Avalanche Trading 16.8% Lower Over Last 7 Days (AVAX)

Avalanche (AVAX) traded 3.2% lower against the U.S. dollar during the 24 hour period ending at 10:00 AM Eastern on February 1st. One Avalanche coin can now be purchased for approximately $9.84 or 0.00012704 BTC on exchanges. Over the last seven days, Avalanche has traded 16.8% lower against the U.S. dollar. Avalanche has a market cap of $4.25 billion and $629.37 million worth of Avalanche was traded on exchanges in the last day.

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

• Cronos (CRO) traded down 0.1% 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 down 5.5% against the dollar and now trades at $2.64 or 0.00003411 BTC.
• NEAR Protocol (NEAR) traded down 5.7% 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 2.3% lower against the dollar and now trades at $0.19 or 0.00000239 BTC.
• PayProtocol Paycoin (PCI) traded 5.6% higher 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 5.8% lower against the dollar and now trades at $0.36 or 0.00000467 BTC.

Avalanche Coin 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 website is avax.network. The Reddit community for Avalanche is https://reddit.com/r/avax and the currency’s Github account can be viewed here. The official message board for Avalanche 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.”

Buying and Selling Avalanche

It is usually not 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 Changelly, Coinbase or GDAX. 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