Transaction Volume For Many L1 Blockchains Surged in November

• Data from DeFiLlama showed that transaction volume for many L1s surged last November.
• Avalanche’s monthly transaction volume rose by the highest value since July 2022.
• The surge in transaction volume also reflected in the prices of the blockchains’ native tokens.

Many Layer-1 blockchains experienced significant growth in transaction volume last November, according to Colin Wu, a renowned crypto journalist. Wu posted the information on X (formerly Twitter), referring to data from DeFiLlama, a platform for crypto data aggregation.

In November, the transaction volume on multiple L1s experienced significant growth. The transaction volume on the Avalanche increased by 167% MOM to $2.73 billion, the highest since July last year; the transaction volume of Osmosis increased by 113% MOM to $490 million; in…

— Wu Blockchain (@WuBlockchain) December 2, 2023

According to Wu, the transaction volume on Avalanche, an Ethereum rival known for speed and scalability, rose to $2.73 billion in November, representing a 167% increase. That marked the highest monthly increase for the Layer-1 blockchain since July 2022.

Wu also noted that the transaction volume on Osmosis, th…

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