According to U.Today, Avalanche (AVAX) has recently overtaken Tron (TRX) in market ranking following a sudden market recovery on Sunday evening. At the time of writing, Avalanche is trading at $31.94, marking a 10.91% increase in the past 24 hours. The digital currency has also extended its weekly gains to 17.03%, highlighting its sustained positive momentum.
The growth trends of Avalanche have pushed its market capitalization to $12,608,433,339, surpassing Tron’s $11,835,009,812. This flip, while notable, may not be significant unless Avalanche can maintain this growth trend over the long term. Token flipping is common in the market, especially when there is an uneven surge in key metrics between two tokens. Although Avalanche is currently in the spotlight, it is one of the most frequently flipped digital currencies among the top 20 assets by market capitalization. For instance, Shiba Inu (SHIB) has a more definitive record of flipping Avalanche, with the latest instance occurring about a week ago. However, the meme coin could not sustain its ranking.
Avalanche appears poised for further growth, as evidenced by its trading volume, which has surged by 214% in the past 24 hours to $857,560,520. This indicates high market sentiment. The Avalanche ecosystem is advancing rapidly, with the protocol striving to innovate and compete with its peers. While Avalanche is addressing issues such as downtime, some of its protocols, like Benqi, are gaining traction, which could further enhance its growth prospects in the near future.
