Step aside, Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD). Today, a popular cryptocurrency is trending on Twitter (NYSE:TWTR) and attracting the attention of investors. That cryptocurrency just so happens to be Avalanche (CCC:AVAX-USD). According to CoinMarketCap, Avalanche carries a market capitalization of $23 billion. This makes Avalanche the 11th-largest cryptocurrency based on market cap. Additionally, the AVAX crypto is roughly $3.7 billion away in market cap from tapping into the top 10 largest cryptos. But can it get there? Let’s take a look at some Avalanche price predictions to find out.
According to Avalanche’s official website, the Avalanche network is “the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality.” Furthermore, Avalanche’s team claims that Avalanche has the “most validators securing its activity of any proof-of-stake protocol.” Using the Avalanche network, developers can build high-speed decentralized applications (dapps), launch customized public or private blockchains, and utilize the platform to scale to millions of validators.
Moreover, the Avalanche network provides benefits that Bitcoin and Ethereum are unable to provide. For example, Bitcoin and Ethereum have a transactional throughput rate of seven transactions per second (tps) and 14 tps, respectively. Meanwhile, Avalanche carries a tps of over 4,500. In addition, Bitcoin and Ethereum have a transactional finality time of 60 minutes and six minutes, respectively. Avalanche trumps both of those times with a transactional finality time of under two seconds.
The AVAX crypto is up more than 6% in the past 24 hours. Could Avalanche potentially be the next crypto to take off? Let’s take a look at some Avalanche price predictions.
Avalanche Price Predictions: Where Is the AVAX Crypto Headed?
- Gov Capital has a 2022 price prediction of $308. This prediction implies a staggering upside of 226% from current prices. Gov Capital’s price prediction is based on deep learning processes that factors in technical analysis.
- CoinPriceForecast has a 2022 price prediction of $263. Impressively, this prediction represents an upside of 178%. Additionally, the prediction is based on deep learning technology that factors in inputs like time-series data, volume and coin events.
- Wallet Investor has a 2022 price prediction of $238. This prediction implies an upside of 151%. Notably, Wallet Investor’s sentiment visual signals that sentiment surrounding the AVAX crypto has been bullish the past 30 days. The website also states that a level of resistance lies at $99.62.
- Digitalcoin has a 2022 price prediction of $128. This represents an upside of 35%. Digitalcoin’s prediction was formulated using a proprietary algorithm that factors in historical data.
On the date of publication, Eddie Pan did not hold (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.