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The race to overtake the top altcoin has been on for quite some time now. In fact, <\/span>Ethereum\u2019s <\/span><\/a>success over the years has led to the mushrooming of Ethreum-killers trying to disrupt the top altcoin\u2019s market monopoly.<\/span><\/p>\n Recently, according to data shared by Ava Labs CEO Emin Gun Sirer, the smart contract platform <\/span>Avalanche<\/span><\/a> processed 1.1 million transactions on January 27 reaching close to Ethereum\u2019s transaction count.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n Data shared by Sirer highlighted that Avalanche processed 1.1 million transactions reaching 96% of Ethereum\u2019s load, inching closer to flipping the market leader. He further added that the average fees for a swap operation on Avalanche were $0.23 while that on Ethereum was $62.00. The fees on Avalanche were 26856% lower than on Ethereum.\u00a0<\/span><\/p>\n Avalanche ($AVAX) processed 1.1 million transactions today, approximately 96% of Ethereum’s load. Average fees for a swap operation were $0.23 on Avalanche and $62.00 on Ethereum.<\/p>\n Let’s build together.<\/p>\n \u2014 Emin G\u00fcn Sirer🔺 (@el33th4xor) January 28, 2022<\/a><\/p>\n<\/blockquote>\n That said, data<\/a> from Messari highlighted that AVAX\u2019s average daily transactions during Q4 2021 were 475,000, while the same metric for Ethereum was 1.25 million transactions per day. Contextualizing the numbers meant that Ethereum\u2019s daily average was almost 160% more than that of Avalanche.\u00a0<\/span><\/p>\n Avalanche has further stressed that the blockchain is attractive for \u2018fee-sensitive\u2019 users as it offers lower fees in comparison with ETH which has faced considerable criticism in the past for high fees. Avalanche has also become an enticing platform for upcoming projects that aim to maintain EVM compatibility.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n While many blockchains have emerged as ETH-killers in the past, only some have managed to stay relevant. Avalanche\u2019s growth over the last year has been commendable and can be seen in its market cap growth.<\/span><\/p>\n AVAX\u2019s market cap rose from under $4 billion in August last year to an all-time high of $30 billion towards the end of last year charting close to a 650% rise.\u00a0<\/span><\/p>\n Nonetheless, Ethereum\u2019s market monopoly has been undisputed and the blockchain remains on the top, second only to <\/span>Bitcoin<\/span><\/a> with a market cap of $286 billion. That said, in terms of total value locked on chains in DeFi<\/a> ETH dominated with 507 protocols built on the chain and a total value locked of $112.37 billion.\u00a0<\/span><\/p>\n On the other hand, Avalanche ranked 5th in terms of TVL with 153 protocols on the chain. Notably, TVL on Avalanche has dropped by 19.16% and stood at $8.18 billion at press time.\u00a0<\/span><\/p>\n While a high transaction count depicted a more active and vibrant Avalanche network, AVAX\u2019s price at the time of writing was $62.46 and was down 4.55% in the last 24-hours and 16.14% in the last one week.\u00a0<\/span><\/p>\n Ethereum too was down 3.13% over the last day and 15.75% in the last week and traded at $2,381.62 at press time. Notably, the global crypto market cap stood at $1.65 trillion and saw a 0.53% decrease over the last day. Bitcoin\u2019s gains in the near future could aid altcoins\u2019 recovery but for the time being, most of the market seemed to consolidate. <\/span><\/p>\n<\/div>\n<\/div>\nAvalanche to Take Over ETH?<\/h2>\n
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Ethereum Still Remains King<\/h2>\n
Where Is Price Headed?<\/h2>\n