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Cryptocurrencies/Coins/Avalanche (AVAX)
Avalanche price, market cap on Coin360 heatmap

Avalanche(AVAX)

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$13.3941
(3.33%)
0.00078916 BTC
Market Cap (Rank#19)
$4,153,601,736
244,724 BTC
Vol 24h
$62,471,495
3,681 BTC
Circulating Supply
310,107,348.43
Max Supply
720,000,000
10h agocoindesk
Avalanche-Based DEX Trader Joe to Soon Deploy on Ethereum Scaling Solution Arbitrum
Trader Joe locks up over $95 million worth of tokens as of Friday and is among the most popular Avalanche-based products.
18h agocointelegraph
Trader Joe takes its first step into the Ethereum ecosystem
Despite the new multi-chain vision, the Trader Joe team confirmed that its “true home” and “top priority for all growth efforts” will continue to be on Avalanche.
1 day agocryptodaily
SubQuery Announces Integration with Flare Network
Dubai, UAE, 1st December, 2022, ChainwireSubQuery is excited to announce it has extended its data indexing support to Flare Network, the blockchain that aims to connect everything. The partnership was made possible after SubQuery received a grant from the Flare Ecosystem Support Programme. Flare is a blockchain which presents developers with a simple and coherent stack for decentralized interoperability, allowing dApps to serve multiple chains through a single deployment. This cross-chain approach is consistent with SubQuery’s continuous effort to become the universal blockchain indexing tool for web3 developers. Flare supports EVM-based smart contracts, and has data and interoperability infrastructure built natively into the blockchain, providing dApps with highly decentralized price feeds and secure state acquisition from other blockchains. Flare is also building the capability to create decentralized, multilateral and insured bridges between different blockchain networks to achieve trustless interoperability. Hugo Philion, Flare Co-founder & CEO, said, “We admire SubQuery's decentralized data indexing solutions and are excited for them to launch on Flare mainnet. This will complete another important piece of Flare's developer engagement strategy." SubQuery provides decentralised data indexing infrastructure to developers building applications on multiple layer-1 blockchains including the Cosmos ecosystem, Polkadot, Algorand and Avalanche. As an open data indexer that is flexible and fast, it helps developers build APIs in hours and quickly index chains with the assistance of dictionaries (pre-computed indices). Engineered for multi-chain applications, SubQuery allows developers to organize, store, and query on-chain data for their protocols and applications. SubQuery eliminates the need for custom data processing servers, helping developers focus on product development and user experience. “We’re proud to be supporting teams building on Flare Network with our fast, flexible and universal indexing solution. We are excited to deliver another integration that enables Flare developers to index their data faster and easier, and build complex dApps with the help of SubQuery.” — Marta Adamczyk, Technology Evangelist at SubQuery Flare Network developers will benefit from the full SubQuery experience, including the open-source SDK, tools, documentation, developer support, and other benefits developers receive from the SubQuery ecosystem. Additionally, Flare Network is accommodated by SubQuery’s managed service, which provides enterprise-level infrastructure hosting and handles over 400 million requests each day. SubQuery is now focused on launching the Kepler canary network before decentralising and tokenizing the protocol to build the SubQuery Network. If you would like to join SubQuery as a Flare launch partner, please reach out to [email protected] Getting Started The best way is to start with our starter project which contains a running project with an example of all mapping functions. You'll need to install a recent version of @subql/cli via npm i -g @subql/[email protected] If you don't want to see a kitchen sink example, you can follow a step by step guide on how to create a real world example. Follow our quick start tutorial to see how to index all Flare FTSO Rewards on the Songbird network in less than 15 minutes. With SubQuery's Flare integration, we can index the following: BlockHandler: All blocks and their hash and height TransactionHandler: All transactions and their hash, height, and timestamp LogHander: Logs and other on chain messages as a result of transactions made SubQuery's Flare implementation has been designed to operate almost identically to SubQuery's Avalanche, Polkadot, Cosmos, and Algorand support, and in a similar way to the Graph's approach. We've updated the SubQuery Documentation to add Flare specific information. You can begin by following this excellent getting started guide here. Key Resources Developer documentation (SubQuery Academy) Starter project (Github) Example project that indexes FTSO rewards Discord community (including technical support) About Flare Network Flare is a blockchain built to connect everything. It presents developers with a simple and coherent stack for decentralized interoperability, allowing developers to serve multiple communities and ecosystems simultaneously through a single deployment. Flare’s protocols now provide: Scalable EVM-based smart contracts. Highly decentralized price feeds. Secure state acquisition from other blockchains. Flare and