Avalanche Reaches Market Capitalization of $11.43 Billion (AVAX)

Avalanche (AVAX) traded up 0.2% against the US dollar during the twenty-four hour period ending at 22:00 PM Eastern on October 16th. Over the last week, Avalanche has traded 8.4% higher against the US dollar. Avalanche has a market cap of $11.43 billion and $335.93 million worth of Avalanche was traded on exchanges in the last day. One Avalanche coin can currently be purchased for about $28.10 or 0.00041584 BTC on major cryptocurrency exchanges.

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

• NEAR Protocol (NEAR) traded down 1% against the dollar and now trades at $4.99 or 0.00007378 BTC.
• Internet Computer (ICP) traded down 2% against the dollar and now trades at $7.92 or 0.00011719 BTC.
• Cronos (CRO) traded 0.3% higher against the dollar and now trades at $0.0786 or 0.00000116 BTC.
• Hedera (HBAR) traded 6.7% lower against the dollar and now trades at $0.0532 or 0.00000079 BTC.
• Cosmos (ATOM) traded down 1.2% against the dollar and now trades at $4.44 or 0.00006571 BTC.
• Fetch.ai (FET) traded 2.3% lower against the dollar and now trades at $1.43 or 0.00002110 BTC.
• Algorand (ALGO) traded down 1.6% against the dollar and now trades at $0.12 or 0.00000183 BTC.
• Akash Network (AKT) traded 2% higher against the dollar and now trades at $2.58 or 0.00003807 BTC.
• Theta Fuel (TFUEL) traded up 1.3% against the dollar and now trades at $0.0629 or 0.00000093 BTC.
• Kava (KAVA) traded 1.7% lower against the dollar and now trades at $0.37 or 0.00000546 BTC.

About Avalanche

Avalanche (CRYPTO:AVAX) uses the hashing algorithm. Its launch date was September 21st, 2020. Avalanche’s total supply is 446,650,575 coins and its circulating supply is 406,647,475 coins. The official message board for Avalanche is medium.com/avalancheavax. 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. The official website for Avalanche is avax.network.

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 currently possible to purchase alternative cryptocurrencies such as Avalanche directly using US dollars. Investors seeking to trade Avalanche should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Avalanche using one of the exchanges listed above.

AVAX/USD price chart by TradingView