Avalanche Outperforms Ethereum with Impressive Gains
While Ethereum (ETH) has been experiencing losses, Avalanche (AVAX) has been moving in the opposite direction. In the past week, while Ethereum declined over 4%, Avalanche has advanced by 38%. Moreover, in the last month, Avalanche has skyrocketed over 100% while Ethereum only gained 6%.
Avalanche briefly crossed the $40 mark before retracting back below it, but not without leaving an impact on the lagging market. Bitcoin (BTC) also dropped nearly 7% in the last week. Avalanche has outperformed its rival in terms of decentralized finance (DeFi) assets, with a yearly return of over 200%.
Avalanche’s Positive Signs and Price Analysis
Avalanche has seen a significant increase in large transactions of its token, with nearly 1,000 transactions larger than $100,000 recorded in the week leading up to December 11. This is considered a positive sign for investors.
Currently priced at $36.44, Avalanche has experienced a decline of 9.63% in the last 24 hours. However, it has still shown an impressive increase of 41.65% over the previous seven days and a remarkable advance of 102.22% in the past month.
Hot Take: Avalanche Emerges as a Strong DeFi Project
Avalanche’s recent performance showcases its strength and potential as a top-tier DeFi project. Despite the slightly bearish turn of the crypto sector, Avalanche continues to make surprising movements and solidify its position as the ninth-largest digital asset. With its impressive gains and positive signs, it joins Ethereum and Solana as one of the top three DeFi projects to consider investing in right now.
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