ecosystem partners are also building: Insured smart contract token bridging. Non-smart contract token bridging. Secured data relay. Horizontal scaling through a fully interoperable multi-chain ecosystem. Website | Twitter | Discord About SubQuery SubQuery is a blockchain developer toolkit facilitating the construction of Web3 applications of the future. A SubQuery project is a complete API to organise and query data from Layer-1 chains. Currently servicing Polkadot, Avalanche, Algorand, and Cosmos projects, this data-as-a-service allows developers to focus on their core use case and front-end without wasting time building a custom backend for data processing activities. In the future, the SubQuery Network intends to replicate this scalable and reliable solution in a completely decentralised manner. ​​Linktree | Website | Discord | Telegram | Twitter | Matrix | LinkedIn | YouTube ContactDan [email protected]
2 days agocryptodaily
Utherverse Partners with Tokensoft to Launch IDO for Native Metaverse Token
New York, NY, 30th November, 2022, ChainwireUtherverse, one of the largest metaverse platforms in the world, has signed a partnership agreement with Tokensoft, the leading technology platform for launching digital assets. The deal will facilitate the first and second presale rounds of Uther Coin (UTHX) as part of the token’s initial decentralized offering (IDO). Uther Coin will be the primary token used for transactions throughout the next generation Utherverse Software Platform. Utherverse powers one of the most popular and advanced metaverses ever built. As such, Uther Coin will be needed by everyone accessing the preeminent metaverse. “Tokensoft has proven itself a credible resource for IDOs that delivers on its promises and the recent launch of its Web3-enabled platform makes it one of the strongest performers out there,” said Brian Shuster, founder and CEO of Utherverse. “We are anticipating a tremendous response to Uther Coin from our international community. Utherverse is going to significantly change the metaverse landscape and our coin will likely be a top performer among IDOs as we approach the launch of the Utherverse.” As part of the agreement, a pre-sale of Uther Coin will be made available to buyers outside the United States and Canada beginning December 1. Interested persons should go to https://www.utherverse.io/UTHX to get approved and listed for the sale. Founded in 2017, Tokensoft is a technology platform for creating and managing digital assets, based in Austin, Texas. The Tokensoft platform helps customers comply with applicable regulations internationally to access a global user base. To date, Tokensoft has helped create over $18 billion in market capitalization with projects such as Avalanche, The Graph and Moonbeam. Utherverse is a metaverse platform that enables developers to build interconnected virtual worlds, provides hyper-realistic immersive experiences for consumers and opportunities for companies to market and monetize their products and services. Utherverse generates revenue from custom metaverse building services, sales of NFTs and a variety of business verticals including advertising/marketing, shopping/retail, conferences/conventions, education, dating, lifestyle, entertainment events/performances, VIP experiences and virtual offices. About Utherverse The Utherverse platform was launched in 2005 by internet visionary Brian Shuster. A beta version of the next generation Utherverse platform is expected to launch in early 2023. The platform has served 50 million+ users with 32 billion+ virtual commerce transactions. Utherverse has developed the technology and received more than 40 patents critical toward operating large-scale metaverses. The company is based in British Columbia, Canada. More information can be found online at Utherverse.io For more information please visit/follow us on: Twitter Instagram Facebook LinkedIn Telegram Discord: Utherverse.ioContactSteve HonigThe Honig Company, [email protected]
3 days agocryptopotato
Zeeve Adds Support for Avalanche Subnets and Upgrades Its Web3 Infrastructure Stack
[PRESS RELEASE – Santa Monica, United States, 29th November 2022] Zeeve, the leading web3 infrastructure automation platform, has added support for Avalanche Subnets, an app-specific custom blockchain solution that lets anyone create their own L1 chain optimized for their needs. Zeeve aims to make the web3 development experience simpler and more efficient for users. Adding […]
10 days agonulltx
Avalanche Coin Price Analysis & Prediction (Nov 21st) – AVAX Moving Sideways After Huge Loss: What Will Happen Next?
Avalanche’s price slipped beneath the solid $13.9 level following last week’s market collapse. Since then, the price has been struggling below this mentioned level as it found temporal support at $12. Last week, Avalanche recovered to a $16 high after the price slipped to a $12 low. The price later rolled back to the weekly […] The post Avalanche Coin Price Analysis & Prediction (Nov 21st) – AVAX Moving Sideways After Huge Loss: What Will Happen Next? appeared first on NullTX.
11 days agocryptodaily
Bitcoin.com Promotes Self-Custody With Rewards For FTX Victims
