Market

Avalanche (AVAX) Skyrockets 17% to Displace Tron (TRX)

Mon, 22/07/2024 – 9:30

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Avalanche (AVAX) has just edged out Tron (TRX) in the ranking as the market lights up after a sudden recovery came on Sunday evening. At the time of writing, Avalanche is changing hands for $31.94, up by 10.91% in the past 24 hours. The digital currency has extended its weekly gains to 17.03% to underscore its sustained positive twist.

Advertisement

Article image
Avalanche 1D Chart. Source: CoinMarketCap

Uneven flipping game

The growth trends of Avalanche have pushed it to hit a market capitalization of $12,608,433,339. This has pushed it above Tron’s $11,835,009,812. This flip is nothing special, except Avalanche can sustain the growth trend in the long term.

Related

Michael Saylor Reacts to Musk’s Apparent Bitcoin Endorsement

Token flipping is common on the market, especially if there is an uneven surge in some vital metrics between the two tokens. While Avalanche is in the spotlight at the moment, it is one of the most flipped digital currencies in the top 20 assets by market capitalization.

Specifically, Shiba Inu (SHIB) has a more definitive record of flipping Avalanche on the market. The latest of this flipping, as recorded by U.Today came about a week ago. However, as is common, the meme coin could not keep up with the ranking.

Avalanche is looking primed to go further as it stands, considering its trading volume has skyrocketed by 214% in 24 hours, to $857,560,520. This is proof that the sentiment is high.

Best of Avalanche yet to come

Avalanche is a high-performing coin whose best is yet to come. Notably, the Avalanche ecosystem is advancing at a fast pace. The protocol is doing all it can to innovate, in a bid to compete with its peers overall.

Related

Mt. Gox $6 Billion Bitcoin Stack on Move Again: Selling Incoming?

While Avalanche is actively working to right its wrongs, including downtime issues, some of its protocols, like Benqi, are attracting good traction that might further boost its growth prospects in the near future.

SOURCE

Leave a Comment

OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD OPD