Avalanche (AVAX) Statistics: Staking and ETFs

Avalanche statistics for 2026 show growing institutional adoption alongside a falling token price and shrinking retail activity. AVAX, used to pay network fees and stake on Avalanche, traded at $7.97 with a market value of $3.55 billion on 9 Nov 2026. That puts it about 95% below its November 2021 high of $144.96.

Meanwhile, tokenised real-world assets on the C-Chain reached $1.22 billion. Charles Schwab and Janus Henderson moved closer to the network, as did Intercontinental Exchange (ICE). C-Chain daily active addresses fell from about 621,000 in the second quarter of 2026 to about 144,000 in the third.

Avalanche statistics at a glance

The table lists the latest dated figure and source for each core Avalanche metric.

Our crypto prices dashboard tracks live prices and 24 hour changes for AVAX and the 100 largest coins.

Why Avalanche figures differ between trackers

Trackers can report figures that differ by a factor of two or more for the same Avalanche metric. Each counts a different set of chains, tokens or addresses. Compare figures only when their chain coverage, dates and definitions match.

• Stablecoins: Blockworks counted $2.56 billion of stablecoin supply across 26 stablecoins on the C-Chain at 30 Sep 2026. DefiLlama showed $1.18 billion on 9 Nov 2026, while RWA.xyz showed $795.49 million on 8 Nov 2026.
• Fully diluted value: This multiplies the price by a larger supply figure than market cap uses. CoinGecko uses the 470.8 million AVAX total supply and shows $3.75 billion. CoinMarketCap uses a 715.74 million maximum supply and shows $5.71 billion.
• Active addresses: Including Avalanche L1s produces much larger counts than measuring the C-Chain alone. In the fourth quarter of 2025, the C-Chain averaged 319,010 daily active addresses, against 24.7 million across the C-Chain and all L1s.
• Tokenised assets: Blockworks covers only the C-Chain. RWA.xyz counts every Avalanche chain and showed $1.43 billion of distributed real-world assets on 8 Nov 2026.

AVAX price and market cap statistics

AVAX has lost about a third of its value in 2026 and about 95% since its 2021 peak, despite large financial firms adding Avalanche to their plans. On 9 Nov 2026, its market cap stood at $3.55 billion, the 27th largest of any crypto asset. Market cap is the token price multiplied by circulating supply.

Blockworks' State of Avalanche Q4 2025 report supplies the 2025 figures and records a 59.0% price fall in that year's fourth quarter. The all-time high and current price come from CoinGecko. We calculated the percentage changes.

AVAX supply and inflation statistics

New AVAX enters circulation faster than fees remove it, gradually diluting holders who do not stake. Blockworks put annualised inflation at 3.0% at the end of 2025.

Of the 720 million AVAX maximum supply, 360 million was created at launch. The other half is reserved for staking rewards, released over time.

By the end of 2025, 91.0% of the launch supply had already been released for trading. Token unlocks therefore add little to supply now. These are scheduled releases of tokens that early backers and the team were previously unable to sell. Our token unlock calendar lists upcoming releases for every major token.

Circulating supply was 445.8 million AVAX and total supply 470.8 million on 9 Nov 2026.

How much AVAX is burned

Avalanche destroys, or burns, every network fee. This includes both the base fee and the priority fee on the C-Chain, along with fees paid by Avalanche L1s to the Primary Network.

During the third quarter of 2026, stakers received about 2.62 million AVAX (about $19.1 million) in rewards, while the network burned 59,126 AVAX (about $501,000) of C-Chain fees. That burn offset about 2.3% of rewards. Net issuance, the difference between new and burned AVAX, was about 2.56 million.

The report recorded 5.27 million AVAX in rewards for the second quarter. A large group of stakes ended in May, and rewards are paid when each staking period closes.

Fees rose after September's Helicon upgrade. Network fees reached 61,583 AVAX (about $519,000) in the third quarter, up 44%, and all of the increase came in the nine days after activation. From 27 to 30 Sep, base fees averaged about 620 AVAX a day, compared with about 40 a day earlier in the quarter.

