Avalanche (AVAX) A Crypto Alternative to Ethereum – Price

What is Avalanche (AVAX), the cryptocurrency that is here to stay

Avalanche is a consensus algorithm mechanism. It is an open source blockchain protocol that hosts interoperable blockchains as well as decentralized applications and financial primitives.

What is Avalanche?

Avalanche (Avax) , is a crypto with the capacity to fight Ethereum , thanks to the recent financing it has received from several investment funds.

The variation in the cryptocurrency market lately, in relation to the price and the number of options that are emerging, causes some to lose their price in one day and others to gain in just a couple of hours, but this asset market is totally versatile. .

Avalanche (Avax) is one of those cryptocurrencies that are revolutionizing this market due to the 34% increase in its value that it has experienced in the last week. Also for possibly being the new alternative to Ethereum , for its Smart contract development software.

Is there potential to invest in Avalanche Coin?

It is necessary to clarify that there are only three cryptocurrencies that have a high market capitalization more than Avalanche (Avax), they also have smart contract development software and they are: Ethereum (ETH), and the altcoins Cardano (ADA) and Solano ( SUN).

Avalanche (Avax) has a fairly high market capitalization for its development, taking into account that Ethereum has a market capitalization of $500 billion; while Solano (SOL) of $67 billion and Cardano (ADA) of $59 billion. The market capitalization of Avalanche (Avax) is at $28,000 million, which may be favorable as it is an alternative for future investments.

The good thing about Avalanche (Avax)

It has compatibility with Ethereum Virtual Machine (EVM) allowing the Avalanche blockchain to run the applications that Ethereum develops but all this with much more advantage.

Recently, Polychain and Three Arrows Capital were the ones that financed this project. It should be noted that CMS Holdings, Lvna Capital and Collab Currency participated in the financing round. and other prominent investors in the industry, which allows Avalanche Foundation to grow rapidly from DeFi, to create support for the different projects that will be carried out within its blockchain.

Another aspect to highlight about Avalanche Avax is that it can carry out 4,500 transactions per second, an advantage that makes it stand out over Ethereum, and also that its transactions take less than a second to confirm.

On the other hand, the creation of Smart contracts comes at a lower cost, another great advantage over the Ethereum network.

AVAX Token

Avax is the native token of the platform or rather Avalanche cryptocurrency. This is used to secure the network through staking, it also works as a reward to incentivize users and pay network fees. AVAX provides a basic unit of account between the multiple subnets that are connected on the Avalanche platform.

It must be taken into account that the official launch of the Avax token is recent and we can say that the token has reacted in a notable and positive way and has given sufficient benefits to its investors.

The token began operating on September 21, costing $4.6 per coin. In the first few days alone the token was already 150% above the estimated initial price of $1.7.

Avalanche Price: Live Price Data

Avalanche coin price today is $113.13 USD with a 24-hour trading volume of $1,166,243,174 USD. We update our AVAX price to USD in real time. Avalanche was down 7.05% in the last 24 hours. CoinMarketCap's current rank is #11, with a market cap of $25,337,276,011 USD. It has a circulating supply of 223,960,117 AVAX coins and the maximum supply is not available. To see the live data visit the following link .

Avalanche Opinion

Avalanche Avax gives way to interoperability between different blockchains, this is something that the developers of this cryptocurrency have exposed, how the various blockchains could be connected to each other. This means that Avalanche (Avax) allows simple transfers of assets between your blockchain and that of Ethereum.

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