Ethereum’s primary rival Avalanche is having a massive week. Capital from investors is coming back to the network as smart contracts leading to an almost 18% rise in its TVL. According to analytics provided by DeFi Lama, AVAX now has a TVL of close to $10.48 Billion.
The highest ever TVL recorded on Avalanche was in December of last year when the TVL was nearing $13.8 Billion.
TVL of any blockchain network is the total of the collateral on the network multiplied by the current value of those assets.
Avalanche is now the world’s fourth-biggest blockchain network in terms of TVL. It has already crossed the TVL of its closest competitor Fantom (FTM).
Many futurists claim that everything will be tokenized, and most businesses will be entirely revolutionized by blockchain, including the whole financial infrastructure, supply chain, identity, capital markets, and energy, as well as the Internet itself. The present market capitalizations of AVAX are a fraction of what they will be if it gets close to mainstream adoption. According to some enthusiasts, it will only be a matter of time until the price of an AVAX reaches four figures. If you are a trader on Avalanche and want to keep track of the ups and downs of AVAX prices, then check out this AVAX price prediction. Crypto is increasingly becoming a major investment arena, and more advanced price prediction is becoming a necessity to keep the exercise profitable.
In January of 2022, Fantom overtook Avalanche in TVL, but this last week has seen Avalanche take back its top spot from FTM.
The native asset of the Avalanche blockchain network, AVAX, is also having a strong week. AVAX prices have gone up 12% over the course of the last seven days. AVAX is now trading at $83.26. AVAX is ranked 12th on the list of crypto assets available worldwide.
Smart Contracter, a reputed cryptocurrency trader, has already estimated that AVAX is well set to have a good rally in the next few weeks. Smart Contractor expects that AVAX will edge out many other options on the market, and there are chances that AVAX prices may peak at an all-time high.
