Avalanche (AVAX) Hits Market Cap of $5.73 Billion

Avalanche (AVAX) traded 1% higher against the dollar during the 24 hour period ending at 9:00 AM Eastern on December 7th. Avalanche has a total market capitalization of $5.73 billion and $229.23 million worth of Avalanche was traded on exchanges in the last 24 hours. One Avalanche coin can currently be bought for approximately $13.34 or 0.00014995 BTC on popular exchanges. During the last week, Avalanche has traded down 6.5% against the dollar.

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

• Cronos (CRO) traded down 1.6% against the dollar and now trades at $0.10 or 0.00000116 BTC.
• Hedera (HBAR) traded down 0% against the dollar and now trades at $0.13 or 0.00000149 BTC.
• NEAR Protocol (NEAR) traded down 2.7% against the dollar and now trades at $1.68 or 0.00001893 BTC.
• Internet Computer (ICP) traded 2.2% lower against the dollar and now trades at $3.42 or 0.00003844 BTC.
• Algorand (ALGO) traded 0.4% lower against the dollar and now trades at $0.13 or 0.00000149 BTC.
• Cosmos (ATOM) traded 1.6% lower against the dollar and now trades at $2.18 or 0.00002453 BTC.
• Fetch.ai (FET) traded 2.7% lower against the dollar and now trades at $0.23 or 0.00000258 BTC.
• Theta Fuel (TFUEL) traded up 0.5% against the dollar and now trades at $0.0210 or 0.00000024 BTC.
• PayProtocol Paycoin (PCI) traded 1% higher against the dollar and now trades at $0.0652 or 0.00000073 BTC.
• Akash Network (AKT) traded down 2.5% against the dollar and now trades at $0.43 or 0.00000483 BTC.

Avalanche Coin Profile

Avalanche uses the hashing algorithm. It was first traded on September 21st, 2020. Avalanche’s total supply is 460,850,061 coins and its circulating supply is 429,180,961 coins. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here. 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. The official website for Avalanche is avax.network.

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 presently possible to buy alternative cryptocurrencies such as Avalanche directly using US dollars. Investors seeking to trade Avalanche should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Avalanche using one of the exchanges listed above.

AVAX/USD price chart by TradingView