Subnets have made Avalanche infinitely scalable, and adoption is gaining traction.
Key points:
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Avalanche is deep in the bear market and is down by over 80% from its most recent all-time highs.
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Avalanche has launched subnets, making it a highly scalable blockchain, perfect for any kind of Dapps.
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Adoption of Avalanche subnets is already on the rise in DeFi and Gaming.
Avalanche (AVAX) like the rest of the market, is still deep in the bear market. However, when you look beyond the price, a lot is going on within the Avalanche ecosystem that could see it outperforming many cryptocurrencies once the bull market returns. One of the key factors likely to drive Avalanche adoption is its positioning for the fast-growing Web 3.0 market. Web 3 apps are coming up fast and growing at an unprecedented rate. However, scale is a challenge as most major platform blockchains can’t handle the increased load.
Avalanche is looking to solve this problem with subnets. Subnets are application-specific blockchains that run within the Avalanche ecosystem. Through subnets, developers choose validators, the virtual machine to use, and even the token that will pay fees. All this, while still relying on the Avalanche security and speed at the base level.
This opens up the door for infinite scalability, and adoption is already rising. For instance, there has been an upsurge of subnets adoption in everything from DeFi to gaming. Institutions are also adopting Avalanche subnets to develop highly customized applications that are secure and scalable.
Is Avalanche a good cryptocurrency to buy today?
With the launch of subnets, Avalanche is likely to see an upsurge in adoption going into the future. Thanks to its scalability, Avalanche is already known as one of the best blockchains for launching Dapps. In essence, now that it is taking both scalability and security a notch higher, adoption will only rise. By extension, this means good prospects for AVAX, the token that governs the Avalanche ecosystem.
Even with all these developments, AVAX is trading at a massive discount. From highs of $146.22, AVAX is currently trading at $24.66, a drop of 83%. Once the market rebounds and AVAX gains momentum, even retesting its all-time highs would give investors a massive return on investment.
Conclusion
Despite the price drop across the crypto market, Avalanche fundamentals are getting better. The launch of subnets has made Avalanche more scalable than ever before and highly attractive for launching all kinds of Dapps. Adoption is already on the rise, especially in gaming, further giving AVAX high prospects for value appreciation long-term.