Source: Depositphotos The recent collapse of the FTX exchange caused thousands of crypto users to lose millions of dollars in value, and did untold damage to the wider cryptocurrency ecosystem. But it wasn’t crypto itself that was at fault, but rather the centralized nature of FTX’s business model. That’s the message Bitcoin.com is aiming to get across with its latest initiative, the CEX Education Program, which was announced at the weekend. Moreover, to encourage users to move away from centralized platforms and adopt self-custody of their crypto assets, it’s offering anyone who lost money at FTX, or other platforms that collapsed recently - such as BlockFi, Voyager and Celsius - some compensation in the form of its own VERSE token. While Bitcoin.com obviously can’t cover everyone’s losses, it’s hoped that the VERSE tokens will at least provide some relief. Most of all, it’s hoped that the handout will encourage users to take full custody of their crypto assets in future, and prevent the kind of painful losses experienced by FTX’s users from happening again. The collapse of FTX was one of the most painful episodes in crypto’s long and turbulent history. It’s not clear exactly how many victims there are or how much people are owed, but the most recent reports suggest that FTX owes its biggest creditors more than $3.1 billion. Unfortunately those users are unlikely to recover everything they have lost. It has been widely reported that FTX’s management was guilty of recklessly mismanaging its users funds, and millions of dollars have likely been lost on poor investments. It was the centralized nature of FTX that made this possible. Despite being focused on cryptocurrency, FTX’s business model was really no different from that of traditional banks. It was in the business of making money, and its dealings were completely opaque. Users who deposited money in FTX were essentially giving them full control over their funds, as the exchange held the private keys to their wallets. When it came to the crunch, FTX simply didn’t have enough funds on hand to pay everyone back when rumors of its lack of liquidity surfaced. It was forced to declare bankruptcy as a result.Dennis Jarvis, CEO of Bitcoin.com, spelled out the dangers of trusting centralized platforms. “Lack of transparency in the centralized model, whether it be in crypto or tradfi, is an enabler for the gross mismanagement of customer funds and, in some cases, blatant fraud,” he said. The CEO explained that while centralized platforms like FTX masquerade as crypto companies, their main focus is on separating users from their crypto assets. The model goes against the entire ethos of crypto, he said, which is all about empowering people to take control of their financial assets. “The CEX Education Program is an effort to provide the incentives needed to encourage the transition away from risky centralized exchanges to self-custody, where the real benefits of this technology lie,” Jarvis said. The CEX Education Program aims to educate people about the need for self-custody of their crypto assets. It encourages users to adopt a non-custodial wallet, such as Bitcoin.com’s Wallet, which allows users to control their private keys. So long as users have the private key in their possession, they’ll always be able to access their crypto holdings, even if their existing wallet becomes inaccessible. They can simply use another wallet, enter the private key, and their tokens will be available there instead. To incentivize users to take back control, Bitcoin.com is inviting victims of FTX and other platforms to sign up at getverse.com and receive a free reward in the shape of VERSE tokens. VERSE is the utility token for the Bitcoin.com ecosystem, and provides holders with a way to earn additional rewards for holding, buying, selling, trading and using cryptocurrency, and also vote on matters of governance. Bitcoin.com said it is dedicating 5% of the total supply of VERSE to the CEX Education Program. The rewards will become available in December when the token launches. Jarvis said the FTX episode was extremely unfortunate due to the damage done to the crypto industry. He said many users who got burned will likely leave the crypto space for good, while others who were on the sidelines will likely stay away for good. “That's a real shame because decentralized finance is a force for good,” Jarvis promised. “Bitcoin.com has decided to do something about this situation that will extend some sort of recompense, promote the foundational tenets of self-custody and DeFi, and help build back this industry stronger than ever.” Hopefully, Jarvis’s message will not fall on deaf ears. Bitcoin.com is one of the largest crypto ecosystems in the business, with more than 35 million registered Bitcoin.com wallets across five blockchains, including Bitcoin, Ethereum, Avalanche and Polygon. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
17 days agocryptodaily
MarketAcross Joins Polkastarter Gaming & Web3 Stalwarts For Pioneering GAM3 Awards
