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Avalanche, the New Public Favorite


Avalanche, the New Public Favorite
After Solana made quite some noise, Avalanche started becoming popular as well.
Dec, 13, 2023
1 min read
by CryptoRank
Avalanche, the New Public Favorite

In just one month, the AVAX token grew by more than 300%. And many projects of the ecosystem showed even more gains. As of December 12, AVAX is trading at $39.5 and has entered the top 10 cryptocurrencies by market capitalization, the figure standing at $14.5B.

Trading volumes on the blockchain reached values of $450M on December 11, which was a record. Another record was set for the number of active users—140 thousand.

The TVL of the blockchain grew from $574M to $915M over a month, i.e. by almost 60%.

GameFi Trend: Shrapnel Leading the Way

One potential narrative for Avalanche blockchain could be GameFi due to its low-cost and speedy transactions. The current leader of the trend is Shrapnel.

It is a futuristic multiplayer AAA shooter. The SHRAP token launched just a month ago and is already up 400%. However, the capitalization is only $100M. Being a flagship game on Blockchain, it seems that it’s certainly not the limit. The participation of Tier 1 funds is also worth noting: in October 2023, the project closed a Series A round of $20M, with Polychain Capital, IOSG, Franklin Templeton Investments, and others.  

Avalanche's RWA Narratives and Major Partnerships

Another important narrative on Avalanche is RWA. In November, Avalanche began partnering with JPMorgan, Republic, and Citi Group. Institutions are increasingly trusting Avalanche.

It will be worth keeping an eye on Domani Protocol, especially after their recent partnership with Deutsche Bank. It is a platform for managing tokenized portfolios of various crypto assets. The Domani Protocol DEXTF coin has a small capitalization of $17M and a nice price of $0.273.

Avalanche, like Solana, was the leader among other blockchains in fundamentals in November 2023. Thanks to a strong news background and ongoing consolidation, AVAX has once again made people remember itself.

 

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