According to statistics from decentralised finance tracker DeFiLlama, the Avalanche network now has over $10.57 billion in total value locked on it. Avalanche was defined as a distributed system that achieves scalability via the use of three incompatible blockchains and a Proof-of-Stake consensus method. It aspires to be the backbone of a large ecosystem of decentralised apps.
- Avalanche has risen to become the fourth-largest network by total value locked; following Ethereum, Terra, and the Binance Smart Chain.
- Avalanche (AVAX) now has a market capitalization of $8.6 billion.
- AVAX was listed on major cryptocurrency exchange Kraken last year.
- The listing comes as cryptocurrency custody provider BitGo said it will support the Avalanche network’s native token, $AVAX, as institutional interest in the network continues to increase.
Smart Contractor, a well-known cryptocurrency expert, recently stated on social media that he believes the price of AVAX is poised for a major increase.
where alts are concerned im really digging $avax.
not only did it have a very strong reaction from a very major 0.618 level but also move down from the highs was a 3 wave corrective abc.
expecting this to outperform many alts, potentially even ATH pic.twitter.com/8MbWIg0Uox
— Bluntz (@SmartContracter) February 4, 2022
According to CryptoGlobe, when it comes to decentralised finance, non-fungible tokens (NFTs), and gaming, analysts believe Avalanche might be a viable alternative to Ethereum (ETH).
 finally reached the USD10 billion mark in total value locked (TVL) on its decentralised financial apps.){kind=link}