Avalanche (AVAX) Overtakes Dogecoin (DOGE) As Ninth-Largest Crypto By Market Cap

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The Avalanche (AVAX) network has been outperforming the leading meme-inspired cryptocurrency by market capitalization Dogecoin (DOGE), to the point it has now become the ninth largest digital asset by the metric, with a $14.1 billion market cap.

According to available market data, AVAX is up एक से अधिक 44% over the past week to now trade at $38.5, as it significantly outperformed most other major digital assets, including Bitcoin, which lost 3% of its value over the same period, and Ethereum, which lost 1.7% of its value.

The meme-inspired cryptocurrency Dogecoin lost 0.8% of its value over the last few days and now has a $13.6 billion market capitalization, making it the tenth-largest digital asset by the metric above TRON’s TRX, which has a $9.32 billion market cap.

Avalanche’s surge comes at a time in which the number of large transactions on its network is on the rise, with IntoTheBlock noting that last week it saw over 1,000 transactions above the $100,000 mark.

बड़ी संख्या में $ AVAX लेन-देन बढ़ रहा है, पिछले सप्ताह $1000k से बड़े लगभग 100 लेन-देन के शिखर पर पहुँच गया है। हालांकि यह अभी भी पिछले तेजी बाजार के स्तर के करीब नहीं है, लेकिन यह तेजी के लिए एक सकारात्मक संकेत है। pic.twitter.com/PRGpsewWg2

- IntoTheBlock (@intotheblock) दिसम्बर 11/2023

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Notably, Dogecoin has also recently been seeing growth, which seemingly hasn’t translated into its price. The meme-inspired cryptocurrency recently saw the total number of addresses on its network with a संतुलन 5 मिलियन मील के पत्थर को पार कर गया. इस बीच, नेटवर्क पर सक्रिय पतों की संख्या दोगुनी से अधिक होकर 168,000 तक पहुंच गई है, जो पिछले साल मार्च के बाद से उच्चतम स्तर है।

The rise came after a “massive amount” of older DOGE started moving out of wallets that has been dormant, in a sign that the price of the meme-inspired cryptocurrency could soon move upward.

Earlier this year, Avalanche announced a new partnership that was set to see it onboard up to 50 million new users into the cryptocurrency space. The partnership, with leading esports live-streaming platform Loco, which was building a suite of Web3 products, came after the platform raised $42 million in a Series A round.

के माध्यम से चित्रित छवि Unsplash.