Avalanche (CURRENCY:AVAX) traded 5.2% lower against the U.S. dollar during the 24 hour period ending at 15:00 PM ET on May 16th. Over the last week, Avalanche has traded down 9.4% against the U.S. dollar. One Avalanche coin can currently be purchased for about $34.42 or 0.00075347 BTC on major cryptocurrency exchanges. Avalanche has a market capitalization of $4.44 billion and approximately $493.53 million worth of Avalanche was traded on exchanges in the last 24 hours.
Here is how similar cryptocurrencies have performed over the last 24 hours:
- Algorand (ALGO) traded 1.3% lower against the dollar and now trades at $1.40 or 0.00003057 BTC.
- Elrond (EGLD) traded 2% lower against the dollar and now trades at $156.08 or 0.00341694 BTC.
- NEAR Protocol (NEAR) traded down 6.7% against the dollar and now trades at $5.69 or 0.00012462 BTC.
- Theta Fuel (TFUEL) traded 0.4% higher against the dollar and now trades at $0.33 or 0.00000712 BTC.
- Helium (HNT) traded 4.7% lower against the dollar and now trades at $14.06 or 0.00030786 BTC.
- Kava.io (KAVA) traded down 5% against the dollar and now trades at $4.96 or 0.00010852 BTC.
- Ardor (ARDR) traded down 3.5% against the dollar and now trades at $0.31 or 0.00000680 BTC.
- Wanchain (WAN) traded down 6.6% against the dollar and now trades at $1.58 or 0.00003450 BTC.
- Divi (DIVI) traded down 2.2% against the dollar and now trades at $0.0847 or 0.00000185 BTC.
- Energi (NRG) traded 3.9% lower against the dollar and now trades at $2.69 or 0.00005892 BTC.
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 currently possible to buy alternative cryptocurrencies such as Avalanche directly using US dollars. Investors seeking to acquire Avalanche should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Avalanche using one of the exchanges listed above.
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