The competition to win the highest altcoin took place some time ago. in fact, Ethereum Over the years, success has led to the emergence of ethno-killers, who are trying to disrupt the huge monopoly market of the alcohol market.

Recently, according to information shared by Emin Gun Sirer, CEO of Ava Labs, a smart contract platform Avalanche On January 27, it traded 1.1 million transactions, close to Ethereum.

Is he going to control ETH?

According to information shared by Cyrr Avalanche, it traded 1.1 million transactions to increase the volume of Ethereum by 96% to overthrow the market leader. In addition, the average transaction fee for Avalanche was $ 0.23, and Ethereum was $ 62.00. Payments on Avalanche were 26856% lower than Ethereum.

According to the device, the average daily trades of AVAX in Q4 2021 were 475,000, compared to 1.25 million transactions per day for Ethereum. Ethereum’s daily average was 160% higher than that of Avalanche.

Avalanche also said that blockchain offers lower pay compared to ETH, which has been heavily criticized for higher fees in the past, and is attractive to ’emotional’ users. Avalanche has become an attractive platform for future projects looking to maintain compatibility.

Ethereum is still king.

While many blockchains have appeared in the past as ETH-killers, only a few have been made necessary. Avalanche’s growth over the past year has been impressive and the market is booming.

AVAX market value rose from $ 4 billion in August last year to $ 30 billion, up 650% at the end of last year.

However, Ethereum’s market monopoly remains controversial and the blockchain continues to be at the top, second only to second. Bitcoin With a market value of $ 286 billion. This means that the total value of the chains locked in DeFi ETH is locked by 507 protocols built on the chain and a total value of $ 112.37 billion.

Avalenche, on the other hand, is ranked 5th in TVL with 153 protocols. In particular, TVL fell by 19.16% on Avalanche and stood at $ 8.18 billion during press time.

Where is the price going?

While the high trading volume shows the more active and active Avalanche network, AVAX was priced at $ 62.46 at the time of writing and is down 4.55% in the last 24 hours and 16.14% in the last week.

Ethereum fell 3.13% yesterday and 15.75% last week and traded at $ 2,381.62 during the press period. In particular, the global cryptocurrency market stood at $ 1.65 trillion and fell 0.53% on the last day. In the near future, Bitcoin profits may help with the recovery of Alcohol, but for the time being most of the market seems to be strong.


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