Avalanche Market Capitalization Reaches $8.19 Billion (AVAX)

Avalanche (AVAX) traded up 2% against the US dollar during the 1 day period ending at 20:00 PM Eastern on August 17th. One Avalanche coin can now be bought for approximately $20.73 or 0.00034851 BTC on major exchanges. Avalanche has a total market capitalization of $8.19 billion and approximately $100.62 million worth of Avalanche was traded on exchanges in the last day. During the last seven days, Avalanche has traded down 4.3% against the US dollar.

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

• NEAR Protocol (NEAR) traded 0.7% higher against the dollar and now trades at $3.98 or 0.00006695 BTC.
• Internet Computer (ICP) traded up 3.9% against the dollar and now trades at $7.27 or 0.00012230 BTC.
• Cronos (CRO) traded up 0.3% against the dollar and now trades at $0.0884 or 0.00000149 BTC.
• Hedera (HBAR) traded 1.7% higher against the dollar and now trades at $0.0525 or 0.00000088 BTC.
• Cosmos (ATOM) traded up 1.4% against the dollar and now trades at $4.61 or 0.00007751 BTC.
• Algorand (ALGO) traded up 3% against the dollar and now trades at $0.12 or 0.00000200 BTC.
• Fetch.ai (FET) traded up 1.9% against the dollar and now trades at $0.84 or 0.00001408 BTC.
• Akash Network (AKT) traded 0.3% lower against the dollar and now trades at $2.54 or 0.00004276 BTC.
• Theta Fuel (TFUEL) traded 0.2% higher against the dollar and now trades at $0.0557 or 0.00000094 BTC.
• Kava (KAVA) traded 1.1% higher against the dollar and now trades at $0.31 or 0.00000524 BTC.

Avalanche Profile

AVAX uses the hashing algorithm. Its genesis date was September 21st, 2020. Avalanche’s total supply is 444,701,367 coins and its circulating supply is 395,358,236 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 Twitter account is @avax and its Facebook page is accessible here. Avalanche’s official message board is medium.com/avalancheavax.

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