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Avalanche

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

The Avalanche protocol was released by an anonymous group called Team Rocket in May of 2018. It was then developed by a group of Cornell researchers led by Emin Gun Sirer, who is now the founder and CEO of Ava Labs. 

The Avalanche Mainnet was launched in September 2020, when it also issued its native $AVAX token. 

Avalanche is an open, programmable smart contracts platform built to enable the launch of decentralized applications that are scalable and secure. 

Avalanche is designed with an emphasis on interoperability, meaning its infrastructure could be utilized by a multitude of blockchains that use $AVAX as the underlying token. 

$AVAX has a capped supply of 720 million tokens. The rate at which the maximum cap is reached is subject to governance of token holders. 360 million tokens were supplied at the genesis block, while the remaining 360 million are minted over time. 

Avalanche has gained traction with decentralized finance applications due to its high speeds and low costs. Total value locked (TVL) on the Avalanche ecosystem exceeds $13 billion as of Nov. 2021. It crossed $1 billion for the first time in late August 2021.


Avalanche's top DeFi protocols by TVL are Aave and Trader Joe. TVL represents the amount of assets being staked on a certain protocol.

Polkadot

Avalanche fell to a two-week low on Tuesday, as the token broke out of a key support point. Prices fell below a floor at $17.50, which comes as the global cryptocurrency market cap is down by 1.01% as of writing. Polkadot also extended its recent losses, falling by nearly 3% on Feb. 28.

Biggest Movers: AVAX Hits 2-Week Low as DOT Extends Recent Losses

Cardano

Cosmos

A widely followed crypto analyst says he's looking to snap up several altcoins, including two prominent Ethereum (ETH) competitors, when the time is right.

Coin Bureau Looking To Accumulate Cardano, Polkadot and Three Additional Crypto Assets When Time Is Right

Emin Gün Sirer said Sam Bankman-Fried's alleged fraud tarnished the crypto industry's goodwill.

‘Immeasurable' Damage Done to Crypto by SBF: Ava Labs CEO

Chainlink

Polygon

Fantom

Popular crypto strategist Michaël van de Poppe is predicting bullish continuations for a handful of altcoins, including Avalanche (AVAX), Polygon (MATIC) and Chainlink (LINK). Van de Poppe tells his 649,000 Twitter followers that he believes the trend for smart contract platform Avalanche is still up, despite its recent pullback.

Extended Rallies for Avalanche, Polygon, Chainlink and Two Additional Assets Incoming, Predicts Top Crypto Analyst

Polygon rallied to a ten-month high on Thursday, as the token rose for a third straight session. Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing. Avalanche also surged, hitting a one-week high.

Biggest Movers: MATIC Hits 10-Month High as AVAX Extends Recent Gains

Such transactional activity came even as the total value of tokens locked on Avalanche-based decentralized finance applications slid from 2021's $15 billion peak to just over $900 million in November 2022.

Avalanche Blockchain Saw 1,500% Transactional Growth in 2022: Nansen

Aave

Chainlink's Proof of Reserve (PoR) feature is now available on Aave lending platform on the Avalanche blockchain.

Aave integrates Chainlink's proof of reserves on Avalanche via BGD Labs

Shiba Inu

A widely followed crypto strategist thinks that Shiba Inu (SHIB), Avalance (AVAX), Fantom (FTM) and one more altcoin are likely not yet done rallying. Pseudonymous analyst Altcoin Sherpa tells his 191,000 Twitter followers that meme coin Shiba Inu is likely headed to $0.000016 after taking out resistance at $0.000013.

Analyst Forecasts Extended Rallies for Shiba Inu, Avalanche, Fantom and One Additional Crypto Asset

Ethereum

Solana

Bloomberg's lead commodity strategist says that scaling solutions on Ethereum (ETH) may be threatening the rise of the alternative layer-1s like Solana (SOL) and Avalanche (AVAX).

Bloomberg Analyst Warns Rise of Solana, Avalanche Could Be Thwarted by Polygon and Other Ethereum Layer-2s

Avalanche moved to its highest point since August, as the token rose by as much as 17% in today's session. Cryptocurrencies surged across the board, following the latest Federal Reserve rate hike, with the global market cap 4.29% higher as of writing this.

Biggest Movers: AVAX Hits Highest Point Since August, Following 17% Jump

The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 2, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Network Update Lifts AVAX

Intain chose to build its platform on an Avalanche subnet for its customizability and so it doesn't have to rely on the economics of a different blockchain.

