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February 17, 2022, 09:23:37 PM |
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Important development for DeFi just a few days ago: Avalanche overtook Binance Coin in Total Value Locked (TVL), a very important metric for DeFi applications: Total Value Locked (TVL) is a metric where all combined amounts of a coin used in DeFi applications are summed up. Overtaking Binance Coin means a lot for Avalanche, because Binance has been occupying DeFi as a strong competitor where similar low fees are available but Binance is much more centralized, while Avalanche is more decentralized. On Coingecko, Avalanche is still below Binance Coin but if Avalanche continues to be strong, Avalanche might overtake Binance Coin one day. It's very bullish for Avalanche.
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Let's tame all shitcoins!
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Yogee
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February 17, 2022, 09:54:26 PM |
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Any idea what could have triggered this? I remember there were some platforms on BSC increased their liquidity because of the high APR or APY they offered for stable coin pairs. It's probably the same scenario for Avalanche don't you think? TVLs would likely decrease if they started reducing the rates just like what happened in other chains.
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TastyChillySauce00
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February 17, 2022, 10:36:02 PM |
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Avalanche needs more developers to use its blockchain to attract more people and im sure TVL will be surpassing binance. Binance is still in the top 3 position caused by it ash supported by its biggest exchange site. You may very familiar with it and that's why it will be so difficult to replace it. I thought that the possible thing to compete with solana in this case. Doing 3x ROI or even more to surpass BNB is quite difficult or almost impossible during the bearish market right now. Im sure that avalanche potentially to be the same like ethereum in the future. The ecosystem is very good and more developers are coming to build their dapps on avalanche and this will also bring new users to the avalanche. It needs dapps that can offer sustainable staking reward like JOE. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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nelson4lov
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February 17, 2022, 10:47:50 PM |
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Any idea what could have triggered this? I remember there were some platforms on BSC increased their liquidity because of the high APR or APY they offered for stable coin pairs. It's probably the same scenario for Avalanche don't you think? TVLs would likely decrease if they started reducing the rates just like what happened in other chains.
Yes, TVL would most likely go down when APY goes down - I've seen this happen across a number of chains for the last 2 years now. DeFi farmers would always want to join a new pool that can help turn maximize their rewards. If the earnings get slashed, they have to look for another DeFi chain to try for much better returns. Avalanche has been doing good so far so good only that their technology and program is a little twisted to understand.
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hd49728
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February 18, 2022, 03:53:57 AM |
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Your words are not accurate. Avalanche network has TVL figure passes through TVL value on Binance Smart Chain. AVAX has yet taken over BNB in value or marketcap. They are different stories and your inaccurate wording can mislead people.
AVAX looks to have good technology but it must be tested more when their customers and usage demand on the AVAX network booms much bigger. Binance Smart Chain used to operate smoothly and gave very cheap transaction fee. Recent months, when the chain becomes bigger, it has issues to scale up and transaction fee becomes more expensive.
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bbc.reporter
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February 19, 2022, 03:38:04 AM |
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Any idea what could have triggered this? I remember there were some platforms on BSC increased their liquidity because of the high APR or APY they offered for stable coin pairs. It's probably the same scenario for Avalanche don't you think? TVLs would likely decrease if they started reducing the rates just like what happened in other chains.
I am not as experienced on blockchain games, however, do those games also lock in tokens for liquidity providing and farming? I saw someone in social media mention that Avalanche is becoming the gaming chain because it appears there are many blockchain gaming developers that are making it their platform of choice to release their projects. Also, much of the projects in Binance are very low quality and there are many scamcoins.
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jc12345
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February 19, 2022, 05:35:33 AM |
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I think that Binance is at a point where it is in need of re-inventing itself. This is needed because while it was at the peak and the leader at some point Binance is losing market share to competitors and new kids on the block. At one point Polo was at the top and when new players entered, look where it is now. At one point Binance was clearly at the top due to things like its low tx fees among several others. Most of those first to market and clear advantages are now diluted in a more crowded market. There are a few things that are pointing to this and the effort Binance is doing to stay relevant. (1) Binance invested $200m in Forbes and (2) Binance converging their "chains" so to speak into a new ecosystem bnbchain.world. If the competitors keep inventing and Binance do not do something about it, more stats will pass them and they will become a Polo in a year's time.
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cryptoaddictchie
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February 19, 2022, 06:35:41 AM |
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Your words are not accurate. Avalanche network has TVL figure passes through TVL value on Binance Smart Chain. AVAX has yet taken over BNB in value or marketcap. They are different stories and your inaccurate wording can mislead people.
He didnt mentioned overtaking in terms of value and marketcap mate. He did said about tvl but thats only on that. Tvl is anothet source of possible use case, which just means that many have using avax network on different dapps and farming. I dont think he misled others, cause if he did. Theres astatement there about surpassing bnb in overall ranking which signify marketcap.
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GreatArkansas
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February 19, 2022, 08:51:05 AM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F2tw91Ae.png&t=665&c=YcTTkUMP_EyIDA) Here's the current TVL of Avalance and Binance Smart Chain (BSC), as you can see there, Binance Smart Chain (BSC) is now above with Avalanche, advance with only $2b. For me, if you can see the protocols are almost half the advantage of BSC, once more protocols will come to Avalanche, Avalanche will advance with Binance.
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Yogee
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February 19, 2022, 09:27:14 AM |
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Any idea what could have triggered this? I remember there were some platforms on BSC increased their liquidity because of the high APR or APY they offered for stable coin pairs. It's probably the same scenario for Avalanche don't you think? TVLs would likely decrease if they started reducing the rates just like what happened in other chains.
