- Avalanche (AVAX) flipped Dogecoin (DOGE) and became the ninth-largest cryptocurrency by market capitalization.
- AVAX’s market cap gained 15% in the past 24 hours, reaching $14.98 billion.
- The price surge on AVAX was propelled by increased activity on Trader Joe, Avalanche’s top DEX.
AVAX, the native cryptocurrency of the Avalanche blockchain, flipped DOGE, the internet meme-based crypto token featuring the Shiba Inu logo, to become the ninth-largest cryptocurrency by market capitalization. AVAX became the ninth largest cryptocurrency after its market cap gained 15%, reaching $14.98 billion.
The significant rise in the value and ranking of AVAX in the past 24 hours coincides with a notable development on Trader Joe, the Avalanche blockchain’s top decentralized exchange (DEX). According to Colin Wu, a renowned crypto journalist, Trader Joe’s fee capture reached $1.23 million, while its revenue rose to $145,000 in the past 24 hours, at the time of the report.
On December 11, Avalanche’s top DEX Trader Joe’s fee capture reached $1.23 million and revenue reached $145k, both reaching the second highest during the year. In the past 24h, AVAX rose by m…The post AVAX Surpasses DOGE in Market Cap, Becomes Ninth-Largest Crypto appeared first on Coin Edition.