Good news about Avalanche (AVAX), which is among the cryptocurrencies that marked 2021, continues to come. AVAX, which has grown rapidly with institutional investments, especially in the second half of 2021, has made its mark among the crypto currencies that can be Ethereum killer thanks to the technology it offers.
An assessment of AVAX, which is currently the 11th most valuable coin with a market value of $22 billion, came from Bank Of America, one of the largest banks in the USA.
A recent report by Bank Of America stated that AVAX stands out as a credible competitor to Ethereum.
The report highlighted that AVAX is a serious competitor to Ethereum with its scalability, smart contract capability, DeFi projects built on it, and other assets such as NFT and gaming.
More than 380 projects installed on the network have increased adoption of Avalanche, the report said.
Some of the other highlights of the report are as follows:
“With around 4500 transaction verifications per second, it offers faster verification and lower cost than alternative blockchains.
The total value locked in Avalanche and held in projects increased by 21% monthly. The increase since August has exceeded 6255 percent.”
Avax continues to trade at $90 as of our news time.
*Not Investment Advice.