Since its low point on January 23, when $10 billion fell below the $200 billion barrier, the value locked in decentralized finance (defi) has increased. The TVL is currently 13.60 percent higher, due to a significant increase in value locked over the last three days.
Avalanche (AVAX) is back in the running. AVAX, currently ranked 12th, has made huge gains of 13.06 percent in the last seven days.
The price of one AVAX token has risen 9.82 percent in the previous 24 hours and is now at $78.57 at the time of writing.
AVAX market capitalization increased to $19,254,553,442 with 245,053,936 AVAX tokens in circulation after the last 24 hours were added to previous gains.
AVAX to flip ETH and SOL?
Aaron Arnold, a crypto analyst and presenter for Altcoin Daily, believes that a popular layer 1 smart contract platform will have a big year in 2022.
In a recent video, the popular trader informs his 1.21 million followers that Avalanche (AVAX) is about to give Solana (SOL), another Ethereum (ETH) competitor, a run for his money as Solana recovers. of network overload problems last month.
“I believe [Avalanche] has the potential to change Solana, whether in the short, medium or long term. I think he has great potential for the future.”
According to the host of Altcoin Daily, AVAX could overtake Ethereum in terms of transaction volume.
He says that although Ethereum is the market leader for open source layer 1 DApp platforms, the difference in daily transactions between Ethereum and AVAX is now only 3%, or 33,000 transactions. TO
VAX appears to be on the verge of transacting Ethereum, which is a major milestone, he added.
Arnold then goes over the various niches that Avalanche now serves in the crypto market.
The AVAX ecosystem is one of the largest in the universe. Massive DeFi sector, which has attracted a large number of people from the Ethereum DeFi sector.
The game and NFT [non-fungible token] The sectors are huge. It also has DApps, a private wallet, etc. Therefore, AVAX is definitely one to consider.
This post Avalanche outlook for 2022 looks solid! AVAX to Switch to Solana (SOL) Soon – Coinpedia – Fintech & Cryptocurreny News Media
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