Tel Aviv, Israel, 15th November, 2022, ChainwireFirst-of-its-kind Web3 gaming event to connect the community, gaming studios, and influential industry participants to reward selected winners from over 200 games for 16 unique categories Echoing the rapid growth of blockchain-based gaming and rising investment inflows, Polkastarter will be hosting the first-ever GAM3 Awards to showcase the industry’s progress in constructing engaging, entertaining Web3 games. To handle the award show’s coverage, publicity, and promotion, MarketAcross is collaborating with Polkastarter and other leading industry participants as the event’s official media partner. Slated for a Twitch broadcast on December 15, 2022, the GAM3 Awards are designed to highlight the best Web3 games delivering a fun and engaging experience for players instead of concentrating on token economies and gamification typical of blockchain gaming titles. The event’s judges will evaluate over 200 Web3 games across 16 categories before doling out $300,000 in prizes to the winning teams. Prizes are sponsored by a consortium of crypto’s biggest names, including the Blockchain Game Alliance, Immutable X, Machinations, and Ultra, among others. Besides its role as the official event media partner, MarketAcross Managing Partner Itai Elizur will be serving as a judge on the awards panel. He will join over 30 other industry creators, investors, and experts who command extensive experience across both the Web2 and Web3 gaming landscapes to evaluate the nominated projects based on the quality of their gaming experiences before voting for the winners. The community and studios will also participate in selecting winners in award categories such as People’s Choice, Games’ Choice, and Best Content Creator. Joining the judging process are Ancient8 Co-Founder Nathan N, Animoca Brands Senior Manager Jesper Lindquist, Avalanche Head of Gaming Edward Chang, Avocado DAO CEO Brendan Wong, BNB Chain Business Development Director John Izaguirre, Fractal Founder Justin Kan, Lv.99 Co-Founder Yoshihisa Hashimoto, Polygon Studios Head of Global Games Urvit Goel, Sfermion General Partner Dan Patterson, Solana Foundation Tech & Product Leadership Matt Sorg, YGG Head of Partnerships Sarutobi Sasuke, and many others. MarketAcross Managing Partner Itai Elizur concludes, “The success of Web3 gaming ultimately depends on competing with AAA gaming titles to attract and engage a broader gamer audience. We truly appreciate the approach the GAM3 Awards embodies of basing awards on gameplay instead of tokenomics. While many play-to-earn titles are entering the space, we argue that any Web3 gaming triumph will be the function of great storylines, stunning graphics, and engaging gameplay, which is why this event’s core philosophy is so indispensable.” “We called it the “GAME” awards, with a 3, to keep the focus on the actual games themselves, get rid of the web3 jargon and negative connotation, while still paying tribute to the underlying web3 tech that we believe will help shape the future of gaming. The GAM3 Awards is set to highlight the high quality of web3 games in the space and showcase the true potential of blockchain technology integration, without jeopardizing the quality of the games themselves.” stated Omar Ghanem, Head of Gaming at Polkastarter. About MarketAcross Established in 2013, MarketAcross is an accomplished public relations and marketing firm offering superior global coverage to ambitious blockchain-based projects. Through its ongoing efforts, MarketAcross has collaborated with the industry’s leading exchanges and blockchains, including Binance, Polkadot, Polygon, and Solana. In addition to helping clients advance their missions through awareness campaigns, MarketAcross positions clients in front of relevant cryptocurrency and blockchain audiences worldwide. About GAM3 Awards GAM3 Awards 2022 is the inaugural edition of the annual web3 gaming awards. Hosted by Polkastarter Gaming, Polkastarter’s first step at reimagining the future of blockchain gaming, which has grown to a community of over 70,000 gamers across the globe. The awards celebrate the highest quality web3 games, with the event boasting industry leaders, ecosystems and media outlets and rewards the top games developers and content creators with monetary prizes and services valued at over $300,000. Learn more: Website | Twitter | Discord | Twitch | YouTubeContactDan [email protected]
18 days agocryptodaily
Cardano (ADA) and Avalanche (AVAX) Owners Place Their Bet on the Hideaways (HDWY)
Cardano (ADA) and Avalanche (AVAX) are two of the most trustworthy and safe virtual currencies. Important advancements are supporting ADA and AVAX, which places both coins on the pedestal. With these cryptocurrencies, there are still solid prospects for quick gain. The Hideaways (HDWY), one of the newest cryptocurrencies, is swiftly overtaking them. Cardano Prices Drops Aggressively Cardano (ADA) is a proof-of-stake blockchain platform created to make better opportunities for crypto investors. According to the layered blockchain developers, who hope to simplify this process, decentralized applications and smart contracts can already be easily created. One ADA token is now worth $0.378537, a decrease of 2.2% over the previous 24 hours. Recently, the price of ADA increased by 5%. However, unexpected growth is less common, so expect the coin to decline aggressively. Major cryptocurrency investors' investment plans have been thrown off by the current status of the Cardano network. Many investors swiftly decided not to invest in a coin after witnessing most of their investments sink this year. Avalanche Struggles To Surge A well-known blockchain technology that supports smart contracts is called Avalanche (AVAX). Avalanche (AVAX) received widespread acceptance soon after its initial introduction. But soon, Avalanche's (AVAX) rapid expansion encountered opposition. AVAX had more than 40% monthly losses in Q1 of 2022 and more than 50% in Q2, which made up most of the losses due to the deteriorating economic climate and the collapse of the Terra ecosystem. AVAX is at $15.66, down from $17.68, a loss of 7.2% over the past 24 hours. There are no indications that the price fall of Avalanche (AVAX) has reached a bottom yet, so it will probably continue. 