Avalanche Surges 10% in a Day—Is AVAX Gunning for Chainlink’s Throne?

Avalanche just ripped through the crypto charts with a near-10% gain in 24 hours—fueling speculation that AVAX might be gearing up to overtake Chainlink in market cap rankings.

The smart contract platform’s bullish momentum comes as traders pile into altcoins, chasing the next big narrative. Meanwhile, Chainlink—the oracle giant—has been grinding sideways, leaving room for hungry competitors.

Could this be the start of a flippening? Or just another day in crypto where yesterday’s top performer becomes tomorrow’s bagholder? Either way, the market’s voting with its wallet—for now.

Avalanche On The Brink Of Overtaking Chainlink

If the market continues its current momentum, AVAX could very quickly overtake LINK as the 15th-largest crypto project.

AVAX’s price has risen 9.7% in the last 24 hours, 5% in the weekly charts, 18.1% in the 14-0day charts, and 22.1% over the previous month. Despite the stellar recovery, the asset is still down by 39.3% since May 2024.

Chainlink’s (LINK) rally, although commendable, has not been as lustrous as AVAX’s. LINK’s price is up 3.1% in the daily charts, 2.1% in the weekly charts, 10.6% in the 14-day charts, and 23% over the previous month. While LINK’s performance has been outshone by AVAX in these time frames, the asset has lost much less over the last year. LINK’s price has dipped by 2.3% since May 2024.

Avalanche’s market cap may overtake Chainlink’s in the coming few days. There is also a possibility that AVAX will face a correction and its market cap will dip. The asset could see a price pullback if BTC’s rally slows down. The current market upswing is likely due to institutional investors. A dip in institutional money could bring about a market-wide correction.