Avalanche Tops 24-Hour Trading Volume of $397.78 Million (AVAX)

Avalanche (AVAX) traded 8.3% lower against the US dollar during the twenty-four hour period ending at 7:00 AM ET on January 13th. Avalanche has a total market cap of $13.87 billion and approximately $397.78 million worth of Avalanche was traded on exchanges in the last day. Over the last week, Avalanche has traded down 23.7% against the US dollar. One Avalanche coin can now be purchased for $33.77 or 0.00037145 BTC on major cryptocurrency exchanges.

Here’s how similar cryptocurrencies have performed over the last day:

• Hedera (HBAR) traded down 7.2% against the dollar and now trades at $0.26 or 0.00000289 BTC.
• NEAR Protocol (NEAR) traded down 10.2% against the dollar and now trades at $4.52 or 0.00004968 BTC.
• Internet Computer (ICP) traded down 9.4% against the dollar and now trades at $9.47 or 0.00010421 BTC.
• Cronos (CRO) traded 8.7% lower against the dollar and now trades at $0.13 or 0.00000140 BTC.
• Fetch.ai (FET) traded 10.7% lower against the dollar and now trades at $1.17 or 0.00001289 BTC.
• Algorand (ALGO) traded 10.5% lower against the dollar and now trades at $0.33 or 0.00000364 BTC.
• Cosmos (ATOM) traded 7.5% lower against the dollar and now trades at $6.06 or 0.00006661 BTC.
• Akash Network (AKT) traded 11.5% lower against the dollar and now trades at $2.69 or 0.00002965 BTC.
• Kava (KAVA) traded 10.8% lower against the dollar and now trades at $0.44 or 0.00000479 BTC.
• Theta Fuel (TFUEL) traded 12.5% lower against the dollar and now trades at $0.0672 or 0.00000074 BTC.

Avalanche Profile

Avalanche (AVAX) uses the hashing algorithm. It launched on September 21st, 2020. Avalanche’s total supply is 449,132,184 coins and its circulating supply is 410,795,884 coins. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here. The official website for Avalanche 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.

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 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 Coinbase, GDAX or Gemini. 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