Crypto research firm Messari stated that the daily number of transactions recorded on the Avalanche (AVAX) blockchain significantly approaches the daily transaction numbers recorded on the Ethereum (ETH) network. In addition, Messari stated that there may be a serious decrease in transaction fees on the Avalanche network with important updates to the network in the future.
Messari stated that the number of daily transactions recorded in Avalanche (AVAX) significantly approached the number of daily transactions recorded on the Ethereum (ETH) network in the first quarter of 2022. Pointing to the current data, Messari pointed out the increase in the number of daily transactions, and also stated that in the current situation, Avalanche (AVAX) may surpass Ethereum (ETH) in the second quarter of 2022 as the number of daily transactions.
Messari added that although transaction fees on the Avalanche (AVAX) network show an upward trend compared to daily transactions, with significant updates to the network, transaction fees may also decrease significantly.
Avalanche (AVAX), which has started to record downward price movements in recent weeks with the downward trend in the market, has lost an average of 8% in the last 1-week time frame. Avalanche (AVAX) faced a buy-side reaction from the $73 price levels during the week. With the effect of the current downward trend and high volatility in the market, Avalanche (AVAX) started trading at $77 price levels after the last price movements it recorded.
According to CoinGecko data; Avalanche (AVAX) is trading at $77.64 at the time of writing, with a 24-hour trading volume of $304,939,051. Avalanche (AVAX) price has increased by 3.0% in the last 24 hours. There is a circulating supply of 270 Million Avalanche (AVAX) coins, with a total supply of 378 Million Avalanche (AVAX). Avalanche hit an all-time high price level of $144.96 on Nov 21, 2021 (5 months ago).