Avalanche and Cardano are some of the biggest Ethereum killers. Their goal is to create a fast, cost-effective and highly scalable alternative to Ethereum. As a result, the market capitalization of the two companies jumped into the billions. In this Avalanche vs Cardano comparison, we will explain the better investments.
Avalanche is a leading blockchain developed by Ava Labs. The network is known for its blazing speed surpassing Ethereum and other networks. Avalanche can process up to 4,500 transactions per second (TPS).
Avalanche has been widely used by developers to build applications across all industries. For example, its DeFi platform has more than 200 applications with over $10 billion in total value locked (TVL).
Avalanche has launched several projects to grow its ecosystem. For example, it is currently running Avalanche Rush, a multi-million dollar incentive program. It is also running another fund aimed at providing resources to Metaverse creators.
Therefore, Avalanche is a better investment because its network is already stable in terms of the number of applications in the ecosystem. It is also growing rapidly as more developers embrace the web.
On the daily chart, we see that AVAX price has been in a strong bearish trend over the past few months. It remains just below the 25-day and 50-day moving averages, while the oscillator continues to decline.
Therefore, in the short term, there is a chance that Avalanche prices will continue to fall. In the long run, the coin will bounce back.
Avalanche outperforms Cardano in most cases. On the one hand, Cardano was launched in 2015, while Avalanche’s mainnet went live in 2020. However, Cardano has a market cap of $27 billion, while Avalanche is valued at $18 billion.
Another notable factor is that Cardano’s ecosystem is much smaller than Avalanche’s, as developers launch their smart contracts in 2021. While Avalanche has a TVL of $10 billion, Cardano has only 10 DeFi applications and over $203 million in TVL.
So, based on these statistics, it is clear that Avalanche is a better investment than Cardano. However, given that its network is in a growth phase, this could also mean Cardano has a longer runway for growth.
On the daily chart, we see ADA price gas forming a falling wedge pattern. Therefore, the coin has the potential to bounce back. Still, Avalanche is a better option than Cardano in my opinion. Here’s how to buy Cardano.