Avalanche (AVAX) Market Capitalization Tops $12.88 Billion

Avalanche (AVAX) traded up 0.6% against the US dollar during the 24 hour period ending at 8:00 AM E.T. on May 12th. Avalanche has a market capitalization of $12.88 billion and $172.48 million worth of Avalanche was traded on exchanges in the last day. One Avalanche coin can now be purchased for approximately $33.77 or 0.00055273 BTC on exchanges. During the last week, Avalanche has traded 8.5% lower against the US dollar.

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

• NEAR Protocol (NEAR) traded down 1.7% against the dollar and now trades at $6.96 or 0.00011395 BTC.
• Internet Computer (ICP) traded 0.6% lower against the dollar and now trades at $11.85 or 0.00019405 BTC.
• Hedera (HBAR) traded up 3.2% against the dollar and now trades at $0.11 or 0.00000181 BTC.
• Cosmos (ATOM) traded 0.1% lower against the dollar and now trades at $8.59 or 0.00014064 BTC.
• Cronos (CRO) traded 0.2% lower against the dollar and now trades at $0.12 or 0.00000203 BTC.
• Fetch.ai (FET) traded 0.8% lower against the dollar and now trades at $2.20 or 0.00003608 BTC.
• Algorand (ALGO) traded down 1.3% against the dollar and now trades at $0.18 or 0.00000294 BTC.
• Akash Network (AKT) traded down 3.7% against the dollar and now trades at $5.47 or 0.00008957 BTC.
• Kava (KAVA) traded 0.1% lower against the dollar and now trades at $0.64 or 0.00001054 BTC.
• Theta Fuel (TFUEL) traded down 1.3% against the dollar and now trades at $0.0999 or 0.00000163 BTC.

About Avalanche

Avalanche uses the hashing algorithm. Its launch date was September 21st, 2020. Avalanche’s total supply is 440,205,376 coins and its circulating supply is 381,515,736 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 website is avax.network. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here. Avalanche’s official message board is medium.com/avalancheavax.

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 currently 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 GDAX. 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