MultiversX Tracker is Live!

Avalanche vs Cardano: Which is a better buy between AVAX and ADA?

CoinJournal

Cryptocoins News / CoinJournal 166 Views

Avalanche and Cardano are some of the biggest Ethereum-killers around. Their goal is to create an alternative to Ethereum that is both fast, cost-effective, and highly scalable. As a result, the two have seen their market cap jump to billions of dollars. In this Avalanche vs Cardano comparison, we will explain the better one to invest in.

The case for Avalanche

Avalanche is a leading blockchain that is developed by Ava Labs. The network is known for its blazingly fast speeds that beat Ethereum and other networks. Avalanche can handle as many as 4,500 transactions per second (TPS). 

Avalanche has been used widely by developers to build applications in all industries. For example, its DeFi platform has over 200 applications that have a combined total value locked (TVL) of over $10 billion.

Avalanche has unveiled several projects to grow its ecosystem. For example, it is currently implementing Avalanche Rush, which is a multi-million dollar incentive program. It is also running another fund that aims to provide resources to metaverse creators.

Therefore, Avalanche is a better investment because its network is already stable in terms of the number of apps in the ecosystem. It is also growing rapidly as more developers have embraced the network.

On the daily chart, we see that the AVAX price has been in a strong bearish trend in the past few months. It remains slightly below the 25-day and 50-day moving averages while oscillators have continued dropping. 

Therefore, in the near term, there is a likelihood that the Avalanche price will continue dropping. In the long term, the coin will bounce back.

The case for Cardano

In most cases, Avalanche is better than Cardano. For one, Cardano was started in 2015 while Avalanche’s mainnet went live in 2020. Yet, Cardano has a market cap of $27 billion while Avalanche is valued at $18 billion. 

Another notable factor is that Cardano’ ecosystem is significantly smaller than that of Avalanche because the developers launched their smart contracts in 2021. While Avalanche has a TVL of $10 billion, Cardano has just ten DeFi applications and a TVL of more than $203 million.

Therefore, based on these statistics, it is clear to say that Avalanche is a better investment than Cardano. However, it could also mean that Cardano has a longer runway for growth considering that its network is in a growth phase.

On the daily chart, we see that the ADA price gas formed a descending wedge pattern. Therefore, there is a likelihood that the coin will bounce back. Still, in my view, Avalanche is a better buy than Cardano. Here’s how to buy Cardano.


Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments