{"id":490944,"date":"2022-05-20T08:53:09","date_gmt":"2022-05-20T08:53:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=490944"},"modified":"2024-06-11T14:20:00","modified_gmt":"2024-06-11T14:20:00","slug":"avalanche-crumbles-more-than-16","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/avalanche-crumbles-more-than-16\/","title":{"rendered":"Avalanche Crumbles More Than 16% As Crypto Landslide Continues"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Avalanche (AVAX), dubbed the &#8220;Ethereum killer,&#8221; has plunged to more than 16% following the disastrous crypto market scenario. Other crypto tokens that are also competitors to Ethereum have had massive double-digit losses in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400\">AVAX, considered the 13<\/span><span style=\"font-weight: 400\">th<\/span><span style=\"font-weight: 400\"> biggest cryptocurrency with a market cap of $7.6 billion, has dramatically sloughed off over 16% of its TVL in the past few hours, and is now trading at $27.94.<\/span><\/p>\n<h2><b>AVAX Treading The Bearish Path<\/b><\/h2>\n<p><span style=\"font-weight: 400\">AVAX is leading the bearish action, which has placed the token down by 80% compared to its all-time high, which registered an impressive $146.22 in November 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The downward trend is triggered by the sluggish growth of different DeFi projects hedged on Avalanche.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Suggested Reading | <a href=\"https:\/\/uniquehot.com\/news\/ripple\/ripple-xrp-struggles-to-breach-0-45-level-down-16-in-last-7-days\/\">Ripple (XRP) Struggles To Breach $0.45 Level, Down 16% In Last 7 Days<\/a><\/em><\/strong><\/p>\n<h2><b>Avalanche \u2013 Ethereum Rival<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Ethereum is said to be slow and expensive in pricing, which paved the way for the creation of Avalance, which is eco-friendly, fast, and affordable.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Avalance was created by Ava Labs, co-founded by Kevin Sekniqi, Emin G\u00fcn Sirer, and Maofan \u201cTed\u201d Yin.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Ethereum-killer, Avalanche, is a blockchain that combines the trailblazing speed in confirmation times plus scaling capabilities using the Avalanche Consensus Protocol, which can process over 4,500 transactions per second (TPS).<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/Jh2CU4EZ\/\" width=\"1824\" height=\"870\"><\/p>\n<pre style=\"text-align: center\">AVAX total market cap at $8.98 billion on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">Avalanche went live and was launched in September 2020 and is considered one of the most reputable blockchains giants. Avalance now has a TVL of $11 billion, ranking it as the fourth-largest DeFI-based blockchain, following Terra and Binance Smart Chain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Avalanche has derived some protocols from Ethereum that you can experience in their DeFi ecosystem, including SushiSwap, decentralized exchange protocol, and Aave, its lending protocol.<\/span><\/p>\n<h2><b>DeFi Projects TVL Down by 8.57%<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The TVL of DeFi protocols on the Avalanche blockchain is currently down by 8.57% in the last 24 hours or at $4.74 billion. This is relatively low compared to its all-time-high TVL, which went as high as $13.7 billion on December 2, 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The dip that registered at 7.5% was pretty significant for AVAX.<\/span><\/p>\n<p><span style=\"font-weight: 400\">TraderJoe, considered the most prominent decentralized exchange on Avalanche, plunged to 12.84 % in terms of the user base. Liquidity also decreased from $982 million to $577 million in barely a month.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Suggested Reading | <a href=\"https:\/\/uniquehot.com\/crypto\/crypto-analyst-predicts-1-altcoin-will-fall-down-hard-is-it-cardano\/\">Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard \u2013 Is It Cardano?<\/a><\/em><\/strong><\/p>\n<p><span style=\"font-weight: 400\">Total active wallets found on the Avalanche network escalated to over 2.8 million yesterday, which is its all-time high. However, despite the increase in active wallets, the token still was bearish.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To make matters worse, Avalanche total transactions have also dipped to only 358,474 from 800,000 last week. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The numbers have plummeted miserably, especially if you compare the figures to its all-time high, which registered at 1.1 million daily on January 27, 2022.