Avalanche Reaches Market Capitalization of $8.09 Billion (AVAX)

Avalanche (AVAX) traded up 9% against the U.S. dollar during the 1-day period ending at 0:00 AM Eastern on August 5th. During the last week, Avalanche has traded 24.5% lower against the U.S. dollar. One Avalanche coin can currently be purchased for about $20.48 or 0.00036775 BTC on popular exchanges. Avalanche has a total market capitalization of $8.09 billion and $824.83 million worth of Avalanche was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed during the last 24 hours:

• NEAR Protocol (NEAR) traded up 2.3% against the dollar and now trades at $3.70 or 0.00006650 BTC.
• Internet Computer (ICP) traded up 8.5% against the dollar and now trades at $7.39 or 0.00013264 BTC.
• Cronos (CRO) traded 6.5% higher against the dollar and now trades at $0.0772 or 0.00000139 BTC.
• Hedera (HBAR) traded 10.7% higher against the dollar and now trades at $0.0549 or 0.00000099 BTC.
• Cosmos (ATOM) traded 9% higher against the dollar and now trades at $4.85 or 0.00008711 BTC.
• Algorand (ALGO) traded 11.2% higher against the dollar and now trades at $0.11 or 0.00000205 BTC.
• Fetch.ai (FET) traded 0.1% higher against the dollar and now trades at $0.84 or 0.00001514 BTC.
• Akash Network (AKT) traded 2% higher against the dollar and now trades at $2.10 or 0.00003833 BTC.
• Theta Fuel (TFUEL) traded 18.4% higher against the dollar and now trades at $0.0542 or 0.00000097 BTC.
• Kava (KAVA) traded 8.2% higher against the dollar and now trades at $0.30 or 0.00000530 BTC.

About Avalanche

Avalanche (AVAX) uses the hashing algorithm. It was first traded on September 21st, 2020. Avalanche’s total supply is 444,401,631 coins and its circulating supply is 395,055,261 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. 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 (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 presently possible to buy alternative cryptocurrencies such as Avalanche directly using US dollars. Investors seeking to acquire Avalanche should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Avalanche using one of the aforementioned exchanges.

AVAX/USD price chart by TradingView