Avalanche (AVAX) is about to flip Ethereum (ETH) in transaction volume

Alex Dovbnya

Avalanche has grown enormously in recent months

According to data shared by Emin Gun Sirer, CEO of Ava Labs, the smart contract platform Avalanche processed 1.1 million transactions as of January 27.

It has now reached 96% of Ethereum’s payload, which is closer to the market leader.

According to data from DefiLlama, Avalanche is the fifth largest smart contract platform with a total value of $8.17 billion (TVL).

According to Messari, in the fourth quarter of 2021, the blockchain had an average of 475,000 daily transactions. Ethereum, on the other hand, averaged 1.25 million transactions per day. The company notes that the blockchain is attractive to “fee-sensitive” users:

Given this rapid adoption, Avalanche becomes an attractive platform for upcoming projects that want to maintain EVM compatibility while attracting cost-sensitive users.

In his most recent tweet, Sirer noted that the average fee for a swap operation on Avalanche is $0.23, compared to Ethereum’s $62.

In some follow-up tweets, he also dismissed concerns about the perceived decentralization of the blockchain, claiming that the Ethereum blockchain is produced by a small number of pools.

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