- The TVL has risen 13.60 percent in the previous three days.
- Solana heals from last month’s network capacity worries.
The value locked in decentralized finance (DeFi) has increased since its low on January 23, when it fell by $10 billion less of the $200 billion thresholds. The TVL has risen 13.60 percent in the previous three days due to a considerable increase in the value locked.
There is a new entrant in the contest: Avalanche. After seven days of increases of 13.06 percent for AVAX, the 12th-ranked cryptocurrency, the market capitalization has increased significantly. During the last 24 hours, the AVAX token price has climbed by 9.82 percent to $78.57. Altcoin Daily’s Aaron Arnold predicts a popular layer-1 smart contract platform will have a breakthrough year in 2022.
As Solana heals from last month’s network capacity worries, the well-known trader tells his 1.21 million YouTube subscribers that Avalanche (AVAX), another Ethereum (ETH) rival, is all set to present a formidable challenge.
Read More: Avalanche Price Prediction
Just 3% Short of Overtaking Ethereum
According to the host of Altcoin Daily, it’s possible that AVAX might surpass Ethereum in terms of transaction volume. As a result, even though Ethereum is the leading layer-1, open-source Dapp platform, just 3 percent, or 33,000 transactions, separate it from AVAX on a daily basis.
Arnold then discusses the different cryptocurrency markets in which Avalanche is presently active. AVAX’s ecology is one of the most comprehensive in the whole galaxy. Many users from Ethereum’s DeFi sector have moved to the massive DeFi industry.
Sectors such as gaming and NFTs (non-fungible tokens) are enormous. Moreover, Dapps, a private wallet, and other features are included. As a result, AVAX warrants close attention.
