Avalanche (AVAX) Market Cap Hits $2.78 Billion

Avalanche (AVAX) traded up 0.2% against the U.S. dollar during the one day period ending at 9:00 AM Eastern on July 31st. One Avalanche coin can now be bought for approximately $6.43 or 0.00010146 BTC on major exchanges. Over the last seven days, Avalanche has traded 4% higher against the U.S. dollar. Avalanche has a total market cap of $2.78 billion and $199.31 million worth of Avalanche was traded on exchanges in the last day.

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

• Cronos (CRO) traded 1% lower against the dollar and now trades at $0.0547 or 0.00000086 BTC.
• Hedera (HBAR) traded down 0.4% against the dollar and now trades at $0.0678 or 0.00000107 BTC.
• NEAR Protocol (NEAR) traded 0.6% higher against the dollar and now trades at $1.66 or 0.00002620 BTC.
• Internet Computer (ICP) traded 0% higher against the dollar and now trades at $2.06 or 0.00003255 BTC.
• Algorand (ALGO) traded 1% higher against the dollar and now trades at $0.0787 or 0.00000124 BTC.
• Cosmos (ATOM) traded 3.9% lower against the dollar and now trades at $1.24 or 0.00001956 BTC.
• Fetch.ai (FET) traded 2% higher against the dollar and now trades at $0.14 or 0.00000225 BTC.
• Akash Network (AKT) traded down 1.7% against the dollar and now trades at $0.44 or 0.00000688 BTC.
• PayProtocol Paycoin (PCI) traded 2.8% lower against the dollar and now trades at $0.0348 or 0.00000055 BTC.
• Theta Fuel (TFUEL) traded 1.3% lower against the dollar and now trades at $0.0072 or 0.00000011 BTC.

Avalanche Profile

AVAX uses the hashing algorithm. Its launch date was September 21st, 2020. Avalanche’s total supply is 463,441,061 coins and its circulating supply is 431,771,961 coins. 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. 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. Telegram, Discord, Facebook, YouTube, LinkedIn, Meetup, GitHub, Reddit, MediumWhitepaper”

Buying and Selling Avalanche

It is usually not currently possible to buy alternative cryptocurrencies such as Avalanche directly using US dollars. Investors seeking to trade Avalanche should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Gemini 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