This explosive cryptocurrency is poised to take the place of Shiba Inu

This explosive cryptocurrency is poised to take the place of Shiba Inu
This explosive cryptocurrency is poised to take the place of Shiba Inu

This cryptocurrency is battling with Shiba Inu for 11th position in the ranking of the largest cryptocurrencies by market capitalization. If you’re on the hunt for the next Shiba Inu you shouldn’t lose sight of Avalanche.

No cryptocurrency has been as hot this year as Shiba Inu (SHIB). A cryptocurrency born out of nothing to become one of the most talked about and most traded meme coins on the market.

Shiba Inu was able to change the lives of investors who bought this coin at the beginning of the year. Shiba Inu generated a peak earnings of over 121,000,000% in less than 10 months! (not a typo). In other words, if you had been lucky enough to buy at midnight on January 1st and sell at peak on October 27th, you might have transform 10 euros into more than 12 million euros.

However, this is now a thing of the past and it is practically impossible for Shiba Inu to replicate these performances again. In recent weeks, the SHIB token price fell by more than 50%, and even though the meme coin has started to rise again in the past few hours, the long-term outlook is very bad for Shiba.

With this in mind, the investors looking for the next Shiba Inu they don’t have to work hard. Among the many cryptocurrencies present on the market today, there is an explosive coin that is battling with Shiba Inu the eleventh position in the ranking of the most precious cryptocurrencies in terms of capitalization; this cryptocurrency is Avalanche (AVAX).

Avalanche is back running

For much of this year, Avalanche has been trading at a market capitalization of around $ 5 billion or less. It proved to be a cryptocurrency big enough to attract attention but not big enough to rank as a top-tier cryptocurrency. However, Avalanche started gaining momentum in August 2021 then stabilized after a couple of months and outperformed several other cryptocurrencies based on market capitalization. Someone may have thought that Avalanche was short of strength to keep growing, however, she was just catching her breath.

Starting from early November Avalanche is back to racing and is unlikely to stop now. Avalanche got a particularly big boost after that Deloitte has decided to build disaster relief software platforms on the Avalanche blockchain. Admittedly, Avalanche’s earnings weren’t nearly as impressive as Shiba Inu’s in October. However, Avalanche has steadily climbed the list of the most popular cryptocurrencies in the world.

By comparing these two cryptocurrencies, as Avalanche skyrocketed in recent weeks, Shiba Inu was sinking. And in recent days Avalanche has been battling with Shiba Inu to become the No. 11 on the ranking as market capitalization.

Why Avalanche is so attractive

Avalanche is the brainchild of Cornell University professor Emin Gün Sirer. He is a pioneer in cryptographic research. Gün Sirer even designed a virtual currency concept six years before the release of the Bitcoin white paper

What really sets Avalanche apart from other cryptocurrencies is its architecture. Blockchains like Ethereum (ETH) face large-scale decentralization problems. This can lead to high commission costs. However, Avalanche solves these problems by incorporating three distinct but interoperable blockchains in his network.

The Avalanche Exchange Chain (X-Chain) is used to create and exchange token AVAX natives of the platform. The Contract Chain (C-Chain) allows developers to build decentralized applications using smart contracts. The Platform Chain (P-Chain) coordinates the validators for the verification of transactions and creates sub-networks (dynamic sets of validators).

Thanks to this architecture, Avalanche can process more than 4,500 transactions per second at low cost while remaining highly scalable. Perhaps more importantly, its time to finalization (when a transaction has been irreversibly added to the blockchain) is less than two seconds, much faster than other blockchains.

Unsurprisingly, developers have flocked to the platform. Now there are more than 150 projects in the Avalanche ecosystem, including crypto wallets and non-fungible token markets (NFTs).

How to invest in cryptocurrency CFDs

Per investing in cryptocurrencies (Bitcoin, Ethereum, Cardano, Solana, Dogecoin, Litecoin, etc …) there are more possibilities, but certainly the simplest one is through the cryptocurrency CFD trading.

Among the advantages of trading cryptocurrencies through CFDs is being able to trade 24 hours a day, even on weekends. Also with CFDs it is possible to ‘bet’ both upside and downside, thus having the possibility of gaining (or losing) both during the bullish and bearish phases.

