The global crypto market cap of the cryptoverse has been on shaky grounds, with a weakening of its local supports. The heavy market crash which was not seen after March 2020, has wiped out over $400 billion in market cap in just 48 hours. With no significant gains in 2021, Bitcoin and Ethereum have lost 19.25% and 26.25% over the past seven days.
Even altcoins have also been falling into prey for FUDs with considerable losses over the past couple of days. Especially Cardano has been under the bearish realm for over the past 8 months with no significant gains and is one of traders’ favorite once the market turns bullish.
Avalanche on the other hand which is relentlessly outperforming Ethereum is a must to keep under your radar in the upcoming bull cycle.
Cardano To Wake From the Sleep!
Cardano has reclaimed its 5th position by outpowering Solana with a decent margin. Looking at its recovery, veterans across the space are seen optimistic of ADA’s bull run. One of the proponents claimed that Meanwhile, Cardano daily has revealed an interesting insight that indicates the outgrowth of ADA versus Ethereum.
Compared to Ether, Cardano has achieved a huge transaction volume of $6.5 billion with reliable fees of $76.5k. Whereas Ethereum achieved a $5.8 billion transaction volume with high fees of $38.6 million. Hence, ADA has 568 times cheaper gas fees than its competitor. Once the market recovers it is likely to skyrocket breaking all the barriers.
Avalanche Relentlessly Killing Ethereum!
Avalanche has been doing pretty well in recent times being resistant to January 5th crash. However, owing to the bloodbath on the 20th January crash, Avax price has wiped out the majority of its profits. But it is one of the promising assets for the future as it has been creating a sensation in terms of developer activity and the number of transactions.
Especially on the 17th of January, AVAX surpassed 1 million daily transactions by keeping gas fees reliable and with instant transaction confirmations. However, this is 84.3% of the ETHs daily transaction processing. Hence, what actually is awaiting is the crowd sentiment, once retailers turn bullish, Avax will continue to outpower the star altcoin.
Collectively, AVAX and ADA have significantly managed to hold their above supports when compared to that of Ethereum. However, the altcoin representative is likely to face big competition post the trend reversal. If the altcoins continue their fundamental upgrades and collaborations, the top 5 will be a safe haven for these coins.