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News

Avalanche Is Now Attracting More And More Ethereum Users Due To Its Outstanding Advantages

January 17, 2022 - Around 2 mins mins to read

“In the last 3 days, $367.5 million has been transferred from Ethereum to Avalanche,” Jay Kurahashi-Sofue.

  • avalanche

Avalanche has a market capitalization of around $22 billion, according to CoinMarketCap. This platform is now the 12th-largest cryptocurrency in terms of market capitalization. Furthermore, the AVAX cryptocurrency is only $4.4 billion away from joining the top 10 largest cryptos.

On January 17, Jay Kurahashi-Sofue, AvaLabsOfficial VP of Marketing, has announced that Avalanche now has $367.5 million transferred from Ethereum.

  • avalanche

Maybe the reason for this shift is that everyone is fed up with paying excessive fees for transactions on Ethereum. Furthermore, the Avalanche network has advantages that Ethereum does not. The transactional throughput rate of Ethereum is 14 tps. Meanwhile, the red DeFi network has almost 4,500 tps. Besides that, the transactional finality time for Ethereum is 6 minutes. Avalanche outperforms those times, with a transactional finality time of fewer than 2 seconds.

Of all the top altcoins in the crypto market, AVAX was one of the few that managed to maintain an uptrend during the bear market. On January 16, AVAX peaked at $94.79, while 1 year ago its price was only $12.88.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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