Avalanche (AVAX) Achieves Market Cap of $5.38 Billion

Avalanche (AVAX) traded up 2.6% against the U.S. dollar during the one day period ending at 10:00 AM ET on December 27th. Avalanche has a total market cap of $5.38 billion and approximately $167.71 million worth of Avalanche was traded on exchanges in the last 24 hours. One Avalanche coin can currently be bought for $12.52 or 0.00014306 BTC on major exchanges. In the last seven days, Avalanche has traded 2.2% higher against the U.S. dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Cronos (CRO) traded 0.1% lower against the dollar and now trades at $0.0920 or 0.00000105 BTC.
• Hedera (HBAR) traded 1.2% higher against the dollar and now trades at $0.11 or 0.00000128 BTC.
• NEAR Protocol (NEAR) traded 2.6% higher against the dollar and now trades at $1.54 or 0.00001755 BTC.
• Internet Computer (ICP) traded 2.1% higher against the dollar and now trades at $3.06 or 0.00003502 BTC.
• Algorand (ALGO) traded down 0.4% against the dollar and now trades at $0.12 or 0.00000134 BTC.
• Cosmos (ATOM) traded up 1.9% against the dollar and now trades at $2.05 or 0.00002343 BTC.
• Fetch.ai (FET) traded 2.4% higher against the dollar and now trades at $0.21 or 0.00000242 BTC.
• PayProtocol Paycoin (PCI) traded down 0% against the dollar and now trades at $0.0684 or 0.00000078 BTC.
• Theta Fuel (TFUEL) traded down 0% against the dollar and now trades at $0.0178 or 0.00000020 BTC.
• Akash Network (AKT) traded up 1.2% against the dollar and now trades at $0.37 or 0.00000424 BTC.

Avalanche Coin Profile

AVAX uses the hashing algorithm. Its genesis date was September 21st, 2020. Avalanche’s total supply is 461,271,339 coins and its circulating supply is 429,602,239 coins. The Reddit community for Avalanche is https://reddit.com/r/avax and the currency’s Github account can be viewed here. The official message board for Avalanche is medium.com/avalancheavax. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here. Avalanche’s official website 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.”

Buying and Selling Avalanche

It is usually not presently possible to purchase alternative cryptocurrencies such as Avalanche directly using U.S. dollars. Investors seeking to acquire Avalanche should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Avalanche using one of the exchanges listed above.

AVAX/USD price chart by TradingView