I am not as experienced on blockchain games, however, do those games also lock in tokens for liquidity providing and farming? I saw someone in social media mention that Avalanche is becoming the gaming chain because it appears there are many blockchain gaming developers that are making it their platform of choice to release their projects. Yes most P2E native tokens and their NFTs had a staking program in different DeFi platforms. Increasing P2Es on Avalanche probably contributed to the TVL if that's what you're leading at. Also, much of the projects in Binance are very low quality and there are many scamcoins. Some people do blame the chain when they fall victim to rugpull. The funny thing is the same type of scam follow them in other chains.
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cryptoaddictchie
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February 19, 2022, 11:20:37 AM |
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Some people do blame the chain when they fall victim to rugpull. The funny thing is the same type of scam follow them in other chains.
Thats obviously the samw person fall for the same scam using new trend chain. Before bsc network have a lots of rugpull, now thay avalanche is becoming popular, few rugs has beem observed already. Probably its the same guys who are doing on bsc now they also shifting their modus on avax.
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Anonylz
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February 19, 2022, 05:20:48 PM Last edit: February 19, 2022, 05:48:26 PM by Anonylz |
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I think that Binance is at a point where it is in need of re-inventing itself. This is needed because while it was at the peak and the leader at some point Binance is losing market share to competitors and new kids on the block. At one point Polo was at the top and when new players entered, look where it is now. At one point Binance was clearly at the top due to things like its low tx fees among several others. Most of those first to market and clear advantages are now diluted in a more crowded market. There are a few things that are pointing to this and the effort Binance is doing to stay relevant. (1) Binance invested $200m in Forbes and (2) Binance converging their "chains" so to speak into a new ecosystem bnbchain.world. If the competitors keep inventing and Binance do not do something about it, more stats will pass them and they will become a Polo in a year's time.
It is not a new ecosystem per say, it is just rebranding and making bnb center focus, in bsc or binance chain it was the same bnb that is use for transaction fees, so the new brand will now be bnb beacon chain and bnb smart chain and bnb will no longer be seen as just an exchange coin but will have a whole ecosystem under it, according to binance statement " bnb chain will provide several features for users including being open, multi-chain, permissionless and forever decentralized, it will also embrace large-scale applications, including Gamefi, Socialfi and metaverse." i see it as a good way of strengthening the bnb coin and make it more decentralized. Besides i don't see any exchange that has come close to binance in terms of achievement and advancement, do you know how many local currency bianance currently support and at what cost, cz is a real business man, if he invested such amount on forbes it is because he knows what he can possibly gain out of it, Not only that, "the Association of Banks of Russia have accepted binance membership into the association to further strengthen relationship in the cryptocurrency industry". Binance always take things to the next level. I don't know what polo and bittrex did to go down the ladder but i doubt binance will ever end up like them.
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poodle63
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February 19, 2022, 05:32:16 PM |
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this total value locked thing actually has nothing to do with market capitalization honestly. TVL heavily fluctuates and this itself is just actually the amount of capitals being locked or staked in various defis, and if the prospect of locking and staking your investment in this platform seems grim, the amount of total value locked could be changing and could go down drastically since the behaviour of big investment like this always follows the trend and the platform that offers a lot more benefit and bigger APY and maybe also better long term return of investment, it’s gonna be great if avalanche could overtake BSC in terms of market capitalization but it still has a really long way in the future.
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zasad@
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February 19, 2022, 05:44:49 PM |
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Tron has a centralized network of validators and this is the main drawback of the coin. I haven't heard of asset forfeiture and transaction blocking, but thanks to cheap fees, a huge amount of USDT tokens are in this ecosystem.
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el kaka22
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www.Crypto.Games: Multiple coins, multiple games
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February 20, 2022, 09:04:36 AM |
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I still do not understand the Luna one. No idea what they are doing and how they are doing and I never really had any interest in researching about it, so I basically have zero clue about what that is. However, that is a good enough second spot for them to be proud of for sure.
BNB is still 2+ billion dollars ahead of Avax on the chain TVL comparison but that doesn't mean anything bad for AVAX, that is still a great fourth spot for them. The closest has 8 billion which is 2 billions short from Avax, so they are at a great position at the fourt spot right now. That means that while Avax coin itself may not be high up there, the projects on Avax are definitely getting a lot of attention.
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Master of Shitcoins (OP)
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February 20, 2022, 10:44:10 PM |
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this total value locked thing actually has nothing to do with market capitalization honestly.
Yes, Marketcap is much more important but Total Value Locked is a pre-indicator for a platform highly appreciated for DeFi applications. And Binance is obviously not very strong at DeFi and was overtaken now by Avalanche. It's a sign for a strong Avalanche position for DeFi.
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Let's tame all shitcoins!
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tbct_mt2
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February 21, 2022, 10:15:25 AM |
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Avalanche has good growth but it will need more serious tests from the market. When more projects are built on Avalanche, more users and more transactions on this chain, we might see its drawbacks. Now, things look to be very good and no serious drawback on capacity of this chain to handle transactions. But it might be different in future when the network becomes more crowded.
It happens with Bitcoin, Ethereum, Solana chains already and it is what we will see with any chain. Because basically no developer can build up a perfect chain, algorithm to handle all things and all sort of demands on it. They have to upgrades their chain capacity with time and chain growth.
In my opinion, Avalanche is a good chain to use.
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Master of Shitcoins (OP)
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April 10, 2022, 09:44:25 PM |
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Avalanche has good growth but it will need more serious tests from the market.
Sure, tests are always important and a good coin needs good tests for it to be proven solid. It happens with Bitcoin, Ethereum, Solana chains already and it is what we will see with any chain.
You are right, Bitcoin, Ethereum are already tested very good and are working. For Solana it's a bit different because Solana was exposed by experts and went down several times. No more transactions were possible. What happened to Solana is a big no go for a coin.
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Let's tame all shitcoins!
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