Key Points:

• The gas fees for the Avalanche network reached 5,110.30 nAVAX, or $4.41, which caused congestion and discussions about how to fix it.
• Merchant Joe organizer starts a social investigation with the ASC-20 standard engraving BEEG.
• Torrential slide accomplished exceptional development in December, coming to $45.3 for AVAX.
• The average Avalanche Network gas fee rose to 5,110.30 nAVAX (approximately $4.41) on December 18, according to Avascan data.

Avalanche Network Gas Fees Soar and Social Experiment Unleashes Inscription Frenzy

At the same time, Torrential slide C-Chain Gas used more than $20 million in the previous week, with engraving movement adding to 72.3% of Torrential slide Organization gas utilization and 86.5% of exchanges on the C-Chain.

Merchant Joe pioneer @cryptofishx, recently unveiled the ASC-20 standard engraving known as BEEG via online entertainment, underscoring its absence of a guide or pragmatic use case and marking it as a social investigation.

Eminently, 37% of BEEG was stamped in no less than 2 hours and 15 minutes of delivery, flaunting around 4300 holders. @cryptofishx issued an apology and is actively looking for solutions, acknowledging network congestion.

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The Avalanche maintained their momentum throughout the month, breaking previous records. The stage saw a surprising flood, drawing in huge number of new clients and financial backers, impelling AVAX to reach $45.3, another high since May 2022.

Avalanche faced difficulties because its rapid growth put a strain on the network, despite the impressive growth. An unprecedented amount of traffic was generated as a result of the massive increase in AVAX token value, which has increased by more than 400% in the past two months.

In the domain of decentralized finance (DeFi), Torrential slide’s complete worth locked (TVL) multiplied in the beyond two months, drove by significant stages like Benqi, Broker Joe, Aave, and GMX. The biological system’s prosperity, notwithstanding, highlights the need for scaling answers for oblige the expanding request on the Torrential slide organization.