using DeFi services, with the top three DeFi platforms holding the majority of the bridged BTC which the top three DeFi platforms on the platform holding approximately 87% of all the BTC.b bridged to the platform

In overall we should notice that just %2 of Addresses hold more than 0.1 BTC.b which show most addresses are normal user and can be a good factor for health of ecosystem in the future

Hope you Enjoyed 🖤

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Dashboard	Creator	Published
Chain Swaps Apr 25, 2023	zhizhi1348-BdTpUh	Apr 25, 2023
Avalanche Gas Fees Mar 26, 2023	zhizhi1348-BdTpUh	Mar 26, 2023
Up The Mountain Feb 16, 2023	zhizhi1348-BdTpUh	Feb 16, 2023

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