Avalanche is rapidly taking market share away from Ethereum and has attracted significant funding, which it uses to bolster its ecosystem, JPMorgan recently told investors.

“Avalanche has a vibrant ecosystem similar to that of Ethereum a few years ago,” says ElDeeb. “Of [nearly] Locked in at $10 billion in total value, Avalanche has more than 100 decentralized applications spanning DeFi, gaming, and NFTs.

The emergence of Avalanche dApps, she adds, is widely attributed to the native programming language’s compatibility with the Ethereum Virtual Machine (EVM), a calculator that is at the heart of Ethereum’s operational fabric and enables execution and smart contract implementation.

In addition, gas rates on Avalanche are significantly lower than on Ethereum, which removes another barrier for existing Ethereum developers. (Users must pay a gas fee to run a function on the Ethereum blockchain.)

Avalanche has proven to be a solid project, said Ed Hindi, chief investment officer of Tyr Capital, a Swiss-based cryptocurrency hedge fund. “The recent performance is a vote of confidence from a wide range of smart crypto players.”

The Avalanche blockchain is relatively young compared to the largest L1 network, Ethereum, so software bugs can arise, as was the case with Bitcoin and Ethereum in their early days. For that reason, “the investor time frame for Avalanche should ideally be at least five years,” ElDeeb states.

Is AVAX a good investment in 2022?

AVAX is now among the top 10 cryptos by market cap. Crypto experts see it as one of ether’s most serious rivals.

“We believe 2022 will be a strong year for crypto,” Hindi says, adding that investing in the top 10 projects, including Avalanche, is “one of the safest ways to capitalize on crypto momentum.”

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