Avalanche (AVAX) Market Cap Reaches $9.78 Billion

Avalanche (AVAX) traded 3.7% lower against the dollar during the one day period ending at 16:00 PM E.T. on August 1st. Avalanche has a total market cap of $9.78 billion and approximately $281.11 million worth of Avalanche was traded on exchanges in the last day. Over the last week, Avalanche has traded down 7% against the dollar. One Avalanche coin can currently be purchased for $24.76 or 0.00038901 BTC on major cryptocurrency exchanges.

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

• NEAR Protocol (NEAR) traded 6.3% lower against the dollar and now trades at $4.72 or 0.00007419 BTC.
• Internet Computer (ICP) traded down 5.5% against the dollar and now trades at $8.72 or 0.00013699 BTC.
• Cronos (CRO) traded 1.2% lower against the dollar and now trades at $0.0856 or 0.00000134 BTC.
• Hedera (HBAR) traded down 1.3% against the dollar and now trades at $0.0618 or 0.00000097 BTC.
• Cosmos (ATOM) traded down 3% against the dollar and now trades at $5.65 or 0.00008878 BTC.
• Fetch.ai (FET) traded down 4.2% against the dollar and now trades at $1.10 or 0.00001736 BTC.
• Algorand (ALGO) traded 5.8% lower against the dollar and now trades at $0.13 or 0.00000203 BTC.
• Akash Network (AKT) traded 0.8% lower against the dollar and now trades at $2.84 or 0.00004480 BTC.
• Theta Fuel (TFUEL) traded 3.5% lower against the dollar and now trades at $0.0616 or 0.00000097 BTC.
• Kava (KAVA) traded down 9.9% against the dollar and now trades at $0.36 or 0.00000571 BTC.

About Avalanche

Avalanche (AVAX) uses the hashing algorithm. Its launch date was September 21st, 2020. Avalanche’s total supply is 444,249,924 coins and its circulating supply is 394,903,554 coins. Avalanche’s official Twitter account is @avax and its Facebook page is accessible here. The official message board for Avalanche is medium.com/avalancheavax. 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.

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 US dollars. Investors seeking to acquire Avalanche should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Avalanche using one of the aforementioned exchanges.

AVAX/USD price chart by TradingView