It’s not the first time that the native token of the Avalanche blockchain has encountered wild fluctuations. AVAX rose to $60 in February before falling to $60 and $76 respectively. AVAX climbed above $60, but it topped out at $9.34 and now trades at $76. Cointelegraph Markets Pro has ranked it among the 20 most valuable cryptocurrencies by market cap with $16billion. Avalanche is among the layer-one blockchains tagged as “ killers” that appear to have reduced the recent dominance of the top altcoin in terms of total locked value (TVL). Of the $170 billion in TVL, Ethereum presently controls 67% based on data from Defi Llama. But while the number appears high, it’s actually much lower than February when it contained about 96% in TVL.

Background on Avalanche