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Avalanche (AVAX) is proving yet again how a cryptocurrency can be completely revived and placed on a rare growth pedestal. The proof-of-stake (PoS) protocol, described as the fastest in the industry in terms of Time to Finality, has entered into the top 10 list of cryptocurrencies by market capitalization after its resounding 105% growth over the past month.
At the time of writing, Avalanche is trading at $26.08, up 18.09% in the past 24 hours. At this price level, the coin has seen its market capitalization jump to $9,595,546,728, displacing Tron (TRX) with a market cap of $9,127,215,220 from 10th place. The performance is highly revered as it underscores the sustained attempt by Avalanche to stay relevant by keeping up with the innovation and evolution in the industry.
Avalanche’s current price above $26 is the highest the coin has printed thus far this year, and this price level comes off as the best from the cryptocurrency since Aug. 18, 2022. This proves that irrespective of the crypto winter, Avalanche has had to fight many internal hurdles to record the history it now boasts of today.
Specific Avalanche on-chain records
Avalanche has a rich history of impressive on-chain activity spanning beyond just price action. As reported by U.Today last Friday, Avalanche recorded an all-time high (ATH) in its on-chain transactions, which came in at 3.07 million. The impact of Ordinal inscriptions on the network reportedly aided this milestone.
Avalanche has also mimicked its peers in ushering in some of the most hyped projects in recent times. The social protocol, Stars Arena, contributed to the growth of Avalanche recently, although the Friend Tech copycat hit a roadblock recently.
Also, Avalanche was recognized for its unique value proposition as it featured in a JPMorgan experiment, effectively setting it up on the global financial scene.
Alex Dovbnya
