The craze for NFTs on the public blockchain Avalanche continues to cause network congestion. Today, the official AVAX wallet experienced a major outage, and Binance’s AVAX wallet showed a suspension of deposits and withdrawals, leading to community anger. As one of the hottest NFTs on Avalanche, DINO has reached a forging progress of 74.19%.
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With the continuous popularity of Bitcoin NFTs, major public blockchains have ignited a frenzy of NFTs, and Avalanche is no exception. Due to the surge in NFT transactions, the Avalanche network has experienced congestion, and the AVAX official wallet frontend has crashed, displaying a message saying “Connecting to a new network, please wait.”
Avalanche is currently still producing blocks normally, but the AVAX C-Chain on Binance temporarily suspended deposits and withdrawals, indicating that the network may have been overwhelmed by a large number of users. Some users have complained that the AVAX wallet on Binance has been under maintenance for over 6 hours but withdrawals are still not possible.
Binance customer service responded by stating, “All Binance currency wallets will undergo maintenance from time to time. This is a normal phenomenon to ensure the smooth operation of our platform and avoid issues. Please refer to the page prompts for specific wallet maintenance information. You can also set reminders on the withdrawal page so that once wallet maintenance is completed, you will be notified as soon as possible.”
According to avascriptions data, avav, dino, asct, and others have become the market hotspots in the past 24 hours. Avav has traded 144,000 Avax in the past 24 hours, becoming the leading NFT on Avalanche. Dino ranks second with a trading volume of 113,000 Avax in the past 24 hours, and Asct ranks third with a trading volume of 25,000 Avax in the past 24 hours.
As one of the hottest NFTs on Avalanche, DINO’s forging is currently in progress. DINO has a total supply of 21 million tokens, and the forging progress has reached 74.19%. There are currently 37,476 holding addresses, and it is expected that the number of holding addresses will surpass avav, which is currently in first place, after the forging is completed.
Community Reaction
Some members of the Avalanche community have complained that most platforms have suspended network deposits and withdrawals. One community member pointed out that they just wanted to buy some AVAX meme coins but couldn’t send AVAX to their wallet. Subsequently, many community members reported similar situations, and some complained about the skyrocketing gas fees causing network congestion.
Avascan data shows that the average gas fee on the Avalanche network is currently 1,961.81 nAVAX (approximately $1.7).
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Avalanche
DINO
NFT
Avalanche Protocol