One of the leading crypto research firms MessariHe stated that Avalanche (AVAX) closely follows its major competitor Ethereum with its daily trading volume.
In a new blog post, digital asset and crypto research firm Messari stated that Ethereum processed an average of 1.17 million transactions daily in the first quarter of 2022. Avalanche (AVAX) managed to catch this average in the first quarter.
According to Messari, the Avalanche blockchain caught this average by 74% and could surpass Ethereum in the second quarter if it maintains this momentum.
“With stimulus programs put on hold and subnets on the way, Avalanche will launch in the next quarter. EthereumIt’s pretty interesting and has a great opportunity to get past the .
According to Avalanche, there will be a subnet that will be active and a dynamic set of validators working together to reach consensus on the state of a set of blockchains.
Messari also thinks that Avalanche’s transaction fees may also decline in the second quarter thanks to a major Avalanche upgrade called Apricot.
With the release of the Apricot update, transaction fees have stabilized at one level, averaging $0.67 per transaction. Apricot will be able to make it easier to use ‘verifiable pruning’, a process where nodes can more securely compress past transactions.
“A fee mechanism has already been adopted in the blockchain, which ensures that transaction costs are low and predictable for users. While stable, transaction fees are trending upwards in line with daily transactions. With new releases expected, we expect average transaction fees to continue to stabilize and trend downwards.”
The AVAX price was at $76.94 at the time of writing. The 10th-ranked crypto asset by market cap has dropped more than 3% in the last 24 hours and nearly 20% in the last two weeks.
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