Avalanche Market Cap Hits $5.69 Billion (AVAX)

Avalanche (AVAX) traded 6.9% lower against the U.S. dollar during the 1-day period ending at 10:00 AM Eastern on December 11th. Avalanche has a total market cap of $5.69 billion and approximately $504.50 million worth of Avalanche was traded on exchanges in the last 24 hours. One Avalanche coin can currently be purchased for $13.26 or 0.00014663 BTC on major exchanges. In the last seven days, Avalanche has traded down 10.1% against the U.S. dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Cronos (CRO) traded down 3.9% against the dollar and now trades at $0.10 or 0.00000111 BTC.
• Hedera (HBAR) traded 4.7% lower against the dollar and now trades at $0.13 or 0.00000144 BTC.
• NEAR Protocol (NEAR) traded down 4.5% against the dollar and now trades at $1.67 or 0.00001848 BTC.
• Internet Computer (ICP) traded down 4.5% against the dollar and now trades at $3.37 or 0.00003722 BTC.
• Algorand (ALGO) traded down 4.5% against the dollar and now trades at $0.13 or 0.00000145 BTC.
• Cosmos (ATOM) traded 2.9% lower against the dollar and now trades at $2.19 or 0.00002424 BTC.
• Fetch.ai (FET) traded down 7.1% against the dollar and now trades at $0.24 or 0.00000266 BTC.
• Theta Fuel (TFUEL) traded 2.2% lower against the dollar and now trades at $0.0211 or 0.00000023 BTC.
• PayProtocol Paycoin (PCI) traded down 0.3% against the dollar and now trades at $0.0678 or 0.00000075 BTC.
• Akash Network (AKT) traded 1.3% lower against the dollar and now trades at $0.43 or 0.00000478 BTC.

Avalanche Coin Profile

Avalanche (AVAX) uses the hashing algorithm. Its genesis date was September 21st, 2020. Avalanche’s total supply is 461,096,448 coins and its circulating supply is 429,427,348 coins. Avalanche’s official message board is medium.com/avalancheavax. 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. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here.

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 U.S. dollars. Investors seeking to trade Avalanche should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Avalanche using one of the aforementioned exchanges.

AVAX/USD price chart by TradingView