HongKongDoll, a prominent Crypto AV Key Opinion Leader (KOL), has actively participated in the creation of AVAV inscription tokens.
These tokens operate on the Avalanche (AVAX) blockchain.
The ARC-20 tokens are set to debut their first application: allowing users on Umate to directly reward and access the works of AV idols.
The enthusiasm sparked by HongKongDoll's tweet quickly led her to join the Umate social platform.
Umate subsequently announced its support for users to use AVAV tokens to access videos of AV stars, including HongKongDoll.
The AVAV community sees this as a significant milestone, signifying the first practical application of AVAV tokens.
HongKongDoll, the first AV star to join Umate, was soon followed by the other AV stars.
As of the time of publication, AVAV currently has 50,176 holders, with markets reporting a price of $3.23 per token.
Inscription tokens, which involve embedding text in standard blockchain transactions using an off-chain numbering system, have gained popularity due to their cost-effectiveness compared to native tokens.
Originally developed to address the absence of native token support on the Bitcoin network, they now find utility across various blockchains.
Transaction fees related to inscriptions have surged, reaching up to $5.6 million per day, constituting approximately 70% of all fees spent on inscription activities across different blockchains, as reported by a Dune Analytics dashboard.
Avalanche has witnessed two distinct periods of heightened interest in inscriptions.
The recent increase in fees is attributed to a rise in non-inscription transactions, indicating an overall demand for block space.
Transaction costs have steadily climbed this month, with a observable spike exceeding 5,000 nAVAX, the gas price per unit on the blockchain, recorded on December 18.
In the global ranking of inscription-related transactions, Avalanche holds the third position, processing 61 million transactions.
It follows BNB Chain with 77 million and Polygon PoS with 161 million transactions.
The Dune Analytics dashboard highlights over 1,160 inscription collections hosted by Avalanche, showcasing its growing prominence in the blockchain landscape.
EigenLayer is an Ethereum-based protocol that introduces restaking — a new primitive for cryptoeconomic security that has become a dominant narrative in the Ethereum community.
JinseFinanceEigenLayer AVS provides unlimited possibilities, and there will be more innovations in the future.
JinseFinanceA series of factors including: @eigenlayer's expected airdrop was realized, @RenzoProtocol performed below expectations after its launch, and other Restaking's Fomo sentiment declined, which undoubtedly cooled down the Restaking re-staking track.
JinseFinanceDriven by concepts such as AVS, re-staking, and points systems, a huge ecosystem has gradually formed. From the beginning of 2024 to now, EigenLayer's TVL has increased 12 times
JinseFinanceThe restaking ecosystem has finally reached two important milestones: EigenLayer (and EigenDA) launched on the mainnet, and the first batch of AVS launched on the mainnet: AltLayer, Brevis, eoracle, Lagrange, Witness Chain, and Xterio.
JinseFinanceRecently, using EigenLayer to build infrastructure projects has become very popular in the developer community. These systems can include DA layers, new VMs, oracles, bridges, and more.
JinseFinanceRestaking will be the fastest growing category in 2024.
JinseFinanceBut the Ethereum community, the center of cryptocurrency adoption and innovation, can sometimes appear calmer.
JinseFinanceRecent media reports have raised concerns about Deputy Premier Cheng Wen-tsang from Taiwan, suggesting he may be involved in a deepfake scandal. A circulating video seemingly shows Cheng in a compromising situation with a woman in a hotel room. Cheng strongly denies the video's authenticity, alleging manipulation and editing, and has threatened legal action.
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