If You Don't Get Out Of Its Way - It'll Just Run You Over!
AVAX is one of those chains that just “have it”. They have a lot going on and they have a lot of very talented people behind them. Talented people with a healthy budget can really do wonders in this field, especially in the Crypto/DeFi space.
Avalanche operates as a platform, like Ethereum and Bitcoin. In the world of Crypto, one of the biggest factors for success in the future is the ability to scale. This has been a debate since the Bitcoin Whitepaper was released back in 2009. Avalanche is taking this challenge head-on.
TPS while remaining SECURE is always the Problem.
As you can see in the picture above, Bitcoin can handle around 3-7 Transaction Per Second or TPS. Ethereum on the other hand can push about 10-14 TPS. Not seen in the chart is Ripple Network (the chain that uses the XRP Token) and they sit around 1000 TPS. PolkaDot, another fast mover and garnishing a lot of attention lately can handle 1500 TPS. EOS is also not shown on the chart and they can hit around 3000 TPS. Avalanche can handle over 4500 TPS. Some papers say 6000 TPS but more will be known when there is more adoption onto the platform in order to stress the chain.
What is not shown as well is the REAL COMPETITION. VISA/MASTERCARD. Mainstream usability cannot be fully realized until a Crypto Chain can scale to that of the major retail monsters. VISA can push 24,000 TPS. So there is still a lot of work to be done.
As for the Technicals
On todays Daily Candle – 11-04-21, AVAX broke its recent ATH that was set 42 Days ago at the level of $79.60. The new current ATH is $80.54. This is on the heels of a 5-day rise of 34%.
Now 34% may not seem like much when we see SAND and MANA put 100% candles but they also had a massive Facebook push and a swarm of fundamentals come rolling in. AVAX has no news, no flashy NFTs, and No METAverse to lean on. This is just straight action from the charts on a coin that shows a lot of promise.
We have a level we like near $92. That should provide some resistance and let the coin cool off for a little while as these coins tend to make a high and back down from it for a little while, just as it did 42 days ago. However, we have also seen attention flyers ignore logic and only give slight pullbacks. Our second area of resistance sits at around $142 and would indeed be a big move for the platform token.
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