Historical snapshot: November 9, 2026, at 21:24 UTC+8.
Avalanche’s network activity and DeFi metrics painted a mixed picture in a November 9 report from BlockBeats: weekly transaction counts and total value locked rose, while decentralized exchange volume and on-chain fees declined.
Infrastructure announcement and price reaction
Citing an official announcement, BlockBeats reported that Avalanche would become the core ledger technology provider for the clearing operations of a tokenized securities platform affiliated with the New York Stock Exchange. Avalanche would supply the underlying ledger infrastructure to the clearing institution behind that platform.
Following the announcement, AVAX briefly rose 6.4% and was quoted at $8.52 at the time of the report. That short-term price move was distinct from the mixed conditions in the network’s weekly data.
More transactions, but lower DEX volume and fees
For the seven days covered by the report, Avalanche C-Chain recorded:
| Metric | Reported reading | Change from the previous week |
|---|---|---|
| Transactions | Approximately 2.3 million | Up approximately 13% |
| Average daily transactions | Approximately 329,000 | — |
| DEX trading volume | Approximately $471 million | Down approximately 18% |
| On-chain fees | Approximately $1.5 million | Down approximately 34% |
The increase in transaction count did not coincide with stronger DEX trading volume or higher fee generation. Those measures therefore offered different readings of network activity rather than a uniformly stronger picture.
TVL rose while stablecoin supply remained below earlier levels
Avalanche’s DeFi total value locked stood at approximately $608 million, up about 14% over the preceding week. BlockBeats attributed the increase mainly to funds growing in protocols including Aave V4.
Meanwhile, on-chain stablecoin supply was approximately $1.32 billion, still below earlier levels. The rise in TVL therefore did not establish a broad-based recovery across the reported liquidity measures.
Still far below historical peaks
The report placed the weekly improvement in a longer-term context:
- DeFi TVL: Approximately $608 million, versus a peak of about $11.5 billion in December 2021—roughly 5% of that high.
- Stablecoin supply: Approximately $1.32 billion, versus about $4.7 billion in March 2022—roughly 28% of that level.
- Seven-day DEX volume: Approximately $471 million, versus a historical high of about $6.7 billion—roughly 7% of the peak.
- Seven-day C-Chain transactions: Approximately 2.3 million, compared with about 41.8 million at the December 2023 peak.
Taken together, the snapshot showed improving transaction counts and TVL alongside weaker weekly trading volume and fees. The infrastructure announcement and short-term AVAX rise did not, on their own, demonstrate a broader recovery in on-chain demand.
Original article: BlockBeats — published November 9, 2026, at 21:24 UTC+8.