2023 Is The Hideaways’ Year - Easy 9000% Gain Incoming The Hideaways (HDWY) is developing the first platform in the world for investing in luxury real estate, enabling investors to purchase a varied portfolio of prestigious homes. According to analysts, the project's market value is expected to increase to $900 million by the time it is finished in 2023. The liquidity of the tokens will be frozen for 999 years as a result of a SolidProof audit of The Hideaways, and for the following two years, the development team won't be able to sell tokens. Some analysts anticipate that HDWY tokens will cost around $2.7 by June 2023, up from their current presale price of about $0.072. Experts believe this could be a great investment opportunity. Get your HDWY tokens and discover more opportunities for real-estate investment by clicking on the links below: Website: https://www.thehideaways.io/ Presale: https://ticket.thehideaways.io/register Telegram: https://t.me/thehideawayscrypto Twitter: https://twitter.com/hdwycrypto Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
20 days agocoindesk
Tether Blacklists Mysterious FTX Wallets as Account Drainer Liquidates MATIC, LINK, AVAX Holdings
The exchange’s public wallets hold just over $52,000, data shows.
22 days agocryptodaily
Presale King, Big Eyes Coin is Set to Outshine Cardano and Avalanche
In recent months, cryptocurrency sales haven't been as strong as they could have been, which has had an impact on the market capitalization of many leading coins including Bitcoin (BTC) and Ethereum (ETH). It is challenging for investors to decide which cryptocurrency to invest in due to the ambiguity surrounding crypto currencies. There is something to look forward to in the cryptocurrency scene, though, with altcoins like Big Eyes (BIG) trending in the last few weeks. The newest cryptocurrency to enter the market is called Big Eyes Coin (BIG). Since its initial presale in August, the meme coin has continued to make headlines. Big Eyes Coin is currently on its third presale and has made almost $4 million. One of the finest choices for investors will be the coin based on Ethereum. Keep reading to see what the token has in store for investors. Cardano (ADA) The Public Blockchain Platform Cardano (ADA) is a decentralized public blockchain platform. It is the third-generation cryptocurrency after the first- and second-generation coins, Bitcoin and Ethereum. Developers of the Cardano (ADA) platform are putting a lot of effort into expanding the platform's use cases. The native cryptocurrency of the Cardano network, ADA, is presently ranked eighth on CoinMarketCap. Even though the platform presently handles more than 80,000 transactions each day, there is room for growth. Cardano (ADA) is a blockchain platform for smart contracts that is scalable, flexible, and adaptable. It enables the development of a number of decentralized financial applications, new cryptocurrencies, games, and other software. Despite recent declines in the crypto market, Cardano (ADA) has remained one of the most popular altcoins. Avalanche (AVAX) The Well Known Blockchain Platform Avalanche (AVAX) is a well-known blockchain platform that makes the ideal environment for private blockchain networks and decentralized applications (dApps). Avalanche (AVAX) can process up to 6,500 additional transactions per second (tps) without compromising scalability. One of the few blockchain networks that can compete with Ethereum in terms of speed and performance is Avalanche (AVAX). Avalanche (AVAX) has three built-in blockchains, each of which serves a particular purpose. The Exchange Chain on the Avalanche network enables money transfer and receipt (X-Chain). The Contract Chain (C-Chain) and Performance Chain (P-Chain) are two others. Its own cryptocurrency, AVAX, is crucial to its operation because it makes it possible to perform several operations such transactions, network management, and staking. Big Eyes (BIG) The New Meme Coin Big Eyes Coin (BIG) is a community-driven initiative that makes use of NFT technology and a mascot with a cat motif to enhance wealth in DeFi. Every season, this project with a cat motif focuses the neighbourhood by offering NFT and token rewards. NFT technology is the true growth engine for this endeavour. Numerous contests are held by Big Eyes Coin (BIG), including the present Gleam contest, where anyone can win $250,000. Big Eyes Coin (BIG) will increase its investor base through competitions, and 5% of its total token supply will be allocated to marketing and media attention. The marketing is already working, as can be seen. A sizable group that enjoys having fun and exchanging internet memes is well recognized for Memecoins. Given the involvement of the project's stakeholders in the DAO, the community can produce the drive needed to elevate Big Eyes Coin to incredible heights. Big Eyes Coin has created a community through social media that enables the growth of a narrative. Due to the project's intense community focus and quick development, there has been a lot of hype surrounding it. The opportunity to purchase the token is limited as the Stage 3 presale draws to a close. To gain the bonus tokens, use the code: BUYEYES497 Big Eyes Coin (BIG) Presale: https://buy.bigeyes.space/ Website: https://bigeyes.space/ Telegram: https://t.me/BIGEYESOFFICIAL Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

