How the avalanche climbed to the top

If you have been following the broader crypto market lately, you may have noticed the emergence of Avalanche (AVAX). Although many of the largest cryptocurrencies have experienced some small declines, most of which came after absurd increases throughout the year, Avalanche’s performance has surpassed its peers by leaps and bounds.

If you are not familiar with the blockchain led by Ava Labs, now may be the time to become familiar. The $AVAX token has found a way to actively challenge the top 10 cryptocurrencies by market capitalization-this is not a trivial task-and there are no necessary memes to achieve all of this.

When it rains, is it… an avalanche?

Although the dictionary definition of avalanche is “snow, ice, and rocks falling quickly from a mountain slope,” AVAX tokens have been…just the opposite in recent weeks. The one-month chart tells a story where prices have roughly doubled in the past 30 days:

AVAX has had stellar Q3 and Q4 this year. | Source: AVAX-USD on TradingView.com

There is nothing to write about.In fact, if you look at the top 20 tokens by market capitalization, excluding stablecoins, only two tokens have a green chart in the past 7 days at the time of launch: Crypto.com’s token $CRO, performing well After signing the naming rights for the formerly famous Staples Center in Los Angeles, And of course an avalanche. The surge caused AVAX to surpass memetic tokens such as Dogecoin and Shiba Inu among the most valuable tokens. At the time of launch, AVAX and DOGE were on par in terms of market capitalization. This is no joke.

At the same time, some of these top tokens, including established long-term players like Litecoin and Chainlink, fell 15-20% during the same period. So what is the secret to the success of the recent avalanche?

Related Reading | Prepare for more downtrends: 15% of Bitcoin supply is now at a loss

Timing: Deloitte deal

Some of Avalanche’s success must be attributed to ideal timing. The momentum has been formed at the end of October and early November.Last week, our team Reported on the new transaction between Ava Labs and Deloitte, Designed to improve efficiency around disaster response time.

However, even earlier this year, Our team also released an in-depth report This highlights that Avalanche is the main competitor occupying most of the DeFi market share. Since then, the momentum of the blockchain has been growing; in September, the Avalanche Foundation raised nearly $1.5 billion in funding. Avalanche has also launched a large-scale incentive plan in recent months to attract investors.

Ethereum challengers offer drastically reduced gasoline fees, show strong potential in DeFi and NFT, participate in more environmentally friendly transactions, and have fast transaction times. They have the opportunity to shine this year-arguably the same amount. If not more, a few years have passed. Take Solana as an example, A record high in recent weeks Because the token has established its second position in the NFT after Ethereum. Of course, Avalanche is certainly a viable candidate here.

Avalanche: more than just riding the wind and waves

With all of this in mind, don’t ignore Avalanche just because Avalanche has won a winning streak at the right time.Token Do In view of the recent heat in the DeFi and NFT fields, there are fundamentals that justify its price surge and provide many positive reasons.

The Ava Labs team did not fully invest in marketing, but focused on in-depth white paper details and built on the basis of the chain. Avalanche uses a consensus model, which means that instead of using a proof-of-work or proof-of-stake mechanism, the chain uses random voting to verify transactions. This makes the chain more difficult to attack and is very efficient in terms of transaction time and transaction volume. Avalanche products have left us a lot worthy of capitalization.

In addition, as we all know, Avalanche is actually composed of multiple chains such as X-Chain, smart contract C-Chain, and P-Chain. This is particularly friendly to developers and allows blockchain engineers to have versatility in the products they are creating. The AVAX token also includes governance, but the token is subject to a large number of pre-sale tokens that may be unlocked in the next few months.

Although avalanche is everything, but we really said No emoji! ? This is encryption, So some memes are just a prerequisite.

Related Reading | The November crypto market turmoil shakes the core of holders

Featured image from Pixabay, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.



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