Avalanche (AVAX) Hits Market Cap of $5.04 Billion

Avalanche (AVAX) traded up 8.8% against the US dollar during the 24-hour period ending at 16:00 PM Eastern on June 23rd. One Avalanche coin can currently be purchased for about $17.90 or 0.00085359 BTC on popular exchanges. Avalanche has a total market cap of $5.04 billion and $442.89 million worth of Avalanche was traded on exchanges in the last day. During the last week, Avalanche has traded up 9.3% against the US dollar.

Here is how related cryptocurrencies have performed during the last day:

  • Cronos (CRO) traded 4.7% higher against the dollar and now trades at $0.12 or 0.00000577 BTC.
  • NEAR Protocol (NEAR) traded 5.8% higher against the dollar and now trades at $3.53 or 0.00016814 BTC.
  • Algorand (ALGO) traded up 1.9% against the dollar and now trades at $0.33 or 0.00001566 BTC.
  • Hedera (HBAR) traded up 0.5% against the dollar and now trades at $0.0724 or 0.00000345 BTC.
  • Elrond (EGLD) traded up 0.3% against the dollar and now trades at $59.45 or 0.00283533 BTC.
  • Helium (HNT) traded up 2.1% against the dollar and now trades at $10.45 or 0.00049830 BTC.
  • Kava.io (KAVA) traded flat against the dollar and now trades at $5.62 or 0.00012724 BTC.
  • Kava (KAVA) traded 8.1% higher against the dollar and now trades at $1.77 or 0.00008432 BTC.
  • Theta Fuel (TFUEL) traded 2.6% higher against the dollar and now trades at $0.0522 or 0.00000249 BTC.
  • Ardor (ARDR) traded 1.9% higher against the dollar and now trades at $0.10 or 0.00000478 BTC.

Avalanche Coin Profile

AVAX uses the hashing algorithm. Its genesis date was July 15th, 2020. Avalanche’s total supply is 404,229,626 coins and its circulating supply is 281,367,097 coins. Avalanche’s official Twitter account is @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 info.avax.network/#about.

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 possible to purchase alternative cryptocurrencies such as Avalanche directly using US dollars. Investors seeking to acquire Avalanche should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Avalanche using one of the aforementioned exchanges.

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