Avalanche One Day Trading Volume Hits $629.37 Million (AVAX)

Avalanche (AVAX) traded down 3.2% against the US dollar during the 1 day period ending at 10:00 AM Eastern on February 1st. Avalanche has a total market capitalization of $4.25 billion and approximately $629.37 million worth of Avalanche was traded on exchanges in the last day. One Avalanche coin can now be bought for approximately $9.84 or 0.00012704 BTC on major cryptocurrency exchanges. In the last week, Avalanche has traded down 16.8% against the US dollar.

Here is how similar cryptocurrencies have performed in the last day:

• Cronos (CRO) traded 0.1% lower against the dollar and now trades at $0.0799 or 0.00000103 BTC.
• Hedera (HBAR) traded 2.9% lower against the dollar and now trades at $0.0890 or 0.00000115 BTC.
• Internet Computer (ICP) traded 5.5% lower against the dollar and now trades at $2.64 or 0.00003411 BTC.
• NEAR Protocol (NEAR) traded 5.7% lower against the dollar and now trades at $1.17 or 0.00001507 BTC.
• Cosmos (ATOM) traded down 4.1% against the dollar and now trades at $1.91 or 0.00002469 BTC.
• Algorand (ALGO) traded 2% lower against the dollar and now trades at $0.10 or 0.00000131 BTC.
• Fetch.ai (FET) traded down 2.3% against the dollar and now trades at $0.19 or 0.00000239 BTC.
• PayProtocol Paycoin (PCI) traded up 5.6% against the dollar and now trades at $0.0660 or 0.00000085 BTC.
• Theta Fuel (TFUEL) traded down 1.2% against the dollar and now trades at $0.0157 or 0.00000020 BTC.
• Akash Network (AKT) traded down 5.8% against the dollar and now trades at $0.36 or 0.00000467 BTC.

Avalanche Profile

Avalanche (AVAX) uses the hashing algorithm. Its launch date was September 21st, 2020. Avalanche’s total supply is 463,320,324 coins and its circulating supply is 431,651,224 coins. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here. Avalanche’s official message board 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 website is avax.network.

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 buy alternative cryptocurrencies such as Avalanche directly using U.S. dollars. Investors seeking to acquire Avalanche should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. 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