Messari, a leading crypto analytics firm, says that Avalanche (AVAX), which claims to be the fastest smart contracts platform in the blockchain industry, is trailing the leading altcoin Ethereum (ETH) in terms of daily transactions.
Ambitious forecast for Avalanche: It can pass leading altcoin project
Digital asset research firm Messari reported in a new blog post that Ethereum averaged around 1.17 million transactions per day in the first quarter of 2022. states. According to the crypto research firm, Avalanche caught 74% of the Ethereum average in the first quarter and may surpass it in the second quarter. Messari notes:
With incentive programs put on hold and subnets on the way, Avalanche will have an interesting opportunity to overtake Ethereum in the coming quarter. According to
Avalanche, subnet refers to subnetwork, which is a dynamic set of validators that work together to achieve consensus on the state of a set of Blockchains. Messari also predicts that Avalanche’s transaction fees will drop in the second quarter, thanks in part to a major Avalanche upgrade called Apricot, and considers the issue as follows:
With later versions of Apricot, transaction fees have since stabilized and average 0 per transaction. It was .67 dollars. Apricot aims to facilitate verifiable pruning, a process by which nodes can securely squeeze past transactions.
According to Messari, Apricot has a fee mechanism that ensures transaction costs are low and predictable for users. However, while stable, transaction fees are trending upwards in line with daily transactions. Messari expects average transaction fees to continue stabilizing and trending downwards with more anticipated releases of Apricot.
Avalanche (AVAX), which ranks 10th in terms of market capitalization according to CoinMarketCap data, was trading at $77.36 with an increase of 1.07% on a daily basis at the time of writing. The altcoin, with a market capitalization of approximately $21 billion, is 46.68% away from the all-time high of $146.22, which it saw about 5 months ago, as we reported on Kriptokoin.com.
8688
