The president of Ava Labs, the team behind layer-1 blockchain Avalanche (AVAX), says that he’s optimistic about Ethereum (ETH)-based exchange-traded funds (ETFs). In a new interview with Bloomberg Television, Ava Labs president John Wu says that over time, Ethereum ETFs will find success due to the competitive nature of the decentralized finance (DeFi) sector. “I […]
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The crypto giant Grayscale has launched a new trust for the layer-1 Ethereum (ETH) competitor Avalanche (AVAX). Rayhaneh Sharif-Askary, Grayscale’s head of product and research, says Avalanche has played a “pivotal role” in advancing the adoption of real-world asset (RWA) tokenization. AVAX shot up in price by 5.65% on Thursday, outpacing the broader crypto market, […]
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Avalanche price gained 16%+ in the last week, but are positive media headlines enough to sustain the AVAX rally?
After spending nearly six months in a downtrend, AVAX price looks to be in the early stages of a trend reversal. On Aug. 5, it traded at $17.29, its lowest price in nine months. Over the past two weeks, the altcoin has reversed course with a 45% gain to $25.25.
While AVAX’s flash crash under $18 was mirrored by most altcoins which also sharply sold off during Bitcoin’s (BTC) Aug. 18 correction to $49,500, AVAX has been a laggard versus the wider market since topping out at $65 on March. 18.
Positive news could be partially responsible for the recent uptick in the AVAX price. This week, AVAX investors zoomed in on the Avalanche token unlock schedule and noted that a sharp reduction in the number of token unlock events occurs after the end of 2024. Many investors believe that token unlocks generate sell pressure and deter the various types of long-term ecosystem development that support value accretion to the token.
The X account of Ava Labs’ operating chief, Luigi D’Onorio DeMeo, has been touting memecoins and other suspicious links, prompting many to warn it's likely a phishing scam.
Ava Labs’ chief operating officer, Luigi D’Onorio DeMeo’s X account, is suspected of being hacked after posting about a newly launched Pokémon-themed memecoin and links to suspicious airdrops.
Two of the posts on Aug. 19, which have now been deleted, shared the address to a Solana-based memecoin called Pika (PIKA) — styled after one of the media franchise’s central characters, Pikachu — in an apparent pump-and-dump scheme.
Many crypto users on X have posted warnings not to click or follow any links.
A widely followed crypto believes that Solana (SOL) can reasonably climb by more than 850% before the current cycle expires. Pseudonymous analyst Kaleo tells his 643,700 followers on the social media platform X that Solana appears to be mirroring the price action of Ethereum in late 2020 just before ETH skyrocketed to its all-time high […]
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Macro guru and Real Vision CEO Raoul Pal is highlighting one smart contract-enabled blockchain token that he believes has potential. Pal tells his one million followers on the social media platform X that the native token of the layer-1 blockchain Sui (SUI) is “starting to look very interesting from a price perspective.” “…I’m looking at […]
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The Department of Motor Vehicles (DMV) for the most populous state in the US is placing its vast and complex vehicle registration system on the blockchain. According to a new announcement from Ava Labs, the development firm behind Avalanche (AVAX) the State of California is using the chain to update its title transfer system. “What […]
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One Ethereum (ETH) rival appears primed to closely track Solana’s (SOL) latest surge, according to a popular crypto trader. The pseudonymous analyst known as Inmortal tells his 214,500 followers on the social media platform X that the smart contract platform Avalanche (AVAX) is following SOL with “muscle memory, long and strong.” The trader shares two […]
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Leading smart contract platform Ethereum (ETH) generates far more revenue from fees per year than any other blockchain. New data from crypto tracker Lookonchain reveals that the top altcoin earns $2.728 billion in fees per year, or more than twice its closest rival, Tron (TRX), which earns $459.39 million annually. Ethereum also earned just over […]
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Ethereum network volumes have soared, but a single decentralized application accounted for 59.5% of the entire network’s volume.
The Ethereum network continues to lead in the adoption of decentralized applications (DApps) regarding volumes and deposits. Although competing chains like Solana and BNB Chain benefit from lower transaction fees, which boost metrics such as unique active addresses, nothing prevents well-funded entities from inflating Ethereum’s DApp volumes.
In fact, the recent surge in activity on the Ethereum network stands apart from broader cryptocurrency market trends and even contradicts other usage metrics. While it’s impossible to confirm any manipulation, one should be aware that even with a substantial $2.4 transaction fee, figures can be distorted, particularly in decentralized finance (DeFi) applications, where deposits can exceed $1 billion.
It’s noteworthy that Ethereum was the only network among the top 20 to report an increase in volume, marking an impressive 83% growth compared to the previous week. For perspective, similar protocols such as BNB Chain, Polygon, Solana and TON experienced an average volume decrease of over 30%. Moreover, Ethereum’s 475,980 addresses pale in comparison to BNB Chain’s 1.18 million and Solana’s 1.62 million.
