Cointelegraph Consulting: How Avalanche is reimagining DeFi
Cointelegraph
Published Sep 23, 2021 02:15PM ET
Updated Sep 24, 2021 04:20PM ET
It’s not the first time that the native token of the Avalanche blockchain has encountered wild fluctuations. In February, AVAX shot as high as $60 only to reach a nadir in June and July. But after bottoming at $9.34, AVAX is now beyond $60 and is currently trading at $76. This has earned it a spot in the top 20 cryptocurrencies by market capitalization with $16 billion, according to Cointelegraph Markets Pro. Avalanche is among the layer-one blockchains tagged as “Ethereum killers” that appear to have reduced the recent dominance of the top altcoin in terms of total locked value (TVL). Of the $170 billion in TVL, Ethereum presently controls 67% based on data from Defi Llama. But while the number appears high, it’s actually much lower than February when it contained about 96% in TVL.
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Written By: Cointelegraph
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