Avalanche (AVAX) Market Capitalization Hits $4.02 Billion

Avalanche (AVAX) traded 7% lower against the U.S. dollar during the one day period ending at 11:00 AM ET on February 5th. During the last seven days, Avalanche has traded down 20% against the U.S. dollar. One Avalanche coin can currently be bought for approximately $9.31 or 0.00013216 BTC on popular cryptocurrency exchanges. Avalanche has a market cap of $4.02 billion and approximately $523.13 million worth of Avalanche was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed during the last 24 hours:

• Cronos (CRO) traded down 7.9% against the dollar and now trades at $0.0768 or 0.00000109 BTC.
• Hedera (HBAR) traded 7% lower against the dollar and now trades at $0.0861 or 0.00000122 BTC.
• Internet Computer (ICP) traded down 7.7% against the dollar and now trades at $2.50 or 0.00003555 BTC.
• NEAR Protocol (NEAR) traded 6.4% lower against the dollar and now trades at $1.11 or 0.00001573 BTC.
• Cosmos (ATOM) traded 4.2% lower against the dollar and now trades at $1.97 or 0.00002797 BTC.
• Algorand (ALGO) traded 8% lower against the dollar and now trades at $0.0980 or 0.00000139 BTC.
• Fetch.ai (FET) traded down 8.3% against the dollar and now trades at $0.17 or 0.00000239 BTC.
• PayProtocol Paycoin (PCI) traded 6.2% lower against the dollar and now trades at $0.0604 or 0.00000086 BTC.
• Theta Fuel (TFUEL) traded down 7.2% against the dollar and now trades at $0.0146 or 0.00000021 BTC.
• Akash Network (AKT) traded down 14.7% against the dollar and now trades at $0.31 or 0.00000443 BTC.

Avalanche Profile

Avalanche (AVAX) uses the hashing algorithm. Its genesis date was September 21st, 2020. Avalanche’s total supply is 463,438,981 coins and its circulating supply is 431,769,881 coins. The official website for Avalanche is avax.network. The official message board for Avalanche is medium.com/avalancheavax. The Reddit community for Avalanche is https://reddit.com/r/avax and the currency’s Github account can be viewed here. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here.

According to CryptoCompare, “Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.Avalanche can confirm transactions in under one second, supports the entirety of the Ethereum development toolkit, and enables millions of independent validators to participate as full block producers (Avalanche had over 1,000 full, block-producing nodes on its Denali testnet).In addition to supporting transaction finality under one second, Avalanche is capable of throughput orders of magnitude greater than existing decentralized blockchain networks (4,500+ transactions/second) and security thresholds well-above the 51% standards of other networks.AVAX is the capped supply native token of the Avalanche platform. Participants can become full block-producers and validators by staking AVAX and are incentivized to do so because of staking rewards. Fees for all sorts of operations on the network are paid out in AVAX through burning, thus increasing the scarcity of AVAX for all token holders.On September 2020, Avalanche announced the launch of its mainnnet.”

Avalanche Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Avalanche directly using US dollars. Investors seeking to trade Avalanche should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Avalanche using one of the aforementioned exchanges.

AVAX/USD price chart by TradingView