A crypto analyst Crypto Stream with over 35k X (Twitter) followers dropped a bombshell analysis comparing up-and-coming blockchain Avalanche to the popular Solana network.
While Solana has seen massive growth in recent months, the analyst revealed that Avalanche has quietly pumped over 280% from its October lows.
Why has Avalanche been surging under the radar? It comes down to a major upcoming partnership with JP Morgan to build their new ON
YX blockchain. ONYX will run on an Avalanche subnet, giving Avalanche a big credibility boost.
However, the analyst warned investors to be cautious, as early Avalanche investors may look to take profits after the recent parabolic run.
Delving into the data, the analyst found that trading volume on Avalanche is accelerating rapidly. While Solana sees higher total volume, Avalanche has a higher ratio relative to its market cap, which is 3x smaller than Solana’s.
Surprisingly, Avalanche only has 33k active addresses, versus over 300k on Solana. The analyst deduced this means transaction values are higher on Avalanche. For now, retail activity remains lower compared to Solana.
But that’s poised to change with bullish developments in Avalanche’s burgeoning crypto gaming sector. Major influencers like YouTuber Alex Becker with 2 million followers are promoting gaming projects on Avalanche.
With play-to-earn gaming set to explode, the analyst believes Avalanche gaming will spark major retail interest in the network.
So does this all mean Avalanche will “trounce” Solana soon? The analyst concluded the new gaming narrative could boost Avalanche significantly in this market cycle. However, he advised caution buying Avalanche after the recent rally.
But with strong fundamentals and increasing real-world adoption, Avalanche appears to be an underrated contender versus the mighty Solana. Crypto investors should keep an eye on this emerging Ethereum competitor as its network effects continue gathering steam.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com