About Avalanche

The live price of Avalanche (AVAX) today is 13.3941 USD, and with the current circulating supply of Avalanche at 310,107,348.43 AVAX, its market capitalization stands at 4,153,601,736 USD. In the last 24 hours AVAX price has moved -0.276 USD or -0.02% while 52,267,460 USD worth of AVAX has been traded on various exchanges. The current valuation of AVAX puts it at #19 in cryptocurrency rankings based on market capitalization.

Learn more about the Avalanche blockchain network and how it works or follow the price of its native cryptocurrency AVAX and the broader market with our unique COIN360 cryptocurrency heatmap.

Since its mainnet launch in 2020, Avalanche has emerged as a notable contender to Ethereum, the largest smart contract-focused blockchain. Avalanche network, with its native cryptocurrency AVAX, aims to directly tackle Ethereum’s biggest weaknesses — speed and scalability. Using AVAX, it takes less than two seconds to finalize transactions, compared to 6 minutes on ETH and 60 minutes on BTC. It also has a higher transaction throughput — handling around 6,500 transactions per second (TPS) compared to 15-20 TPS on Ethereum. 

Launched by the New York-based Ava Labs, the Avalanche network contains three individual blockchains — the Exchange Chain (X-Chain)  which enables the creation and trading of the native token AVAX and other cryptocurrencies, the Contract Chain (C-Chain) which hosts the decentralized applications ecosystem, and the Platform Chain (P-Chain) which coordinates between network validators. 

