Avalanche (AVAX) Market Capitalization Achieves $13.12 Billion

Avalanche (AVAX) traded 6.4% lower against the US dollar during the 24-hour period ending at 13:00 PM Eastern on May 8th. During the last week, Avalanche has traded 7.2% higher against the US dollar. Avalanche has a market capitalization of $13.12 billion and approximately $367.10 million worth of Avalanche was traded on exchanges in the last day. One Avalanche coin can now be purchased for about $34.46 or 0.00055388 BTC on cryptocurrency exchanges.

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

• NEAR Protocol (NEAR) traded 6.3% lower against the dollar and now trades at $6.95 or 0.00011171 BTC.
• Internet Computer (ICP) traded down 4.1% against the dollar and now trades at $12.32 or 0.00019805 BTC.
• Hedera (HBAR) traded 3.1% lower against the dollar and now trades at $0.11 or 0.00000175 BTC.
• Cosmos (ATOM) traded down 1% against the dollar and now trades at $9.17 or 0.00014737 BTC.
• Cronos (CRO) traded 1.8% lower against the dollar and now trades at $0.13 or 0.00000204 BTC.
• Fetch.ai (FET) traded 10.4% lower against the dollar and now trades at $2.20 or 0.00003542 BTC.
• Algorand (ALGO) traded down 1.8% against the dollar and now trades at $0.19 or 0.00000308 BTC.
• Akash Network (AKT) traded 6% lower against the dollar and now trades at $4.39 or 0.00007047 BTC.
• Kava (KAVA) traded 1.6% lower against the dollar and now trades at $0.66 or 0.00001062 BTC.
• Theta Fuel (TFUEL) traded down 1.1% against the dollar and now trades at $0.11 or 0.00000176 BTC.

Avalanche Profile

Avalanche (AVAX) uses the hashing algorithm. It launched on September 21st, 2020. Avalanche’s total supply is 439,295,018 coins and its circulating supply is 380,605,378 coins. Avalanche’s official message board 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. The Reddit community for Avalanche is https://reddit.com/r/avax and the currency’s Github account can be viewed here.

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.”

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 Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Avalanche using one of the aforementioned exchanges.

AVAX/USD price chart by TradingView