Avalanche Remains Under Pressure Despite Circle’s CCTP Effort

The native currency of Avalanche, AVAX, remains under pressure despite Circle’s effort to launch a facility that will enable the direct transfer of USDC between Ethereum and Avalanche blockchains.  Avalanche (AVAX) Is Down 18% From April 2023 Peaks Avalanche is a smart contracting platform with sub-second transaction finality and a rival of Ethereum. However, considering the first-mover advantage of Ethereum and the activity level on the pioneer smart contracting platform, Avalanche lags even though it offers high scalability translating to relatively low trading fees. Despite the launch of the Cross-Chain Transfer Protocol (CCTP) by Circle, the team behind USDC, a stablecoin;