Avalanche (AVAX) Keeps Hitting New Records

by in Cryptocurrency News

Avalanche AVAX new records

The native coin of the Avalanche blockchain, AVAX hit a new all-time high of $146.22. In the last 7 days, the price went up by around 40%.

Related: Avalanche (AVAX) Crossed the $100 Milestone

At the moment, AVAX is the 10th largest crypto, with a market cap of over $29.7 billion. Thus, the coin got ahead of Dogecoin, which has a market cap of $29.5 billion. As can be seen, the numbers are quite close. Whether AVAX will secure the place or not depends on the performance of the tokens. The Avalanche protocol has been progressing at a fast rate, seeing increasing adoption.

Data from decentralized finance tracking platform, DeFi Llama revealed that in the previous 7 days, Total Value Locked in Avalanche grew by over 17.5%, setting a record high of over $12.4 billion. The leading protocol based on Avalanche is the swapping platform Trader Joe.

In terms of TVL, Avalanche currently ranks the 4th coming after Ethereum, Binance and Solana. On November 16, major financial company Deloitte announced partnering with Ava Labs to use Avalanche's technology for its disaster recovery platform.