Avalanche, Layer 1 Tokens Soared in November as Ethereum Fees Drove Competition

Posted on by American Coins & Gold

Avalanche, Layer 1 Tokens Soared in November as Ethereum Fees Drove Competition
Interest in so-called layer 1 tokens heated up during November as several top blockchain protocols pushed incentive programs, while gas fees on Ethereum network remained near all-time highs.“Layer 1″ refers to blockchains that run independently of other blockchains – as contrasted with “layer 2″ solutions that aim to speed up transactions on existing blockchains like Ethereum.One such blockchain, Avalanche, saw its AVAX token rise 70% in November, the top performing layer 1 platform with a market capitalization of $10 billion or greater, according to data from Messari. Among the largest cryptocurrencies, AVAX was the second-biggest gainer overall, behind Crypto.com’s CRO…