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Avalanche

AVAX

Avalanche Market Stats

Avalanche Price

$22,014.48

Avalanche Price Change (24H)

$22,014.48

Avalanche Price (24H Low)

$22,014.48

Avalanche Price (24 High)

$22,014.48

Avalanche Price (All Time High)

$22,014.48

Avalanche Market Cap

$22,014.48

Avalanche Volume (24H)

$22,014.48

Avalanche Circulating Supply

$22,014.48

Avalanche Price Live Data

The live [Bitcoin] price today is [$20,014.48] with a 24-hour trading volume of [$44.6b]. The [BTC] price is updated in real-time. [Bitcoin] is [up/down] [45.77%] in the last 24 hours. The current [Bitcoin] live market cap is [$189,3B] with a circulating supply of [121.3M] [BTC] coins and a max supply of [21,000,000] [BTC] coins.

Looking to buy [Bitcoin] at the current rate? The best cryptocurrecny exchanges for trading for [Bitcoin] stocks and coins are Bitbuy, CoinSmart, NetCoins, Netwon, and Crypto.com; you can find other [Bitcoin]-[BTC] exchanges on our best crypto exchange, best crypto exchange in Canada and best crypto exchange in the USA pages.

What is Avalanche (AVAX)?

Avalanche (AVAX) is a cryptocurrency that fancies itself the biggest competitor to Ethereum. This blockchain is another platform for Decentralized Finance (DeFi), created to counter the drawbacks of Ethereum. 

This platform is much faster (capable of handling 4500 transactions per second), costs much less for transactions, and is eco-friendly. It’s a great solution to the world’s finance system due to its capability of making rapid transactions. This blockchain is also an open-source platform, enabling people to contribute to its code.

The network is one of the largest DeFi-supporting blockchains after Ethereum and Binance. Besides this, the platform also has interests in the metaverse. Hence, they also support metaverse investments. They believe it would be a shame if a cheap network doesn’t support virtual reality and blockchain-based games.

Since this platform seeks to supersede Ethereum, it’s also compatible with many Ethereum dApps. Users can use it to launch DeFi applications, ERC-20 tokens, assets, etc.

AVAX is the native token of this network, which makes it the basic unit of account on the Avalanche blockchain. Its also used to secure the network and pay for transactions across the network.

Avalanche Coin - Comparewise

Who Created Avalanche (AVAX)?

The brain behind Avalanche (AVAX) is Emin Gün Sirer, a Turkish-American computer scientist who launched the network in 2020. He is a Computer Science professor from Cornell University in Ithaca, New York. The plan to develop Avalanche got proposed in 2018 by Team Rocket (which now goes by the name Ava Labs).

How does Avalanche (AVAX) Work?

Avalanche (AVAX) works using the Avalanche Consensus Protocol, based on the Nakamoto and the Classical protocol. The Nakamoto Protocol (bearing the same name as Bitcoin founder Satoshi Nakamoto) offers a scalable, decentralized, and robust blockchain. Like the Bitcoin blockchain, it’s also costly to run and isn’t fast either.

The Classical Protocol is the opposite of the Nakamoto Protocol. Hence, it’s fast and cheap. However, it’s neither scalable nor robust like the Nakamoto Protocol. As such, Avalanche was built to combine all the advantages of these protocols, making it fast, cheap, scalable, and robust.

Hence, the Avalanche blockchain is built on three chains:

  • Contract chain (C-chain): This creates smart contracts and uses the Snowman consensus protocol.
  • Exchange chain (X-chain): This manages blockchain assets and uses the Avalanche consensus protocol.
  • Platform chain (P-chain): This coordinates validators on the blockchain and uses the Snowman consensus protocol.

The Avalanche Consensus Protocol uses a proof-of-stake mechanism, so users validate transactions using their stakes in the network. Users need to stake their cryptocurrency (not selling or trading it) to gain a right to participate in validating transactions.

