Avalanche (AVAX) loses 30%+ in April, but its DeFi footprint leaves room to be bullish

Cointelegraph

Published Apr 29, 2022 04:00PM ET

Updated Apr 30, 2022 06:00PM ET

Avalanche (AVAX) price is down more than 30% in April, but despite the negative price move, the smart contract platform remains a top contender for decentralized applications due to its scalability, low-cost transactions and its large footprint in the decentralized finance (DeFi) landscape.

AVAX token/USD at FTX. Source: TradingView

The network is compatible with the Ethereum Virtual Machine (EVM) and unique in that it does not face the same operational bottlenecks of high transaction fees and network congestion.

Avalanche Total Value Locked, AVAX. Source: DefiLlama
Avalanche DApps 30-day data. Source: DappRadar

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