Avalanche prepares the ground for growth in 2023

Do repost and rate:

Avalanche is one of the most promising young projects. Thanks to separating its blockchain into functional subnets, the current average transaction completion rate is 0.8 seconds. Ethereum, with its 6 minutes, looks like a dinosaur by comparison.

Launched 30 months ago, Avalanche was the first blockchain to partner with Amazon in January 2023. It allows developers to offer scalable blockchain decisions to users and governments that utilise Amazon Web Services.

This led to a 2.7-fold increase in the number of active addresses this year to 97,000.

On 25 May, Circle announced that it was unrolling the EUROC stablecoin on Avalanche. EUROC is ranked third among euro-based stablecoins, with a market cap of $52 million.

That's nothing compared to the overall stablecoin market, but the unjustified tightening of regulation in the US and the imminent adoption of the MiCA bill in the EU have already led to a shift in the financial sector. The migration of companies from the US to Europe and increased transparency when dealing with cryptocurrencies in the EU will lead to higher demand for euro-based stablecoins.

This will consequently affect interest in Avalanche as the costs users and operators encounter are way lower than those of Ethereum.

Avalanche is now trading 28% higher than it was in early 2023, but that's still a drawdown of 90% against its all-time high. The coin looks undervalued compared to the prospects and growth of the projects involved in the network.

Futures traders share this opinion. Open interest set an 11-month record on 18 April, and the 2023 funding rate is mostly in the green zone.

StormGain Analytical Group

(platform for trading, exchanging and storing cryptocurrency)

Regulation and Society adoption

Ждем новостей

Нет новых страниц

Следующая новость