Users who participate in the staking consensus also receive incentives for their work. The faster they validate transactions, the more they earn.

Similar to Bitcoin, congestion on the Avalanche blockchain can affect the rate of transaction fees. However, users can also vote to decide on what the transaction fee is going to be. After each transaction, the fees get removed from circulation (burned) to make the digital coin scarcer over time.

Is Avalanche (AVAX) a good investment?

Although Avalanche claims to be strong competition for Ethereum, it’s not the only competition out there. This blockchain is just a few years today, making it very young.

Although Emin just created Avalanche in 2020, there has been a surge in value since its inception. While its young age isn’t much to go by for future analysis, there’s hope in its capabilities.

Avalanche has been dubbed the ‘Ethereum killer’ by many investors since it offers similar services to Ethereum. The good part is that it’s also faster and offers these services for less. Hence, if people keep looking for a cheaper Ethereum alternative, Avalanche will still be valuable.

FAQs about Avalanche (AVAX)

How many Avalanche (AVAX) coins are there?

The maximum value of AVAX that can circulate is 720 million tokens. Although new coins are still minted, they can never exceed this value. Those staking through this blockchain are the ones that get to decide how fast these new coins are minted.

How is Avalanche (AVAX) Secured?

The Avalanche blockchain is secured using its AVAX token and the random nature of its consensus algorithm.

What can you use Avalanche (AVAX) for?

The Avalanche token serves as a means of payment for transactions on the network and to stake (pledge cryptocurrency) on the network.

Avalanche News

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Best Avalanche Wallets

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Avalanche Analysis

Avalanche (AVAX) Analysis

Avalanche came into the cryptocurrency market in 2020, and it experienced lots of ups and downs after this. This cryptocurrency dropped to $2.79 in February 2021 and rose to $146.22 in November 2021. The drop in value occurred due to a coding bug when the platform was five months old.

However, it also rose well that same year after the coding bug was resolved. As such, investors wonder what later years would look like for this coin.

It is predicted that a long-term investment is required for individuals who wish to benefit from this coin. They peg the future value of Avalanche to be $176.255 by July 2027.

Experts and analysts also believe that things will move positively for Avalanche in the next few years. Due to the security of this platform, its scalability, and its wallet features, they believe it will reach $67 in 2024.

In 2025, this coin will probably get famous in many communities, gaining a significant market cap and volume. Hence, Cryptonewsz believes an appropriate focus on innovations and outreaches would push Avalanche to $83. As long as the market remains favorable, they see this digital coin reaching $90 in 2026.

Analysis Q&As

What is Avalanche price today?

Avalanche price today is [price] within 24-hour trading volume of [Volume].

What was the highest price for Avalanche?

Avalanche hit an all time high of [All High].

What was the lowest price for Avalanche?

Avalanche had an all time low of [All Low].

What was the 24 hours trading volume of Avalanche?

The 24 hour trading volume of Avalanche is [Volume].

Where can Avalanche be traded?

You can trade Avalanche on Crypto.com, Kraken, Binance, and FTX. The popular trading pairs for Avalanche in the market includes AVAX/USD, Avalanche/CAD, Avalanche/EUR, Avalanche/GBP, and Avalanche/AUD. Avalanche is a token that is related to the Avalanche, DeFi... categories.

What exchange is Avalanche on?

Online traders can buy or sell Avalanche (AVAX) on the top crypto exchange, such as Crypto.com, Kraken, Binance, and FTX.

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Avalanche Technicals

See Comparewise coin rating definitions for more information.

Avalanche Price Statistics
Avalanche Price Today

08/16/2022

Avalanche Price

$22,014.48

Avalanche Price Change (24H)

$22,014.48

Avalanche Price (24H Low)

$22,014.48

Avalanche Price (24H High)

$22,014.48

Avalanche Price (All Time High)

$22,014.48

Avalanche Market Cap

$22,014.48

Avalanche Volume (24H)

$22,014.48

Avalanche Circulating Supply

$121.3M

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