Avalanche Daily Fees Surge Ahead of Etna Upgrade

Layer 1 blockchain Avalanche is experiencing a surge in network fees, according to Token Terminal. Its daily trading fees have increased by 5x in the last month, with the daily transaction count also rising.

Avalanche’s fee surge comes just in time for the network’s Etna upgrade, scheduled for December 16.

Etna’s rollout follows the launch of Avalanche9000, another upgrade meant to improve cross-chain interoperability and simplify Layer 1 creation.

“With the launch of Avalanche9000 this week, the Avalanche Foundation is pleased to see the number of projects building L1s on testnet increase to over 700! We encourage all builders to apply for Retro9000, offering up to $40M in retroactive rewards,” said the Avalanche Foundation in an X post after the launch.

However, Avalanche’s fees aren’t the only metric that is increasing. The network is also enjoying healthy trading volume, hitting $650 million in daily volume recently, the highest since March.

The blockchain’s AVAX token has more than doubled in the past 30 days amid the ongoing crypto rally.