Undoubtedly, Solana and also the Avalanche project are among the most significant cryptocurrencies of recent days. Their growth is astounding. And it is most likely caused by strong fundamentals. But are they a good choice in terms of long-term investment?
Is it worth evaluating the Solana and Avalanche projects?
Many of you are wondering what has caused this strong rise of Solana? A few days ago, there was an important exchange in the market capitalization ranking, when Solana managed to get the tenth place, thus putting down a strong UniSwap project. However, this is still not the answer to the questions. The tremendous power of SOL is caused by the launch of the Wormhole Bridge. In addition, the Solanart NFT platform is also very popular.
From the point of view of the Avalanche project, we can also see a significant increase, which is caused by the updated development of the ecosystem. During August, the company announced an important collaboration with the AAVE and Curve networks. The merger created an Avalanche Rush liquidity incentive program totaling $ 180 million. This project is to bring other applications to the DeFi ecosystem. The Avalanche Bridge project was also the trigger for strong growth.
For many people watching the cryptocurrency market, these projects may be uninteresting and prefer BTC or ETH. The Solana and Avalanche projects certainly did not say the last word. In terms of long-term investment, it will be important what new developers of these projects can bring and how it can affect prices.
Although we can see a smaller decline in Solana in recent hours, trade volumes show strong numbers. At the time of writing, trading volumes for SOL and AVAX were at $ 2.02 and $ 1.19 billion, respectively.