AVAX staking and validator statistics

About 42% of all AVAX is tied up in staking across a shrinking validator set. Holders lock AVAX to help confirm transactions and receive newly issued AVAX in return.

A validator is a computer that checks and confirms transactions on the Primary Network, which runs the C-Chain and the chain that manages staking. Delegators assign their tokens to a validator and share its rewards.

About 198 million AVAX was staked across 594 validators at the end of September 2026, roughly 42% of total supply. This was down from about 208 million at the end of June. The average stake was about 333,000 AVAX per validator. At the 9 Nov 2026 price, the total stake was worth about $1.58 billion (our calculation).

The 2025 figures come from Blockworks' Q3 2025 report, which was commissioned by Ava Labs, and its Q4 2025 report. Between mid-2025 and September 2026, validator numbers fell 58.6%, compared with a roughly 11% decline in total stake.

Under Avalanche's staking rules, validators need at least 2,000 AVAX and delegators need 25 AVAX. The minimum delegation fee is 2%. A validator's total stake cannot exceed 3 million AVAX or five times its own stake, whichever is lower.

Returns depend on the lock-up period and, for funds, the proportion of holdings staked. On 6 Nov 2026, the VanEck Avalanche ETF reported a 5.57% yield on its staked AVAX. It had staked 84.28% of its holdings and reported a net staking yield of 4.51% after fees. Our crypto staking calculator models rewards for any amount.

What the Helicon upgrade changed for AVAX stakers

Live since 22 Sep 2026, Helicon allows shorter validator commitments but reduces rewards for short stakes. Avalanche's Helicon documentation details the changes.

• Shorter validator lock-ups: The minimum validator period dropped from two weeks to 48 hours. Delegations still require at least two weeks, so a 48 hour validator cannot accept delegated AVAX.
• Higher uptime bar: To earn rewards, validators must be responsive for 90% of their staking period, up from 80%.
• Auto-renewed staking: Validators can automatically renew at the end of each cycle instead of allowing their stake to expire.
• Lower reward floor: The reward curve's lowest point falls from 10% to 7.5% over a 90 day phase-in. A stake starting 45 days after activation uses a rate of about 8.75%.

Once the change is fully phased in around 21 Dec 2026, Blockworks estimated that the reward for a 14 day stake will fall by about 1.3 percentage points. One-year staking rewards remain unchanged. The proposal's own modelling projects a reduction of 0.5 to 1 percentage point in annual AVAX inflation.

Avalanche network activity and L1 statistics

C-Chain activity reached a record in the second quarter of 2026 before falling back. Avalanche's main chain for Ethereum-compatible apps relies on a small number of large apps for much of its usage, as that swing shows.

The C-Chain processed a record 235.6 million transactions in the second quarter of 2026, its seventh consecutive quarter of growth, up from 21.9 million in the fourth quarter of 2024. Daily active addresses rose from under 30,000 in early January to a quarterly average of about 621,000.

Third-quarter C-Chain transactions fell 19% to 191.9 million, while daily active addresses averaged about 144,000. The daily address count dropped from about 304,000 in July to about 23,000 in September. Transactions proved more resilient, averaging about 2.1 million a day (our calculation).

Activity continued to fall after the quarter. The C-Chain averaged about 274,000 daily transactions in October 2026, based on Avalanche's own network metrics (our calculation).

Fees remain a tiny fraction of a cent. The median C-Chain fee was $0.000014 in the second quarter of 2026, down 99.6% from a year earlier. An earlier reduction came with the December 2024 Etna upgrade, which cut the C-Chain minimum base fee from 25 nAVAX to 1 nAVAX (billionths of an AVAX), a reduction of nearly 96%.

With the Granite upgrade on 19 Nov 2025, validators gained the ability to adjust block times without waiting for a network upgrade.

Avalanche L1 statistics

Avalanche L1s are separate blockchains with their own validators and rules. Etna replaced the previous 2,000 AVAX stake required of L1 validators with a continuous fee that started at roughly 1.3 AVAX a month.

There were 75 active Avalanche L1s at the end of 2025, up from 68 three months earlier. In that quarter, the C-Chain and all L1s together averaged 38.2 million transactions a day. Just 2.1 million were on the C-Chain, placing most transactions on L1s.

