The return of the bull market has brought significant attention to Layer 1 blockchain Avalanche, often dubbed an "Ethereum killer." Its native token, AVAX, has surged over 300% since the beginning of the year, outperforming most other blockchain tokens. This explosive growth has extended to Avalanche's inscription market, where numerous inscription projects are emerging rapidly.
What happens when the strongest narrative in the crypto space meets one of the hottest blockchain projects? Could this be a life-changing opportunity? Read on to find out.
For those unfamiliar with inscriptions, they are a recent innovation in the crypto world, often compared to digital artifacts or collectibles on the blockchain. They have gained traction due to their potential for fair distribution and community engagement.
Recently, the inscription market has continued to heat up, with various blockchains launching their own inscription products. The community's enthusiasm has put these networks to the test, revealing performance issues such as network congestion, failed transactions, soaring gas fees, and even chain outages. Many blockchains failed to meet their claimed high TPS (transactions per second) under this pressure.
Amid this frenzy, Avalanche has stood out as a noteworthy performer.
Key Avalanche Inscription Projects
The recent completion of avav inscriptions, with 52,367 holding addresses, has marked a high point for Avalanche's inscription ecosystem. According to data from Avascriptions, Avalanche's primary inscription marketplace, avav currently boasts a market cap of $47.67 million, making it the top inscription by market value and trading volume.
Interestingly, the "top" inscription on Avalanche has changed hands multiple times. Initially, aval led the pack, followed by asct. This week, avav emerged as the third-generation leading inscription.
Soaring Gas Fees and Network Revenue
avav has a massive supply of 21 million inscriptions, each containing 69,696,969 tokens. The current floor price is around 0.06 AVAX (approximately $2.3), with early miners seeing returns of 1x to 10x.
Why such varying profits? The answer lies in gas costs. avav mining began on November 25 but gained traction only recently, causing network gas fees to spike. At its peak, gas prices exceeded 2000 nAVAX, with mining costs ranging from $0.1–0.5 initially to $1.2–1.8 during the busiest periods.
While miners profited, the real winner was the Avalanche network itself. Data from DeFiLlama shows that on December 16 alone, Avalanche generated $6.87 million in revenue, largely from gas fees paid by inscription miners. Over the past week, cumulative revenue reached $18.44 million.
This surge in activity has not only provided a price floor for inscriptions but also benefited the blockchain developers through fee generation.
Avalanche's Revival as an "Ethereum Killer"?
In a market currently dominated by Bitcoin ecosystem narratives, Ethereum's underperformance has left many "Ethereum killers" without a clear purpose. Avalanche, however, seems to be carving a new path.
Recently, TraderJoe co-founder cryptofishx launched the ASC-20 inscription BEEG on Avalanche, which was fully minted within hours, attracting over 12,000 holders. cryptofishx explicitly stated that BEEG has no roadmap or utility, framing it as a social experiment.
This move signifies a shift from community-driven projects to more formalized initiatives, potentially setting Avalanche apart from its competitors. While official endorsements are absent, the community speculates that Avalanche may embrace the inscription ecosystem more actively given its substantial revenue and热度.
Year-to-date, AVAX has risen nearly 300%, though it remains below its all-time high from the previous bull market. The chain's future growth may hinge on its ability to innovate within the inscription space.
In the last bull run, Avalanche and other Layer 1s built their reputations as "Ethereum killers." Today, those narratives have grown stale. The recent fee surge and community enthusiasm prompt a reevaluation: Can older chains leverage inscriptions for revival? Is the inscription trend robust enough to support an entire Layer 1 network?
For the community, the hope is that Avalanche and similar chains will pioneer innovative inscription applications, breathing new life into these networks.
👉 Explore real-time inscription data
Frequently Asked Questions
What are blockchain inscriptions?
Inscriptions are digital artifacts or collectibles minted directly on a blockchain. They often involve embedding data into transactions, creating unique tokens without smart contracts.
Why is Avalanche popular for inscriptions?
Avalanche offers high throughput and low latency, making it suitable for minting and trading inscriptions without excessive congestion or fees, though recent activity has tested these limits.
How do I participate in inscription mining?
To mine inscriptions, you need a compatible wallet, funds for gas fees, and access to a minting platform. Always research projects thoroughly to understand risks and costs.
What is the difference between avav and other inscriptions?
avav is currently the largest inscription on Avalanche by market cap and volume. It features a large supply and community-driven demand, unlike some earlier inscriptions.
Are inscriptions a good investment?
Inscriptions are highly speculative and volatile. While some early participants profit, others may incur losses. Always invest cautiously and within your means.
Will Avalanche continue to support inscriptions?
While unofficial, community activity and revenue generation may encourage further development. However, always verify information through official channels.
Disclaimer: This article does not constitute investment advice. Readers should consider their individual circumstances and comply with local laws and regulations.