Furthermore, CFDs on cryptocurrencies can count on leverage of 1: 2 for retail investors. This means that by investing € 1,000, the position on the market will be double, € 2,000. Leverage has the advantage of doubling your profits but exposes you to greater risk if prices go in the opposite direction to that chosen.

Where to invest in cryptocurrencies with CFDs

Investing in cryptocurrencies is one of the favorite activities of many people who wish to ride the enthusiastic rally of digital currencies. Thanks to CFDs, anyone can easily access the financial markets and buy cryptocurrencies (or other types of assets such as stocks, currencies, commodities, etc …), even with a small starting capital.

If you want to start investing in cryptocurrencies we recommend that you do it with a demo account, which many brokers offer for free, such as eToro (see here eToro review).

eToro offers investors, from beginners to experts, a complete cryptocurrency trading experience, on a powerful yet easy to use platform.

With eToro you can build your ideal crypto wallet, trade a wide range of excellent cryptocurrencies and cryptocurrency crosses, and follow the progress of each coin with advanced charts and analysis tools.

Don’t trade crypto alone. eToro is more than just a place to trade. Use the award-winning features of social trading to connect with over 20 million users around the world and find the best cryptocurrency traders to copy with CopyTrader ™.

By registering on the eToro website you can try the best trading platforms for free as well as being able to count on the lowest spreads in the industry and a full suite of powerful risk management tools. Included are a number of fundamental, technical, and sentiment tools to help you make the best decisions.

To find out about eToro’s offer, visit the site https://www.etoro.com/it

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CFDs are complex instruments and come with a high risk of losing money quickly due to leverage. Between 62 and 89% of retail investor accounts lose money when trading CFDs. When trading CFDs, you should consider your understanding of how CFDs work and take into account the high risk of losing your money. Please read our Risk Disclosure Statement in its entirety.
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Is Avalanche a good long-term investment?

Like many other cryptocurrencies available in the market, Avalanche’s price has fallen due to recent news of the emergence of the omicron variant of the coronavirus, however, investors should expect significant volatility in the near term.

Is Avalanche a good long-term investment? It could very well be. Of course, there are many other blockchains that are competing to take the place of Ethereum, see for example Cardano) ADA) and Solana (SOL). But Avalanche is gaining adoption and should be seen as one of the top contenders.

Avalanche Real Time Chart (AVAX)

Trade on Avalanche (AVAX) with a Regulated Broker

Invest with the help of the experts

Are you experienced enough to trade cryptocurrencies? If you are not, but you still want to take advantage of the market trend, you can delegate someone else in your place. On the trading platform eToro you can use the function copy trading, a service that allows you to choose an expert trader and automatically copy his every move. Find the best investors, click on copy and let them try to generate a profit for you too.

Stay up to date on our news

If you liked this article, share it on your social networks and follow Where to invest its Google News, Facebook, Twitter. Do not hesitate to share your opinions and / or experiences by commenting on our articles.

To stay updated on the news published on our portal, activate the notifications from the green button at the top (Follow us) or subscribe to our Telegram channel of Where to Invest

Explicit Risk Warning: We accept no liability for any commercial loss or damage due to reliance on information contained within this site, including data, quotes, graphics, and buy / sell signals. Trading on the financial markets is one of the riskiest forms of investment possible. All prices and buy / sell signals are indicative and not suitable for trading purposes, furthermore, they are not provided by an exchange, but rather by market makers, so they may not be accurate and may differ from the actual market price. We accept no liability for any commercial losses that may be incurred as a result of using this data. The text shown does not constitute consultancy by Dove Investire nor, even less, an offer or solicitation to buy or sell financial instruments. The information contained therein is in the public domain and is considered reliable, but the Dove Investire portal is unable to ensure its accuracy. All information is given in good faith on the basis of available data, but is subject to change without notice at any time after publication. We decline all responsibility for any information exposed in this publication. You are encouraged to rely solely on your own assessments of market conditions when deciding whether to enter into a financial transaction and whether it meets your needs. The decision to carry out any financial transaction is at the sole risk of the recipients of this information.
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