Avalanche (CCC:AVAX-USD) is one of the most underrated altcoins, if you take into account its competitive market capitalization. The network is a member of an elite club, being one of the biggest cryptocurrencies on the market. The ecosystem promises “blazingly fast” transactions and lower fees than any of its peers can offer. And today, amidst a market-wide rally of altcoins, Avalanche is one of the biggest gainers. Investors are now seeking out Avalanche price predictions to see if the AVAX coin is built to last.
Through the Avalanche network, users are invited to do most anything other ecosystems offer. One can trade AVAX on decentralized exchanges (DEXs), stake liquidity pairs for passive yield, buy non-fungible tokens (NFTs) and borrow or lend assets for real-world application. The network doesn’t just offer these services to keep up with the pack, mind you; the developers claim Avalanche can do all of these things better than anybody else.
Avalanche claims to accommodate thousands more transactions per second (TPS) than Ethereum (CCC:ETH-USD) or Bitcoin (CCC:BTC-USD). TPS is a benchmark statistic for a blockchain; it demonstrates a chain’s ability to work under stress, and as it increases popularity, it will have to prove this ability by processing as many transactions as users demand.
Avalanche’s TPS sits on the higher end of blockchain transactional output, among the likes of Polkadot (CCC:DOT-USD) and Solana (CCC:SOL-USD). Additionally, Avalanche claims it can provide the lowest fees available to users, thanks to its proof-of-stake algorithm, CPU-optimal mining efficiency, and thousands of validator nodes to make transaction times lightning-fast. These performance promises are allowing Avalanche to grow into one of the largest networks available; it boasts a nearly $17-billion market cap, putting it just behind meme-coin favorite Dogecoin (CCC:DOGE-USD).
Avalanche Price Predictions Surge After Altcoin Rally
The AVAX coin is having a great day as a result of the recent altcoin trading spree investors have found themselves in. As of this morning, the coin is up over 21%, placing it at over $76. Investors are now looking into whether Avalanche can sustain this growth and break into the top 10 largest cryptos. Let’s take a look at some Avalanche price predictions and see what analysts think of AVAX’s future:
- WalletInvestor believes AVAX has plenty of room to grow. In its 12-month prediction, the site forecasts a price of $95.32 for the coin.
- Gov Capital boasts a much more bullish prediction than its peer. The outlet says that in the next year, AVAX will soar to an all-time high twice as large as current values, $162.77.
- The Economy Forecast Agency says AVAX is priming itself to break through the $100 mark before the end of the year. It predicts the coin will see a $105 valuation before December is through.
- In the more immediate short term, FXStreet says a bearish turn could rock current gains. The site’s analysis suggests AVAX could be due for a downturn to $47.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.