What Is Avalanche?

Avalanche is a platform for creating custom blockchain networks and decentralized applications (dApps). Created by Ava Labs, the Avalanche crypto platform is one of many projects seeking to unseat Ethereum as the blockchain ecosystem's most widely utilized smart contract platform.

Avalanche claims to achieve greater scalability than Ethereum via a high transaction throughput of 4,500 transactions per second (TPS). Avalanche’s native AVAX coin, which has a capped supply of 720 million, is used not only as part of the Avalanche consensus mechanism but also for paying network transaction fees.

Avalanche has sought to compete with Ethereum by developing its own decentralized finance (DeFi) ecosystem and a variety of Ethereum-based DeFi projects have integrated with its platform — including bZx, SushiSwap, Reef, Securitize, and TrueUSD. Additionally, Avalanche is developing a bridge to the Ethereum network, which will allow users to seamlessly transfer assets between the two chains.

What is BTC b on avax?

BTC. b on Avalanche is a token representing BTC on Avalanche that was bridged from the Bitcoin (". b") blockchain via the Avalanche Bridge. For example, when sending BTC over the bridge to the Avalanche Network, it will appear as BTC.

analysis

AVAX and Bitcoin move in similar price terms and this shows the price correlation between these two assets

The median BTCB balance per holder is higher than the mean, indicating that the skewness is negative.

Deposit vs Withdraw Total Amount (BTC) with transactions:

TOP 2023/02/01 Deposit :1/03K Withdraw: 955 TX:194 2023/02/08 Deposit: 906 Withdraw:968 TX:121

DOWN 2023/01/01 Deposit: 0.147 Withdraw: 11 TX:11

Daily Number of TransactionAvalanche price :

TOP 2022/12/14 TRANSFER:184K PRICE:15.2

DOWN 2022/12/25 TRANSFER:91/7K PRICE:12.59

According to the price of AVAX and Bitcoin, it can be seen that the increase in the price of AVAX was mostly due to the increase in the volume and number of new users who transferred their Bitcoin to Avalanche. According to the Donut Classification of users based on balance chart, these users who have transferred a large volume can be seen by users who had a large amount of bitcoins, so they were not the majority of users and this transfer was made by whales.

The relationship between transfer and price shows that the more the volume of transfer has increased, the more days the exchange has passed, the price of AVAX has increased.

At the same time as the price of AVAX increased, the number and volume of transfers in BTC on the Avalanche network increased, so that the price of AVAX increased from $9.65 on 12/29/2022 with a volume of 1.15 thousand bitcoins to $23.63 on February 2023. 03/03 has arrived with a volume of 2.4 thousand bitcoins

Classification of users based on balance

TOP 0 BTC.b left 13495 USERS BTC_BALANCE:0

DOWN Between 100 - 1000 BTC.b 2 USERS BTC_BALANCE:957 1,000+ BTC.b 2 USERS BTC_BALANCE:4862