{"id":6043,"date":"2022-01-26T21:59:19","date_gmt":"2022-01-26T21:59:19","guid":{"rendered":"http:\/\/egrowonline.com\/?p=6043"},"modified":"2022-01-26T21:59:19","modified_gmt":"2022-01-26T21:59:19","slug":"this-ethereum-competitor-is-likely-to-break-into-the-top-5-crypto-assets-by-market-cap-according-to-coin-bureau","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=6043","title":{"rendered":"This Ethereum Competitor Is Likely To Break Into the Top 5 Crypto Assets by Market Cap, According to Coin Bureau"},"content":{"rendered":"


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The host of popular crypto channel Coin Bureau says that one Ethereum (ETH) competitor could surge into the top five crypto assets by market cap.<\/p>\n

In a new video<\/a>, the pseudonymous analyst known as Guy tells his 1.9 million YouTube subscribers that layer-1 smart contract platform Avalanche (AVAX) is set to compete with bigger crypto assets that sit above it in terms of market cap.<\/p>\n

\u201cIt\u2019s possible if not likely that Avalanche could crack the top five, especially since some of the cryptocurrencies in its way are of a lesser caliber, to put it mildly.\u201d<\/em><\/p>\n

Guy says that despite the recent crypto market correction, AVAX\u2019s price remains in a macro uptrend due to rising consumer demand<\/a> and ease of accessibility of its C-Chain, which is the default smart contract blockchain on Avalanche. The analyst says it\u2019s a bullish sign for AVAX.<\/p>\n

\u201c[Avalanche] remains in a clear uptrend despite the massive crypto market dip we\u2019ve seen over the last few months. This is for one simple reason, and that\u2019s demand.<\/em><\/p>\n

According to DappRadar, Avalanche\u2019s C-chain has around half a million monthly active users which is not too shabby at all. The number of daily transactions on the C-chain has also been on a relentless rise.<\/em><\/p>\n

Besides the C-chain\u2019s EVM (Ethereum Virtual Machine) support, Avalanche\u2019s amazing adoption is likely because [of] Binance and Coinbase support withdrawals and deposits directly from and to the C-chain. This makes Avalanche very accessible to the average crypto holder.\u201d<\/em><\/p>\n

According to Guy, Avalanche growing large enough to challenge Ethereum is not off the table.<\/p>\n

\u201cRight now, AVAX seems to be focused on DeFi (decentralized finance), and that\u2019s all well and good, but that\u2019s a very crowded neighborhood\u2026<\/em><\/p>\n

That said, the trends are in Avalanche\u2019s favor and if it continues the way it has, it could become big enough to challenge Ethereum.\u201d<\/em><\/p>\n

Avalanche<\/a> is changing hands at $70.20 at time of writing, a 19.5% decrease from its seven-day high of $87.37.<\/p>\n