Intain launches Avalanche subnet for asset-backed securities

Bitcoin

An analyst who called the end of Bitcoin's (BTC) bull market last year is predicting surges for blockchain scaling solution Polygon (MATIC) and smart contract protocol Avalanche (AVAX). Pseudonymous analyst Pentoshi tells his 671,300 Twitter followers that MATIC looks bullish and could be gearing up for a rally toward a major resistance area.

Crypto Strategist Predicts Rallies for Polygon and Avalanche, Says Ethereum Setting Up To Outperform Bitcoin

Dogecoin

Dogecoin rose to a six-week high on Saturday, as prices rose above a key resistance level to start the weekend. The meme coin climbed to its strongest point since December, as the global crypto market cap was mostly in the green in today's session. Avalanche also surged today, hitting its strongest point since August.

Biggest Movers: DOGE up to 6-Week High, as AVAX Jumps 13% on Saturday

The crypto market's green streak to start the year ended on Friday as Bitcoin and Ethereum lost steam—but other names saw green.

This Week in Coins: Ethereum Drops as Aptos, Axie, Avalanche See Big Gains

A popular cryptocurrency analyst and trader is expressing near-term bearish sentiment for Binance Coin (BNB) and one Ethereum (ETH) competitor. Starting with Binance Coin, the pseudonymous analyst Smart Contracter tells his 219,100 Twitter followers that the fifth-largest crypto asset by market cap could plummet by about 12% from current levels.

Crypto Analyst Who Nailed Bitcoin's 2018 Bottom Warns Binance Coin and One Ethereum Rival Primed for Pullbacks

Mark Yusko, CIO at Morgan Creek Capital, said that Avalanche (CRYPTO: AVAX) has the potential to outperform the entire crypto market, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). What Happened: Yusko, in a YouTube video, said AVAX could rally by 50 times in the next bull cycle, provided that Bitcoin and major coins remain successful.

This Crypto Could Rally 50x Higher, Outperforming Bitcoin And Ethereum, Says Morgan Creek's Yusko

Morgan Creek Capital CIO Mark Yusko says Avalanche (AVAX) has the potential to go on a massive surge and outperform the rest of the crypto market in the next cycle.

Can Avalanche (AVAX) Do a 50X? Crypto Bull Mark Yusko Says Ethereum and Layer Ones To Outrun Next Bitcoin Rally

Avalanche moved to a multi-month high on Jan. 24, after reports that the number of bitcoin on its network rose to 5,493. The news saw the token surge by nearly 5% today, rising for a third straight session in the process. Polygon also moved higher on Tuesday, hitting a one-week high.

Biggest Movers: AVAX Hits Multi-Month Peak, as MATIC Jumps to 1-Week High

Members of the crypto community have been discussing the number of bitcoins that have been bridged over to the Avalanche network, which is now larger than the total value locked on the Lightning Network. At the time of writing, there are 5,493 bitcoins circulating on the Avalanche blockchain, while the Lightning Network holds 5,248 bitcoins.

Bridged Bitcoin on Avalanche Surpasses Value Locked on the Lightning Network

The hackers that targeted Harmony network in a $100 million hack last year have bridged their ill-gotten gains from Bitcoin to Avalanche, Tron and Ethereum, according to on-chain analysis by blockchain sleuth MistTrack.

Harmony Hackers Cover Tracks by Bridging Portion of $100M Loot to Avalanche, Ethereum and Tron

Web3 gaming investors are backing the revamp of 90s virtual pet game Neopets.

Neopets Meta raises $4m in funding from Polygon Ventures, Blizzard Avalanche

The platform aims to expand to Arbitrum and BNB Chain in the coming weeks and is changing part of how its tokens are rewarded and distributed.

Avalanche DEX Trader Joe Plans to Make its Tokens More Valuable for Users

The total circulating supply rose on Avalanche to around $118 million surpassing Lightning's near $100 million.

Bitcoin Bridged to Avalanche Surpasses BTC Locked in Lightning Network

Smart contract tokens and the decentralized finance economy have been on a tear during the last month, gaining against the U.S. dollar. The market capitalization of the smart contract platform token economy has swelled by $78 million over the last 30 days, increasing from $243 billion to the current $321 billion.

News for Avalanche Crypto (AVAX)