Avalanche sees record daily production of BTC.b
It is reported that according to Dune data, on March 2, Avalanche cast about 2011 new BTC. b, the largest number of BTC. b castings in a single day, and the to…
It is reported that according to Dune data, on March 2, Avalanche cast about 2011 new BTC. b, the largest number of BTC. b castings in a single day, and the total supply of BTC. b on that day increased to about 8572. Among them, about 1000 BTC. b have flowed into the ecological lending market BenQi.
About 2011 BTC. b were cast on Avalanche yesterday, nearly half of which went to BenQi
Interpretation of the news:
According to a recent report, Avalanche has broken a record in its daily production of BTC.b. On March 2, the platform reportedly cast about 2011 new BTC.b, which is the largest number of BTC.b castings in a single day. This news is significant because it highlights the growing popularity and usage of Avalanche as a blockchain platform.
The total supply of BTC.b on that day increased to about 8572, indicating the increasing demand and adoption of cryptocurrency. It is worth noting that BTC.b is a tokenized version of Bitcoin that runs on the Avalanche blockchain network. By tokenizing Bitcoin, Avalanche can offer faster transaction speeds and lower fees than the traditional Bitcoin network.
Moreover, the report highlighted that around 1000 BTC.b flowed into the ecological lending market, BenQi. This means that the market is gaining significant momentum and popularity among users. BenQi is a new lending and borrowing protocol that operates on the Avalanche blockchain. It offers significant benefits over traditional finance, such as higher interest rates, lower fees, and more accessible collateral options.
This news shows that there is a growing demand for decentralized finance (DeFi) products on Avalanche. BenQi enables users to earn interest on their cryptocurrency holdings or borrow assets at competitive rates. With a high percentage of the newly minted BTC.b flowing into the platform, it indicates that users are becoming more comfortable with the ecosystem and trust the platform.
In conclusion, this news highlights the increasing popularity and use of Avalanche as a blockchain platform. It also shows the growing interest in DeFi products and the value of tokenizing traditional assets as seen with BTC.b. Furthermore, the report highlights the emergence of BenQi as a popular lending and borrowing protocol on the Avalanche blockchain network. It is exciting to see the developments in this space, and we are sure that more exciting innovations will emerge in the future.
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