Where Can I Buy Avalanche Crypto

Avalanche
(AVAX
-0.20%)
used to be highly touted as an Ethereum killer, but it has had a dreadful 2022. Down 88% year to engagement, Avalanche is rarely mentioned as a potential Ethereum challenger. In fact, Avalanche was actually 1 of the worst-performing cryptos of the year.

However there’south good reason to think that Avalanche might be able to rebound side by side year. Here’s a closer look at three good reasons why AVAX might surprise crypto investors and deliver superior returns in 2023.

FTX contagion fears overblown

Start and almost importantly, Avalanche had no significant exposure to the failed crypto commutation
FTX
(FTT
0.98%). Equally the Barrage team pointed out in the days subsequently the FTX meltdown, Barrage had no directly dealings with FTX, hedge fund Alameda, or one-time FTX Chief Executive Officer Sam Bankman-Fried. While Avalanche acknowledges that information technology did have a “limited” amount of funds on the FTX exchange that it might never recover, information technology was not direct affected by the FTX implosion. For that reason, investors might be unfairly punishing Avalanche, as they go on to be spooked by FTX contagion fears.

Underlying blockchain fundamentals

Investors have never questioned the underlying technology at Avalanche, which tin exist thought of as a faster, cheaper, and more scalable version of
Ethereum
(ETH
-0.25%). Avalanche bills itself as the fastest smart contracts platform in the world, and it has been superior to Ethereum in terms of transaction processing speeds ever since its launch in 2020.

When Ethereum was notwithstanding a slow proof-of-work blockchain in 2021, investors were eager to find the “next Ethereum,” and Barrage e’er seemed to exist part of that discussion. Withal, Ethereum’s conversion into a faster, more efficient proof-of-stake blockchain this year every bit function of The Merge seems to have cooled investor sentiment on Avalanche.

The good news is that while investors might accept deserted Barrage, users and developers have not. Overall blockchain activity at Avalanche seems to be increasing significantly. Most notably, total transaction activity is manner upwardly. On Nov. 21 — nearly two weeks later the FTX news broke — Avalanche announced that information technology had passed the 450 meg cumulative daily transaction mark. By fashion of comparison, one year agone, Avalanche was processing only 28 one thousand thousand transactions.

Moreover, the Avalanche team continues to provide updates about the significant growth in both daily and monthly active users. Once again, the long-term trend is up. That has translated direct into a growth in new partners who volition exist using the Avalanche blockchain in the future. The latest win is the first-ever decentralized insurance marketplace for the Avalanche blockchain.

New channels of growth

Some other positive sign is that Avalanche continues to diversify abroad from decentralized finance (DeFi), the one area where information technology has always shown the greatest force. For case, Avalanche is now getting deep into the world of blockchain gaming. At least 10 different Avalanche gaming projects are now showing significant growth. One game, for example, saw a one,482% spike in new users in just seven days.

Irresolute market sentiment

Last twelvemonth Avalanche became a crypto darling and a highly touted proper noun in the blockchain world. This year Avalanche fell out of favor with investors. And so is 2023 the year that investors rekindle their relationship with Avalanche?

As an early on sign of changing marketplace sentiment heading into 2023, consider thatRobinhood
(HOOD
-0.50%) added support for Barrage in August, making it 1 of the cryptos that pocket-sized retail investors tin now buy via the popular trading app. Then, in early Dec, Barrage became part of the new Robinhood “larn-to-earn” crypto program, in which investors can earn Avalanche just by spending a few minutes looking through an online presentation. This is inevitably going to mean more holders of Barrage, too as more awareness of what Avalanche can offer.

Is Barrage a buy?

Yep, that’southward a tiny step forward. But remember — this is still a crypto wintertime. We tin’t expect a lot of splashy new updates or releases at a time when in that location is little or no investor ambition for risky cryptos (or, at least, cryptos that are perceived to be risky). While Ethereum is still a better long-term investment play than Avalanche, there’s a lot that seems to be going right for Barrage as nosotros turn the page on the agenda and usher in 2023.

For that reason, I’grand short-term bullish on Avalanche, and I am absolutely convinced that Barrage could surprise investors who haven’t been following this crypto’s story of sustained, organic growth in very difficult market place weather.