Price Analysis

Is Avalanche Surreptitiously Working To Flip Ethereum’s Utility Dominance?

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Dec 8, 2021

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Highlights

    Avalanche network burns the midnight oil, as the blockchain continues to receive spur from its growing collaborations and adoptions.

    Enthusiasts continue to back the protocol in view of the overwhelming metrics.

The crypto town has been ardently tarrying for bright and sunny days to prevail. That could counter the burdening dark clouds that have been hovering over the industry. While traders gripe over the slashing prices of digital assets. The underlying blockchain continues to ascend stoutly, unflinching by market trends.

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Avalanche is one of the prominent smart contracts platforms, which has been flourishing in space. The blockchain has been thriving with numerous adoptions and collaborations. The applications based out of Avalanche continue to prosper at an appreciable pace.

Avalanche Evolving To Be The Ethereum Killer?

According to sources, the MELT staking pool goes live on Defrost Finance. The users can stake MELT to get more MELT and H20. The interest automatically compounds to 107% a year. Users also get access to governance, while incurring no impermanent loss. 

Platypus De-Fi will be launching an “Initial DEX Offering” (IDO) worth $1,000,000 on the Avalanche app. Registration for which commences from the 9th of December, 2021. While the sale is scheduled for the 13th of December 2021. 

Moreover, the Avalanche ecosystem has been on a constant rise lately. The top 3 gainers for the last 24-hours as on the previous day are LF with gains of 241.5%. TEMPO with gains of 43.1%, and ALEPH at 12.9%. In addition, Hurricane Swap, the first cross-chain liquidity DEX on Avalanche, is now listed on Hotbit news.

AVAX Price 

AVAX at the time of writing is trading at $90.46 while scripting red gains of 6.1%. The market cap of the digital asset is currently hovering at about $21,975,393,566. While the volume of trades for 24-hours is at $866,271,760. The digital coin has been trading in the frequency from $88.06 to $96.29. The ATH of $144.96 is now short by 37.8%, which was last claimed about 17 days ago.

Collectively, Avalanche has been the go-to smart contracts platform for users looking forward to lower transaction costs and faster transactions. Netizens are expecting a spike in gas fees of smart contract chains like Avalanche and Solana in near future. However, the ecosystem of Avalanche seems promising with its flourishing protocol.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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