Avalanche subnets witnessed strong demand as the number of subnet validators and subnet stake increased sharply over the last few days.
The number of transactions on subnets dropped precipitously on 16 May.retreated sharply following the gains made in mid-April. AVAX experienced one of the steepest losses in value among L1 tokens during the past 30 days, falling more than 27% in total.However, despite the downside, what could possibly pique investors’ interest was the steady growth in development activity.
According to a Web 3 investor and advisor, the amount of AVAX staked on Avalanche’s subnets rose to 120,000, at the time of the tweet, which represented an increase of 33% from the previous day. As a result, the subnet stake’s overall percentage of the total stake increased to 0.188%. Moreover, subnet validators accounted for more than 12% of the total validator count as of 16 May. All these indicators pointed toward the rapidly growing demand for subnets.
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