Avalanche’s Snowtrace to Deactivate, Community in Frenzy

Snowtrace, the blockchain explorer and analytics platform for the decentralized smart contracts firm Avalanche C-Chain, has alerted the community about its closure of activities. According to the prior notice on the platform’s official website, Snowtrace will be deactivated today at 00:00 UTC.

Crypto analytics platform PeckShieldAlert took to X earlier today to draw the community’s attention to the unexpected move from the Avalanche C-Chain browser. As the platform alerts users about the discontinuation of activities, community members are urged to download private name tags and contract verification before the mentioned date.

Prominent Chinese crypto reporter Colin Wu also shared an official post on his X account sharing insights on Snowtrace’s decision to discontinue services. The reporter shed light on the prevailing speculations about the Avalanche team’s further procedures, commenting that they “may stop paying.”

However, eliminating a major portion of the ambiguities regarding the explorer’s deactivation, Phillip Liu Jr, a founding team member of Avalanche Labs, responded to Wu’s tweet. Liu’s response signaled a potential development in the Avalanche ecosystem, as he stated, “Moving on to something better”.

While the reason for the sudden deactivation of the explorer remains in mystery, the community is still unclear about the repercussions in the future. Though the consequences of the move are not obvious, crypto enthusiasts and community members are still concerned about the wider impact on the Avalanche ecosystem and the blockchain space as a whole.