ETH Lags Other L1sSep 23, 2021
Over the past 30 days, ETH has struggled to keep up with other L1 tokens. A likely cause for this has been the flurry of announcements regarding new incentive programs on these L1s to attract liquidity and users.
We would like to single out Avalanche and its massive $280m ecosystem investment round led by Polychain Capital & 3AC. In addition to this, on August 18th, the Avalanche Foundation set aside $180m for a liquidity mining program which is now worth ~$600m. You can read about these recent Avalanche developments and more in our post from September 9th.