Avalanche Market Capitalization Tops $13.04 Billion (AVAX)

Avalanche (AVAX) traded down 2.7% against the US dollar during the 24 hour period ending at 22:00 PM ET on May 8th. One Avalanche coin can now be bought for $34.26 or 0.00055683 BTC on cryptocurrency exchanges. Over the last week, Avalanche has traded 4.5% higher against the US dollar. Avalanche has a market cap of $13.04 billion and approximately $396.53 million worth of Avalanche was traded on exchanges in the last day.

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

• NEAR Protocol (NEAR) traded down 2.3% against the dollar and now trades at $7.03 or 0.00011425 BTC.
• Internet Computer (ICP) traded 2.5% lower against the dollar and now trades at $12.12 or 0.00019699 BTC.
• Hedera (HBAR) traded 0% higher against the dollar and now trades at $0.11 or 0.00000175 BTC.
• Cosmos (ATOM) traded 2.6% higher against the dollar and now trades at $9.19 or 0.00014945 BTC.
• Cronos (CRO) traded 0.6% higher against the dollar and now trades at $0.13 or 0.00000205 BTC.
• Fetch.ai (FET) traded 7.6% lower against the dollar and now trades at $2.19 or 0.00003553 BTC.
• Algorand (ALGO) traded 0.2% higher against the dollar and now trades at $0.19 or 0.00000307 BTC.
• Akash Network (AKT) traded 7% lower against the dollar and now trades at $4.28 or 0.00006975 BTC.
• Theta Fuel (TFUEL) traded 0.5% higher against the dollar and now trades at $0.11 or 0.00000178 BTC.
• Kava (KAVA) traded up 0.3% against the dollar and now trades at $0.66 or 0.00001069 BTC.

About Avalanche

AVAX uses the hashing algorithm. Its launch date was September 21st, 2020. Avalanche’s total supply is 439,304,277 coins and its circulating supply is 380,614,637 coins. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here. 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. The official message board for Avalanche 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 possible to buy alternative cryptocurrencies such as Avalanche directly using U.S. dollars. Investors seeking to trade Avalanche should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Avalanche using one of the exchanges listed above.

AVAX/USD price chart by TradingView