Avalanche makes progress amid Ethereum stagnation
Avalanche, a digital asset of the blockchain project, did not succumb to the trend that bitcoin has been setting in the past few weeks, pulling back from its local highs. Over the past seven days, altcoin has jumped in price by 23%, while bitcoin has fallen in price by 7.4% and Ethereum by 6.1%.
As you know, bitcoin has been in strong correlation with the S&P 500 and Nasdaq Composite Wall Street indices since this fall, while Ethereum fluctuates more than half the time in unison with the #1 cryptocurrency. Against this background, the Avalanche phenomenon is quite remarkable.
Together with Solana (SOL, #5 in terms of capitalization), Avalanche is breathing down Ethereum's neck, seeking to expand its influence in the DeFi sphere more and more.
The average daily number of transactions on the Avalanche blockchain is constantly increasing, it has crossed the level of 700 thousand and thus updated another historical maximum.
