Avalanche’s Price Growth Of 504% Is Determined By 3 Factors

Avalanche’s price growth of 504% is determined by a few very important factors that we are going to talk about some more in today’s altcoin news.

The Avalanche Foundation launched sustained ecosystem support for the blockchain and launched Rush which is a $180 million liquidity mining incentive program that was the first reason for the price rise. The project’s incentive mechanism ramped up and the native lending project launched a $3 million liquidity mining incentive program as well rewarding AVAX and Qi for all users that borrowed on Benqi that became the highest TVL protocol on the chain in less than a week.

The foundation re-launched a $200 million fund which will be used to incentivize four major aspects of the ecosystem while seeking other emerging applications and Avalanche’s support for the project included equity investments in various forms of business and technical development as well as ecosystem support. Avalanche is expanding the external ecosystem as well. The well-known e-commerce platform Shopping.io announced support for AVAX to shop on Amazon, eBay, and Walmart with a 2% discount in some areas.

Avalanche is also a proof of stake chain with a prominent difference from other blockchains as the adoption of three core chains and each of these chains takes on a different role by using different data structures. Used for trading and creating assets and it has a fast transaction speed. The x-chain allows users to create and trade assets in other instances. The C-Chain or the contract chain is made for deploying and interacting with smart contracts. Since the chain supports the EVM, It is fully compatible with the smart contracts on Ethereum and the users prefer it for mining and lending. The P-chain or platform chain supports creating subnets and creating blockchains.
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With this mechanism, Avalanche is able to increase the transaction speed on the chain with a TPS of over 4500 while the cheaper transaction fees make it superior to Ethereum.

Finally, another one of the important factors is that Avalanche has a developer-friendly dapp ecosystem. The EVM makes it easy for developers to migrate dapps to Avalanche and unlike other blockchains which focus more on their dapps, Avalanche deploys early on and brings the leading protocols on Ethereum which means it gets more attention. Avalanche’s own protocols grew rapidly under various incentives as well. The number of protocols that exceed $100 million in TVL rose rapidly from 4 to 12 in November and five of them exceed $1 billion. Avalanche’s price growth could even continue to expand in the near term.