Avalanche, despite its standing as the 10th largest cryptocurrency and a significant player among Layer 1 blockchains with smart contract capabilities, faces a grim outlook. With a nearly $40 billion fully diluted market capitalization, its onchain activity is declining, lagging behind competitors like Solana and Ethereum’s rollups. There is simply not much to celebrate for AVAX holders.
![Crypto Moves #21 – Avalanche Is Slowly But Surely Dying](https://stenoresearch.com/wp-content/uploads/2023/11/Crypto-1080x675.png)