Avalanche (CURRENCY:AVAX) traded down 3.4% against the U.S. dollar during the twenty-four hour period ending at 22:00 PM Eastern on May 4th. One Avalanche coin can now be purchased for approximately $31.91 or 0.00057813 BTC on popular cryptocurrency exchanges. Avalanche has a total market cap of $4.11 billion and approximately $386.54 million worth of Avalanche was traded on exchanges in the last day. In the last seven days, Avalanche has traded up 11.7% against the U.S. dollar.
Here is how similar cryptocurrencies have performed in the last day:
- Algorand (ALGO) traded 1.2% lower against the dollar and now trades at $1.34 or 0.00002423 BTC.
- Elrond (EGLD) traded down 0.9% against the dollar and now trades at $183.68 or 0.00332775 BTC.
- Theta Fuel (TFUEL) traded up 0% against the dollar and now trades at $0.35 or 0.00000637 BTC.
- NEAR Protocol (NEAR) traded 3.8% lower against the dollar and now trades at $4.93 or 0.00008928 BTC.
- Helium (HNT) traded 0% lower against the dollar and now trades at $17.63 or 0.00031934 BTC.
- Ardor (ARDR) traded down 4.4% against the dollar and now trades at $0.36 or 0.00000643 BTC.
- Kava.io (KAVA) traded 2.7% higher against the dollar and now trades at $6.05 or 0.00010957 BTC.
- Wanchain (WAN) traded 3.7% lower against the dollar and now trades at $1.64 or 0.00002964 BTC.
- Divi (DIVI) traded 2.5% higher against the dollar and now trades at $0.0697 or 0.00000126 BTC.
- Energi (NRG) traded down 0.9% against the dollar and now trades at $3.40 or 0.00006160 BTC.
According to CryptoCompare, “Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create applications and custom blockchain networks with complex rulesets or build on existing private or public subnets. Avalanche can confirm transactions in under one second, supports the entirety of the Ethereum development toolkit, and enables millions of independent validators to participate as full block producers (Avalanche had over 1,000 full, block-producing nodes on its Denali testnet). In addition to supporting transaction finality under one second, Avalanche is capable of throughput orders of magnitude greater than existing decentralized blockchain networks (4,500+ transactions/second) and security thresholds well-above the 51% standards of other networks. AVAX is the capped supply native token of the Avalanche platform. Participants can become full block-producers and validators by staking AVAX and are incentivized to do so because of staking rewards. Fees for all sorts of operations on the network are paid out in AVAX through burning, thus increasing the scarcity of AVAX for all token holders. On September 2020, Avalanche announced the launch of its mainnnet. “
Buying and Selling Avalanche
It is usually not presently possible to purchase alternative cryptocurrencies such as Avalanche directly using U.S. dollars. Investors seeking to trade Avalanche should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. 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.
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