Episode Summary:

Today On the Crypto Breakdown, host Joe Dewitt looks at the two of the most popular coins HARMONY vs AVALANCHE.

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Unedited Transcript:

Hey everybody happy Friday. My name is Joe Dewitt, and this is the crypto breakdown. Today. I am going to do a, another coin battle of two layer, one coins, avalanche and harmony. First off, looking at the two market caps. Harmony has a market cap of about three and a half billion while avalanche sits roughly over 21 billion.

Now that is a hefty difference in market cap. Avalanche has clearly been established and around for slightly a little bit more time and has gained a bit more adoption here while the price of harmony sits at 31 cents. And avalanche is just short of $90 price differences, definitely signif. Now the two do offer great utility for scaling transactions, harmony bridges, proof of work and proof of stake chains, which makes them highly gas efficient.

Um, they can currently bridge Ethereum, Binance, smart chains and secure tens of millions in cross chain assets. Now, this is really nice to make, um, proof of work and proof of stake platforms compatible as a, usually they would not be able to. Um, communicate where avalanche on the other hand is a traditional layer one, which is a smart contract platform that is used to build decentralized applications.

Now, avalanche has incredibly fast and low cost, um, transaction times, which is where they have got a lot of their popularity and the high transaction times and low gas fees make it a great alternative investment to, uh, other layer ones like Ethereum, which may be experience. Tremendously high gas fees and shorter transaction times.

Although keep in mind something like a theorem is a lot more established now, purely from a technical analysis standpoint. If we take a look at the daily chart for these two tokens, one is currently, or I guess I'd call it. Harmony is currently trending in the upwards direction where avalanche. Harmony is currently trending in the upwards direction as avalanche is currently falling.

So price for one has moved above the 200 day moving average and looks like it could be close to breaking all time highs, which would be. Price up even farther avalanche on the other hand is falling down towards support of about $75, which may be a great entry point there. If price does see the reversal for an investment standpoint, it is easier to recommend harmony as it is a much lower cost per token.

And the utility is great. Um, generally I would not generally, I would not favor one coin over the other because it is necessarily cheaper. Although in this circumstance with a utility, it proves. Although in this circumstance with the utility that it provides, it is a great, um, great price for the chain that you were getting avalanche on.

The other hand has seen its Palm and it has seen its surge in activity. Um, I am slightly concerned that price may continue to fall for avalanche as the market continues to consolidate. But that is just my 2 cents. Make sure to do your own financial research before investing in cryptos. That's all the time we have for today, guys.

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