In this week’s Wealth Mastery Coin Review, we’ll be looking at the Avalanche ecosystem to find out what the top 5 Avalanche coins are and discuss the future of Avalanche.
- What are the top 5 Avalanche coins?
- What is the future of Avalanche?
- Avalanche & FTX Exchange
- Avalanche Network Upgrades
- Avalanche & Arbitrum
- How do you buy Avalanche coins?
- Are Avalanche coins worth buying?
What are the Top 5 Avalanche Coins?
What are the criteria for a project to make its way into this list of top 5 Avalanche coins, you may be asking? The criteria for coins on this list are not based on the price or quality of the project. For this list, we’ll focus solely on what the market considers the most used coins on Avalanche. This is based on a combination of trading activity and community support of the discussed altcoins.
Just because a coin is on this list “does not” automatically imply it’s a good coin. With concerns surrounding a few of these coins, including AVAX itself, we’ll dig into each one as they come up without an exhaustive deep dive. Avalanche (What is Avalanche) is still in its very early stages and has not yet gained anywhere near the popularity of Ethereum (What is Ethereum). Do keep this in mind when reviewing the article. It intends to educate and not motivate the purchase of Avalanche or any projects discussed.
Chainlink – LINK
While you can expect a complete wrap-up from Wealth Mastery on Chainlink before the new year, Chainlink has proven to be a vital part of the crypto markets for several years, providing Oracle services to the most popular decentralized finance projects in the market. It could be argued that Chainlink was one of the biggest proponents in the 2021 DeFi bull market, allowing proper price information to be read and verified by thousands of protocols.
Chainlink accomplished what it first set out to do in 2017. Chainlink has been one of the few reliable products in the Avalanche ecosystem, making it a requirement of this list. At the same time, Chainlink and the LINK token are not exclusive to the Avalanche network. When comparing the presence of LINK on Avalanche to the presence of LINK on Ethereum, there are some polarizing numbers. Of the almost 500 Million LINK tokens currently in circulation, slightly more than 2 Million are on the Avalanche network. This shows us that even as one of the most popular coins on Avalanche, it is mediocre at best compared to the value Chainlink is generating on other networks.
Aave – AAVE
Aave is another platform on which we haven’t gone into great detail. You can expect that to change in the coming months as we learn more about the effects of FTX on its business before a full coin review. Aave and Compound have been the go-to option for secure collateralized loans on Ethereum. Aave integrated its product with the Avalanche network almost a year ago. Becoming one of the first handful of DeFi products on Avalanche. Through the Avalanche Rush program, the Avalanche foundation allocated up to $20M AVAX for users of the Aave protocol over its first three months, allowing everyone to earn AVAX rewards for using Aave on Avalanche.
While these additional benefits have long ended, Aave has remained supportive of the Avalanche ecosystem but decided to postpone any possible upgrades to Aave V3 on Avalanche until some…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
