Avalanche (AVAX) Price Up 7.6% This Week

Avalanche (AVAX) traded 0.3% lower against the US dollar during the 1-day period ending at 16:00 PM Eastern on May 6th. One Avalanche coin can now be purchased for approximately $37.12 or 0.00058765 BTC on exchanges. Avalanche has a market cap of $14.12 billion and approximately $542.27 million worth of Avalanche was traded on exchanges in the last day. During the last week, Avalanche has traded 7.6% higher against the US dollar.

Here’s how similar cryptocurrencies have performed during the last day:

• NEAR Protocol (NEAR) traded down 1.7% against the dollar and now trades at $7.27 or 0.00011511 BTC.
• Internet Computer (ICP) traded 0.4% lower against the dollar and now trades at $12.94 or 0.00020490 BTC.
• Hedera (HBAR) traded up 2.6% against the dollar and now trades at $0.11 or 0.00000180 BTC.
• Cosmos (ATOM) traded up 0.7% against the dollar and now trades at $9.28 or 0.00014687 BTC.
• Cronos (CRO) traded 2.2% lower against the dollar and now trades at $0.13 or 0.00000207 BTC.
• Fetch.ai (FET) traded 2.2% higher against the dollar and now trades at $2.38 or 0.00003771 BTC.
• Algorand (ALGO) traded 0.3% lower against the dollar and now trades at $0.20 or 0.00000311 BTC.
• Akash Network (AKT) traded down 3.6% against the dollar and now trades at $4.76 or 0.00007503 BTC.
• Kava (KAVA) traded down 1.7% against the dollar and now trades at $0.68 or 0.00001078 BTC.
• Theta Fuel (TFUEL) traded down 4.1% against the dollar and now trades at $0.11 or 0.00000168 BTC.

Avalanche Coin Profile

Avalanche (CRYPTO:AVAX) uses the hashing algorithm. It launched on September 21st, 2020. Avalanche’s total supply is 439,223,689 coins and its circulating supply is 380,534,049 coins. 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. Avalanche’s official message board is medium.com/avalancheavax. Avalanche’s official website is avax.network.

According to CryptoCompare, “Avalanche (AVAX) is an open-source smart contracts platform launched in September 2020, known for its high scalability and rapid transaction finalization (sub-one second). Developed under the leadership of Dr. Emin Gün Sirer, it’s a robust platform for decentralized finance (DeFi) and enterprise blockchain solutions. The network can handle over 4,500 transactions per second and offers enhanced security against 51% attacks. Compatible with Ethereum’s development toolkit, Avalanche allows for easy interoperability and supports millions of independent validators as full block producers. It is also eco-friendly, catering to Web3 developers. The AVAX token serves multiple roles within the network, including transaction fees and network security. With the ability to host decentralized applications (dApps) and custom blockchains, Avalanche offers a versatile, high-performance ecosystem for developers, investors, and enterprises alike.”

Buying and Selling Avalanche

It is usually not possible to buy alternative cryptocurrencies such as Avalanche directly using U.S. dollars. Investors seeking to trade Avalanche should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. 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