The DeFi Chronicle: 21%-74,000% APY: 4 ideas on Avalanche
The entire crypto market is erupting as Bitcoin and Ethereum scout all-time highs. And the growth is not coming at one side’s expense; Bitcoin dominance remains in the low 41% range. One of the market’s best performers over the past week is AVAX, Avalanche’s native token. I’ve been wading in the Avalanche ecosystem and it is rife with rewards, incentives, and massive projects drawing in total value locked (TVL).
Look at the graph above. TVL has gone from $312 million in August to over $10 billion at the time of writing! This ranks it as the 5th highest chain in terms of value locked. Now, check out this graph.
Notice similarities between TVL and AVAX price? And the glue to tie it all together is Avalanche’s Rush $180 million incentive program announced on 8/18.
Can Avalanche continue this mind-bending rise? It only needs an additional $5 billion in TVL to surpass the crypto market’s darling Solana. I’m not very good at making predictions, but things are starting…
