Avalanche (AVAX) Hits Market Capitalization of $10.29 Billion

Avalanche (AVAX) traded 1.7% lower against the dollar during the 24-hour period ending at 20:00 PM ET on October 2nd. Avalanche has a total market cap of $10.29 billion and $384.53 million worth of Avalanche was traded on exchanges in the last day. During the last week, Avalanche has traded down 7.3% against the dollar. One Avalanche coin can now be bought for approximately $25.32 or 0.00041716 BTC on major cryptocurrency exchanges.

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

• NEAR Protocol (NEAR) traded 4% lower against the dollar and now trades at $4.60 or 0.00007586 BTC.
• Internet Computer (ICP) traded down 3.4% against the dollar and now trades at $7.99 or 0.00013169 BTC.
• Cronos (CRO) traded down 1.1% against the dollar and now trades at $0.0789 or 0.00000130 BTC.
• Hedera (HBAR) traded down 2.1% against the dollar and now trades at $0.0515 or 0.00000085 BTC.
• Cosmos (ATOM) traded 0.1% higher against the dollar and now trades at $4.44 or 0.00007309 BTC.
• Fetch.ai (FET) traded 3.9% lower against the dollar and now trades at $1.42 or 0.00002341 BTC.
• Algorand (ALGO) traded down 2.3% against the dollar and now trades at $0.12 or 0.00000200 BTC.
• Akash Network (AKT) traded 2.9% lower against the dollar and now trades at $2.54 or 0.00004178 BTC.
• Theta Fuel (TFUEL) traded down 2% against the dollar and now trades at $0.0602 or 0.00000099 BTC.
• Kava (KAVA) traded 3.7% lower against the dollar and now trades at $0.32 or 0.00000527 BTC.

Avalanche Coin Profile

AVAX uses the hashing algorithm. Its genesis date was September 21st, 2020. Avalanche’s total supply is 446,390,058 coins and its circulating supply is 406,386,958 coins. 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 message board is medium.com/avalancheavax. 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 US dollars. Investors seeking to acquire Avalanche should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Avalanche using one of the exchanges listed above.

AVAX/USD price chart by TradingView