AVALANCHE AT $37: SUBNET THESIS MEETS SOLANA REALITY.

The architecture works. The adoption doesn’t, yet. With Solana winning the throughput war, Avalanche needs real users, not more whitepapers.

Avalanche trades at $19.35, down 87% from its November 2021 all-time high of $144.96. Four years of correction have cleared extreme leverage: open interest declined materially, liquidations exceeded $220M in 24 hours, and social sentiment hit extreme lows. Corporate treasury allocation intent announced, Bitwise product launched, 90-day momentum positive. But Solana dominates fast-L1 narrative with 12× market cap advantage. The question: Does subnet architecture create differentiation, or does AVAX remain an "also-ran" losing to SOL's simplicity?