Avalanche Market Cap Hits $14.26 Billion (AVAX)

Avalanche (AVAX) traded up 0% against the U.S. dollar during the 1 day period ending at 23:00 PM ET on May 6th. One Avalanche coin can currently be bought for about $37.47 or 0.00058817 BTC on major cryptocurrency exchanges. Avalanche has a total market cap of $14.26 billion and approximately $564.61 million worth of Avalanche was traded on exchanges in the last day. In the last seven days, Avalanche has traded 7.2% higher against the U.S. dollar.

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

• NEAR Protocol (NEAR) traded up 2.8% against the dollar and now trades at $7.53 or 0.00011812 BTC.
• Internet Computer (ICP) traded 2.3% lower against the dollar and now trades at $12.88 or 0.00020215 BTC.
• Hedera (HBAR) traded 0% higher against the dollar and now trades at $0.11 or 0.00000178 BTC.
• Cosmos (ATOM) traded down 0.2% against the dollar and now trades at $9.38 or 0.00014717 BTC.
• Cronos (CRO) traded down 2.1% against the dollar and now trades at $0.13 or 0.00000205 BTC.
• Fetch.ai (FET) traded up 1.9% against the dollar and now trades at $2.42 or 0.00003798 BTC.
• Algorand (ALGO) traded 0.3% lower against the dollar and now trades at $0.20 or 0.00000307 BTC.
• Akash Network (AKT) traded 3% lower against the dollar and now trades at $4.75 or 0.00007480 BTC.
• Kava (KAVA) traded 1.6% lower against the dollar and now trades at $0.68 or 0.00001067 BTC.
• Theta Fuel (TFUEL) traded 2.9% lower against the dollar and now trades at $0.11 or 0.00000165 BTC.

Avalanche Profile

AVAX uses the hashing algorithm. Its launch date was September 21st, 2020. Avalanche’s total supply is 439,225,848 coins and its circulating supply is 380,536,208 coins. Avalanche’s official message board is medium.com/avalancheavax. The official website for Avalanche is avax.network. 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.

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.”

Avalanche Coin Trading

It is usually not currently possible to purchase alternative cryptocurrencies such as Avalanche directly using U.S. dollars. Investors seeking to acquire Avalanche should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Avalanche using one of the aforementioned exchanges.

AVAX/USD price chart by TradingView