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, Avalan