one Ethereum (ETH) saw massive growth in 2021, survived several major corrections in the general crypto market and now claims a place in the top ten digital assets Market capitalization.
Smart contract platform and Ethereum competitor Avalanche (AVAX) opened the year at $ 3.27 and hit a on November 21 All time high of $ 147.42, an increase of 4,408%.
The price of AVAX has withdrawn slightly and is now traded at $ 112.83 at the time of writing.
Even after the retracement, AVAX climbed the rankings and is now the ninth largest crypto asset with a market valuation of 28.12 billion US dollars. It’s next to XRP with a market capitalization of $ 39.13 billion and closely followed by Terra (LUNA), which ranks 10th with a valuation of $ 27.46 billion.
Avalanche aims to be a faster, cheaper alternative to the leading smart contract platform Ethereum. In light of the growing demand for altcoin, the Kraken crypto exchange recently rolled out support for AVAX, with trading set to begin on December 21st. The exchange says that AVAX will be tradable against US dollars (USD) and euros (EUR).
Earlier this week, crypto custody company BitGo also announced that it will provide its institutional clients with access to AVAX and assets natively on Avalanche ‘SC-Chain since the demand for decentralized high-speed financing platforms (DeFi) increases.
AVAX is up 3,325% since the start of the year and over 43% in the last seven days. In comparison it is Bitcoin (BTC) up 62% since Jan 1st and down 3% last week.
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Source: Crypto News Deutsch