• Despite low global trading volumes, Avalanche and Polkadot are on the rise

  • Sunday is equivalent to the Sabbath in terms of crypto trading. However, cryptocurrencies Avalanche and Polkadot have risen to the top of the crypto market capitalization rankings.

    Despite low global trading volumes, Avalanche and Polkadot are growing in popularity.

    Avalanche was the sixteenth largest cryptocurrency by market cap yesterday, according to data aggregator Nomics.

    It has risen six positions to fifteenth today, setting a new all-time high price of $61.44, or 23.89 percent higher than yesterday.

    Avalanche, which was released in September of last year, is marketed as “blazingly fast, low cost, and eco-friendly” by developer Ava Labs.

    Avalanche, like Ethereum, is a smart contracts platform, which means that developers can use its self-executing code to create a plethora of decentralized exchanges and non-custodial lending apps on the blockchain.

    Avalanche, according to Ava Labs, can process 4,500 transactions per second, which is significantly more scalable than Bitcoin’s 7 and Ethereum’s 14.

    Avalanche is also less harmful to the environment than Bitcoin and other proof-of-work consensus techniques that use a lot of energy to confirm transactions.

    Under Avalanche’s proof-of-stake architecture, anyone who invests at least 2,000 AVAX ($122,880) can execute transactions and mine AVAX.

    Polkadot has also risen from tenth to ninth place in terms of market capitalization among the top cryptocurrencies.

    Polkadot rose 8.48 percent overnight, reaching a new high of $33.52.

    The market leaders, Bitcoin and Ethereum, are currently trailing.

    Polkadot is a proof-of-stake cryptocurrency that, like Avalanche, allows blockchains to communicate with one another.

    Unlike Avalanche, Polkadot does not natively support smart contracts on its primary relay chain, but it does on so-called parachains.

    The market leaders, Bitcoin and Ethereum, are currently trailing. The value of the world’s most popular cryptocurrency is currently $46,215c, a 1% increase over yesterday’s value.

    Meanwhile, the original smart contract blockchain’s currency, Ethereum, is now worth $3,437, up 3.21 percent from yesterday.

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