<\/span><\/p>\n<pre style=\"text-align: center\">Featured image from Saanich News, chart from <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Avalanche (AVAX), dubbed the &#8220;Ethereum killer,&#8221; has plunged to more than 16% following the disastrous crypto market scenario. Other crypto tokens that are also competitors to Ethereum have had massive double-digit losses in the last 24 hours. AVAX, considered the 13th biggest cryptocurrency with a market cap of $7.6 billion, has dramatically sloughed off over 16% of its TVL in the past few hours, and is now trading at $27.94. AVAX Treading The Bearish Path AVAX is leading the bearish action, which has placed the token down by 80% compared to its all-time high, which registered an impressive $146.22 in November 2021. The downward trend is triggered by the sluggish growth of different DeFi projects hedged on Avalanche. Suggested Reading | Ripple (XRP) Struggles To Breach $0.45 Level, Down 16% In Last 7 Days Avalanche \u2013 Ethereum Rival Ethereum is said to be slow and expensive in pricing, which paved the way for the creation of Avalance, which is eco-friendly, fast, and affordable. Avalance was created by Ava Labs, co-founded by Kevin Sekniqi, Emin G\u00fcn Sirer, and Maofan \u201cTed\u201d Yin. The Ethereum-killer, Avalanche, is a blockchain that combines the trailblazing speed in confirmation times plus scaling capabilities using the Avalanche Consensus Protocol, which can process over 4,500 transactions per second (TPS). AVAX total market cap at $8.98 billion on the daily chart | Source: TradingView.com Avalanche went live and was launched in September 2020 and is considered one of the most reputable blockchains giants. Avalance now has a TVL of $11 billion, ranking it as the fourth-largest DeFI-based blockchain, following Terra and Binance Smart Chain. Avalanche has derived some protocols from Ethereum that you can experience in their DeFi ecosystem, including SushiSwap, decentralized exchange protocol, and Aave, its lending protocol. DeFi Projects TVL Down by 8.57% The TVL of DeFi protocols on the Avalanche blockchain is currently down by 8.57% in the last 24 hours or at $4.74 billion. This is relatively low compared to its all-time-high TVL, which went as high as $13.7 billion on December 2, 2021. The dip that registered at 7.5% was pretty significant for AVAX. TraderJoe, considered the most prominent decentralized exchange on Avalanche, plunged to 12.84 % in terms of the user base. Liquidity also decreased from $982 million to $577 million in barely a month. Suggested Reading | Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard \u2013 Is It Cardano? Total active wallets found on the Avalanche network escalated to over 2.8 million yesterday, which is its all-time high. However, despite the increase in active wallets, the token still was bearish. To make matters worse, Avalanche total transactions have also dipped to only 358,474 from 800,000 last week. The numbers have plummeted miserably, especially if you compare the figures to its all-time high, which registered at 1.1 million daily on January 27, 2022. Featured image from Saanich News, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":490945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85951,3],"tags":[84708,9885,83347,428,6664],"class_list":["post-490944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-avalanche","category-news","tag-ava-labs","tag-avalanche","tag-avax","tag-bitcoin","tag-crypto"],"acf":[],"yoast_head":"\n<title>Avalanche Crumbles More Than 16% As Crypto Landslide Continues<\/title>\n<meta name=\"description\" content=\"Avalanche (AVAX), dubbed the &quot;Ethereum killer,&quot; has plunged to more than 16% following the disastrous crypto market scenario. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Avalanche Crumbles More Than 16% As Crypto Landslide Continues","url":"http:\/\/uniquehot.com\/news\/avalanche-crumbles-more-than-16\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/avalanche-crumbles-more-than-16\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/05\/Avalanche.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/05\/Avalanche.jpg?fit=1200%2C800"},"articleSection":"Avalanche","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ava labs","avalanche","avax","bitcoin","crypto"],"dateCreated":"2022-05-20T08:53:09Z","datePublished":"2022-05-20T08:53:09Z","dateModified":"2024-06-11T14:20:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Avalanche Crumbles More Than 16% As Crypto Landslide Continues\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/avalanche-crumbles-more-than-16\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/avalanche-crumbles-more-than-16\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/Avalanche.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/Avalanche.jpg?fit=1200%2C800\"},\"articleSection\":\"Avalanche\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ava labs\",\"avalanche\",\"avax\",\"bitcoin\",\"crypto\"],\"dateCreated\":\"2022-05-20T08:53:09Z\",\"datePublished\":\"2022-05-20T08:53:09Z\",\"dateModified\":\"2024-06-11T14:20:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/05\/Avalanche.jpg?fit=1200%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/490944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=490944"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/490944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/490945"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=490944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=490944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=490944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}