Gunzilla led L1 transaction counts in the third quarter of 2026 with 39.3 million, followed by Dexalot at 20.7 million and MapleStory's Henesys at 15.8 million. L1 validators paid the Primary Network 2,444 AVAX (about $18,000) in continuous fees, down 6% from the second quarter.

Avalanche DeFi and tokenised asset statistics

Money on Avalanche has shifted from DeFi apps towards tokenised funds and payment products operated by regulated firms. Our blockchain data dashboard compares Avalanche's total value locked with other chains, alongside stablecoins and trading volume.

Avalanche DeFi TVL and DEX volume

Total value locked (TVL) measures the value of tokens deposited in DeFi apps, including lending markets and trading pools. Avalanche's DeFi TVL stood at $606.4 million on 8 Nov 2026, compared with $1.15 billion on 1 Jan 2026 and a 2025 high of $2.31 billion on 4 Oct 2025. By our calculation, that is a 47% decline this year and a 74% fall from the 2025 high. Its all-time high was $11.49 billion on 2 Dec 2021.

C-Chain lending markets held $622 million in deposits and $234 million in borrowing at the end of September 2026. Third-quarter volume on decentralised exchanges (DEXs), trading apps run on smart contracts, fell 20% to $6.64 billion. Pharaoh accounted for $5.33 billion, or about 80% of the total.

Our DeFi yields dashboard lets readers filter Avalanche lending and trading pool yields by chain. Each pool carries a trust score.

Stablecoins on Avalanche

Stablecoins are tokens designed to maintain a fixed value, usually $1. Avalanche held $1.18 billion in stablecoins on 9 Nov 2026, making it the 12th largest stablecoin chain by DefiLlama's count.

During the second quarter of 2026, the C-Chain recorded $84.4 billion in stablecoin transfers. Card spending on Avalanche rose 74% to a record $10.05 million in the third quarter. Axiym's settlement pools also set a record, processing $529 million in cross-border payments, 4.4 times the year-earlier level. Our stablecoin statistics cover supply across every major chain.

Tokenised real-world assets on Avalanche

Real-world assets (RWAs) are traditional assets issued as blockchain tokens, such as Treasury bills, loans or shares. C-Chain tokenised RWAs reached $1.22 billion at the end of September 2026, ranking fourth among 24 tracked networks. The chain had ranked sixth in June.

BlackRock's BUIDL fund held $486.5 million on Avalanche at quarter end, a 21% increase while the overall fund remained roughly flat. C-Chain tokenised government debt totalled $531.6 million, fifth among 16 networks. Another $407 million of the C-Chain RWA total came from Securitize's own listed shares, issued as the SECZ token.

Across all Avalanche chains, RWA.xyz reported $1.43 billion in distributed real-world assets on 8 Nov 2026, down 17.76% over 30 days. Securitize was the largest issuer, with $636.0 million. Our real-world assets dashboard tracks tokenised stocks and commodities, along with funds, across chains.

Institutions and governments building on Avalanche

Several large institutions moved closer to Avalanche in 2026, although some plans still lack a launch date. Blockworks' State of Avalanche Q3 2026 report is the source for the first four entries.

• Charles Schwab: Plans to add AVAX to Schwab Crypto for its 40.1 million active brokerage accounts. The listing had not gone live by mid-October 2026.
• Janus Henderson: Joined the Avalanche validator set on 16 Sep 2026. As of 31 Mar 2026, the firm managed about $480 billion.
• ICE: Is evaluating Avalanche for a planned blockchain trading platform that would operate around the clock. It has not selected a chain.
• UAE government: The Digital Vault of UAE PASS, used by more than 12 million people, is moving to a dedicated Avalanche L1. Announced in September 2026, the move has no set date.
• NEC: The Japanese technology group signed a memorandum of understanding with Ava Labs on 10 Jul 2026 to explore stablecoin payments verified through face recognition.
• FIFA: More than $25 million in World Cup ticket options was traded and redeemed on FIFA's Avalanche L1 during the second quarter of 2026.

