- AVAX had an average daily transaction volume of 475,000 in Q4 2021.
- Avalanche costs are 26856% less expensive than Ethereum fees.
It’s been a long time since the top altcoin has been overtaken. Because of Ethereum’s long-term success, a slew of Ethereum-killers has sprung up to challenge the top altcoin’s market dominance.
On January 27, Avalanche, the smart contract platform developed by Ava Labs, handled 1.1 million transactions, almost matching Ethereum’s total. This information was provided by CEO Emin Gun Sirer of Ava Labs.
Avalanche ($AVAX) processed 1.1 million transactions today, approximately 96% of Ethereum's load. Average fees for a swap operation were $0.23 on Avalanche and $62.00 on Ethereum.— Emin Gün Sirer🔺 (@el33th4xor) January 28, 2022
Let's build together.
According to data provided by Sirer, Avalanche has completed 1.1 million transactions, which is 96 percent of Ethereum’s load. According to him, the average charge for an Avalanche trade was $0.23, whereas the fee for an Ethereum swap was $62.00. Another way, Avalanche costs are 26856% less expensive than Ethereum fees.
AVAX had an average daily transaction volume of 475,000 in Q4 2021, whereas Ethereum had 1.25 million transactions per day, according to Messari statistics. To put things in perspective, Ethereum’s daily average was approximately 160 percent higher than Avalanche’s.
Transaction Fee Still A Concern For Ethereum
Avalanche has emphasized that the blockchain is attractive to ‘fee-sensitive’ customers since it provides reduced costs compared to ETH, which has received much criticism for its high fees. Avalanche has also emerged as a desirable platform for new projects whose primary goal is to keep EVM compatible.
Only a few blockchains have maintained their status as ETH killers throughout the years. The impressive rise in Avalanche’s market capitalization over the last year is evidence of this. Nearly a 650 percent increase occurred in AVAX’s market value, which went from less than $4 billion in August last year to $30 billion by the year’s conclusion.