AVAX price 

According to our AVAX USD live price chart, AVAX coin saw its first major spike at the start of 2021, when it went from around $3 on Jan. 1 to over $60 by Feb. 10, 2021. That 1,900%+ rally also marked a new all-time high for AVAX, but was soon followed by an 84% drop.

However, the price of AVAX rose again when market sentiment flipped bullish in September, and Avalanche network's native coin went on to set a new all-time high of $147 in November 2021 — marking another 1,400% gain from mid-year lows, and achieving a market cap of more than $30 billion.

While market woes that followed saw AVAX price drop in line with the broader risk-off sentiment, Avalanche’s DeFi ecosystem remained healthy, with the total value locked (TVL) in Avalanche's DeFi protocols ranging around the $10 billion mark throughout Q1, 2022. That being said, AVAX is far from being an "Ethereum killer", as it is often termed.

Future movements and AVAX price predictions depend primarily on how successfully Avalanche manages to capture market share from Ethereum and other competitors, such as Solana (SOL), Polkadot (DOT) and Cardano (ADA) etc.

How AVAX works

Like Ethereum, AVAX coin is used to pay for transaction fees on the Avalanche network. However, in the case of Ethereum, the transaction fee is partly burned and partly used to reward miners, while on Avalanche, the entire transaction fee is burned. AVAX holders can also stake their tokens, either individually or in a pool, to become network validators.  

The total supply of AVAX is capped at 720 million and the X-Chain, where the tokens are traded, uses the Avalanche consensus mechanism. In this mechanism, all nodes process and validate transactions simultaneously and random polling of validators ensures that the transactions are correct.

Avalanche also supports what are known as subnets, which can host independent blockchains, all of which can have customized parameters, including their consensus mechanisms and access permissions.

AVAX news, updates and highlights

Avalanche has been very active in terms of partnerships and growth initiatives. In 2021, Avalanche struck deals with payments giant MasterCard, and audit, tax, and consulting firm Deloitte. In August 2021, AVAX launched a $180 million DeFi incentive program called ‘Avalanche Rush’ that attracted DeFi leading protocols Aave (AAVE) and Curve (CRV)

A month later, the blockchain raised $230 million from the private sale of its AVAX tokens to crypto funds, and within two months, Avalanche launched a $220 million growth fund targeting DeFi and non-fungible tokens (NFTs). 

At the Avalanche Summit in March 2022, Ava Labs' product head Nick Mussallem announced two major updates for the network — a native wallet called ‘Core’ and a bridge to the Bitcoin network. Both updates aim to boost Avalanche’s DeFi ecosystem. 

Frequently asked questions about AVAX

  • Can you mine or stake AVAX?

Since Avalanche follows its own consensus mechanism, which is similar to proof-of-stake, AVAX coins cannot be mined. However, AVAX coin holders can stake their tokens to become network validators and receive rewards in AVAX tokens. Users need to stake at least 2,000 AVAX tokens to become validators, or pool their tokens with others and share the rewards. 

  • What are some of the best AVAX wallets?

AVAX can be stored in the Avalanche web wallet, AVAX chain configured on MetaMask, and Trust Wallet, as well as hardware wallets like Ledger and Trezor, among others. 

  • What can you do with AVAX?

You can use AVAX tokens to pay for transactions on the Avalanche network, trade them against other cryptocurrencies like BTC or ETH, stake them for rewards or hold them for governance rights.

  • How to buy AVAX?

You can buy AVAX by exchanging your BTC, ETH, or USDT tokens with AVAX on exchanges like HitBTC or buy it using fiat currency on exchanges like Nexo. 

Avalanche Price13.3941 USD
Market Rank#19
Market Cap4,153,601,736 USD
24h Volume62,471,495 USD
Circulating Supply310,107,348.43 AVAX
Max Supply720,000,000 AVAX
Yesterday's Market Cap3,998,673,400 USD
Yesterday's Open / Close13.1707 USD / 12.8947 USD
Yesterday's High / Low13.274 USD / 12.8428 USD
Yesterday's Change
-0.02% ( 0.276 USD )
Yesterday's Volume52,267,460 USD
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