AVAX ETF and treasury company statistics

Listed products give investors AVAX exposure through a brokerage account, though their combined holdings represent only a small share of supply. A spot exchange-traded fund (ETF) holds AVAX for shareholders and trades on a stock exchange. A treasury company is a listed business whose main asset is a large token holding.

VanEck launched the first US spot Avalanche ETF on 26 Jan 2026. The fund charges a 0.20% expense ratio.

Grayscale's GAVA listed on Nasdaq on 12 Mar 2026 with a 0.35% management fee. It had staked 77.06% of its AVAX by 6 Nov 2026. Bitwise's BAVA began trading on 15 Apr 2026, charging a 0.34% sponsor fee. Its quarterly filing reported $16.67 million in net assets on 30 Jun 2026.

The two treasury companies hold substantially more AVAX than the ETFs. Their combined 27.4 million AVAX represents about 6.1% of circulating supply, worth roughly $218 million at the 9 Nov 2026 price (our calculation).

• AVAX One: Held 14,091,424 AVAX and equivalents on 13 Aug 2026, about 95% of it staked. Falling AVAX values accounted for most of its $35.1 million second-quarter net loss.
• Avalanche Treasury Co.: Started trading on Nasdaq on 11 Jun 2026 after merging with Mountain Lake Acquisition Corp. Its holdings reached 13.31 million AVAX on 30 Sep 2026, 40% of it still locked for an average of about 16.5 months. About 91% of its AVAX was staked.
• Sale to the Avalanche Foundation: Avalanche Treasury Co. sold 2.08 million AVAX for $15 million to Avalanche (BVI), Inc., the Avalanche Foundation entity named in its filing, on 23 Sep 2026. We calculate a price of about $7.21 per AVAX.

AVAX futures and derivatives statistics

Traders use AVAX futures to take a price position or hedge existing holdings without owning the token. A futures contract sets a price for a purchase or sale at a later date. Perpetual futures have no expiry. A funding rate, paid by one side to the other at set intervals, keeps them close to the spot price, the price for immediate purchase.

CME Group announced AVAX futures on 7 Apr 2026, offering a standard contract of 5,000 AVAX and a micro contract of 500 AVAX. Its first trades, announced on 6 May 2026, were block trades between FalconX and G-20 Group. Block trades are large deals negotiated privately.

CME's crypto futures moved to 24 hour, seven day trading from 29 May. At an AVAX price of $7.97, a standard contract covers about $39,850 (our calculation).

AVAX futures open interest across exchanges was $324.62 million on 9 Nov 2026. Open interest measures the total value of positions that remain open. This equalled about 9% of AVAX's market cap (our calculation).

Leverage uses borrowed money to trade, magnifying gains and losses from small price moves. If losses grow too large, an exchange forcibly closes the position through liquidation. The AVAX liquidation heatmap estimates where large groups of leveraged AVAX positions would be forced to close.

Our funding rates dashboard shows what traders pay to hold AVAX perpetual futures. The long/short ratio page compares the share of accounts betting on a price rise (long) with those betting on a fall (short).

The risks of holding and staking AVAX

AVAX holders face losses from falling prices, staking restrictions and the products they use to gain exposure. Leverage adds further risk.

• Price risk: AVAX has fallen about 95% from its 2021 high and about 35% since the end of 2025. Its price has no floor.
• Staking lock-ups: Delegated AVAX remains locked for at least two weeks and cannot be sold during that period. Validators earn no reward for a staking period if their uptime falls below 90%.
• Concentration: A smaller validator set now secures more stake per validator. Much of the network's activity and tokenised assets also comes from a few apps and funds. BlackRock's BUIDL fund alone grew from $189 million on Avalanche at the end of April 2026 to $402 million at the end of June.
• Product risk: ETFs charge fees and stake only part of their AVAX holdings. Treasury company shares carry company costs and debt. Avalanche Treasury Co. reported $10.0 million in outstanding debt in its third-quarter results.
• Leverage risk: Futures traders can lose their entire margin, the collateral used to keep a leveraged position open. Our liquidation price calculator shows the price at which a position would be forced to close.