After USDC, the second largest stable crypto asset, was integrated into the Avalanche network, the platform's native token AVAX has been on the rise.

It is thought that the entry of USDC, which is traded as a stable crypto asset of Circle, known for its activities in the DeFi ecosystem, to the Avalanche Blockchain may cause an increase in dApp projects in the ecosystem. Apart from Avalanche, USDC is also present on Ethereum, Solana, Stellar, Tron, Algorand and Hedera Hashgraph networks.

The Avalanche network launched the incentive program this summer with the “Avalanche Rush” project, with $180 million in support. Since August, it is known that decentralized applications on Blockchain have increased more than 30 times.

AVAXUSDT_2021-12-15_18-09-07

On the other hand, according to information from DeFi measurement sites, the total value of locked assets (TVL) in DeFi projects on the Avalanche network has reached 11 billion dollars. The record TVL was $13.79 billion recorded on December 2.

The smart contracts platform Avalanche, which is used to develop decentralized applications and private Blockchains with different uses, is a Blockchain network that tries to stand out with its low transaction fees and network speed.

BankOfAmerica

Bank Of America Sees AVAX as Serious Competitor of Ethereum

An assessment of AVAX came from Bank Of America, one of the largest banks in the USA. A recent report by Bank Of America highlighted that AVAX is a serious competitor to Ethereum with its scalability, smart contract capability, DeFi projects built on it, and other assets such as NFT and gaming. More than 380 projects installed on the network have increased adoption of Avalanche, the report said.

   “With around 4500 transaction verifications per second, it offers faster verification and lower cost than alternative blockchains. The total value locked into Avalanche and held in projects increased by 21% monthly. The increase since August has exceeded 6255 percent.”

There are nearly 100 projects in the Avax network. According to these projects categories; DeFi, Digital Securities, Ecosystem, Exchange, Traveler, Identity, Payments, Play to Win, Security, Stable Coins, Team, Trading Bot, Wallet, Asset Management, Infrastructure and NFT nodes.