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Avalanche Is Approaching The Market Leader of Ethereum

Anna Martynova

Avalanche has shown significant growth over the past few months. Avalanche smart contract platform processed 1.1 mln transactions on January 27, according to data provided by Ava Labs CEO Emin Gün Sirer.

Now the platform load is 96% of the Ethereum load, rapidly approaching the market leader. Avalanche is the fifth largest smart contract platform with a TVL of $8.17 bln, according to DefiLlama. According to Messari, in the fourth quarter of 2021, there were an average of 475,000 transactions per day on the blockchain. Ethereum made an average of 1.25 mln transactions per day.

The firm notes that blockchain is attractive to “fee-sensitive” users. In his latest tweet, Sirer noted that the average fee for a swap operation on Avalanche is $0.23 compared to $62 on Ethereum.

Image: DeFi Rate

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