VanEck Warns of Uncertain Future for Avalanche Cryptocurrency Due to Plunging Usage and Fees

Investment firm VanEck warns future is uncertain for cryptocurrency Avalanche (AVAX) due to declining on-chain activity and fees.

Avalanche's daily active users, total value locked, and fees per day have dropped over 98% from their peaks in 2021.

VanEck says Avalanche lacks Ethereum's network effects and developer/VC ecosystem despite strong technology.

Avalanche's marketing may not be enough to attract enterprise customers needed to revitalize the network.

Without new users and applications, VanEck is pessimistic on AVAX's long-term prospects compared to other cryptocurrencies.