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Bad Avalanche Price Data
The live Avalanche price today is $34.4000 with a 24-hour trading volume of $388,968,131.
We update our AVAX to USD price in real-time. The price of Avalanche has changed -3.33% in the last 24 hours.
Currently, Avalanche is the #13 largest cryptocurrency by market cap, with a live market cap of $12,987,312,062.00. It has a circulating supply of 378,199,395 AVAX coins and a maximum supply of 720,000,000 coins.
See where to buy Avalanche or use our Avalanche Profit Calculator to calculate and track the performance of your investment.
A Beginner’s Guide to Avalanche
What is Avalanche?
Avalanche is a “new generation” blockchain that improves on the limitations of prior blockchains. It distinguishes itself from other blockchains as a smart contract platform that operates in a fast and secure way.
The fundamentals for what would become Avalanche were first shared by a group of enthusiasts on the InterPlanetary File System (IPFS) using the pseudonym “Team Rocket”.
These ideas were eventually put together in 2020 by a group of researchers from Cornell University. The research team was led by Emin Gün Sirer and included doctoral students Maofan “Ted” Yin and Kevin Sekniqi.
Avalanche is open, highly scalable, and improves on the limitations of other blockchains. It allows for the integration of DeFi applications and the creation of decentralized applications. One of the stand-out features of the Avalance blockchain is its fast transaction times.
AVAX is the native token of the Avalanche blockchain.
What Determines the Price of Avalanche (AVAX)?
The price of AVAX is primarily determined by demand and supply forces in the crypto market. For example, the more applications deployed on the network, the higher its usage which in turn influences the price of AVAX – the native token of the platform.
Other factors that affect the price of AVAX include general market sentiments in the crypto market as well as news on social media.
Avalanche Price History
The chart above shows AVAX’s price trajectory over the years.
As the chart indicates, AVAX has lost a good deal of its value since falling off its 2021 peak of $134.
At the time of this writing, AVAX trades for $9.14 and is ranked 24th by market capitalization. Check the current price of AVAX here.
The Avalanche community continues to grow and is considered one of the best networks for building decentralized applications.
The higher the Dapp interest in Avalanche, the higher its usage and the higher the price of the AVAX cryptocurrency.
Some crypto analysts estimate that AVAX can trade for as high as $247 by 2026. While this is an overly optimistic outlook, there is a good chance that AVAX will experience a surge in price in the months ahead.
With Bitcoin’s halving billed for early 2024, there’s a chance that the crypto market will experience a rally if history repeats itself. Keep in mind that these are just forecasts – there are no guarantees that history will repeat itself.
Talk to your financial advisor before investing in crypto assets.
How Avalanche Works
Avalanche consists of three interoperable blockchains. Each of these chains performs a unique function:
- P-chain (Platform Chain): The P-chain known as the platform chain is responsible for the creation and validation of new blocks
- C-chain (Contract Chain): The C-chain or contract chain allows the creation of smart contracts. It uses the Snowman Consensus protocol for the confirmation of transactions.
The C-chain is compatible with the Ethereum Virtual Machine, you can deploy Ethereum applications on the Avalanche Virtual Machine (AVM) and run your smart contracts.
- X-chain (Exchange Chain): The X-chain is the chain where Avalanche’s native tokens are generated and traded.
These operations require the Avalanche Consensus protocol. Avalanche uses two types of protocols:
- Snoman Consensus: Needed in the C-chain and P-chain to create blocks and smart contracts.
- Avalanche consensus: Necessary to complete and validate transactions in the X-chain.
What is Avalanche (AVAX) used for?
AVAX is the native cryptocurrency of the Avalanche platform and like any other coin, it is used:
- To pay for transaction fees on the Avalanche network
- Secure the Avalanche network
- As a medium of exchange in the Avalanche ecosystem
AVAX can also be traded in the crypto futures market on exchanges that support futures trading. It can be traded with fiat pairs (for example AVAX/USDT) or coin pairs (for example AVAX/BTC).
Who are the Founders of Avalanche?
The ideas that formed the basis of the Avalanche project were first put forth by a group of enthusiasts on the InterPlanetary File System (IPFS) using the pseudonym “Team Rocket”.
In 2020, a group of researchers from Cornell University put these ideas together and formed the Avalanche project: a project that attempted to solve the “blockchain trilemma”.
The research team was led by Emin Gün Sirer and included doctoral students Maofan “Ted” Yin and Kevin Sekniqi.
The “blockchain trilemma” is a term coined by Ethereum co-founder Vitalik Buterin to describe the main issues that face blockchain developers: decentralization, security, and scalability.
The blockchain trilemma argues that blockchain developers can only achieve two of these at the expense of the third.
For example, the Bitcoin blockchain is highly secure and decentralized but this comes at the expense of scalability.
To do this, Avalanche uses a three-chain model and a new consensus model that allows it to process transactions much faster than legacy blockchains without sacrificing scalability or security.
What makes Avalanche unique?
One of the unique aspects of Avalanche’s architecture is its ability to process thousands of transactions per second.
The Avalanche network can process up to 4500 transactions per second which is far more than Bitcoin (7 transactions per second) and Ethereum (30 transactions per second) can process.
What’s more, the Avalanche blockchain is also highly secure. While the Bitcoin and Ethereum blockchains are susceptible to a 51% attack (You would need to gain control over half of the network to override transactions), Avalanche has a much higher threshold: 80%.
Another area where Avalanche shines is interoperability: it can be used in conjunction with other blockchains.
FAQs
Is AVAX a coin or token?
AVAX is a coin, not a token. It is the native cryptocurrency of the Avalanche platform.
What is the current price of AVAX?
It is hard to plot the future price trajectory of crypto assets. Some analysts estimate that AVAX can get to $247 by 2026.
While we think this is overly optimistic, one thing we are confident of is that (in the not-to-distant future), the price of AVAX will experience a significant surge that will coincide with a general rally in the crypto market.
What is the current price of AVAX?
Click here to see AVAX’s current price.
What is a blockchain?
A blockchain is a highly secure, decentralized public ledger. Blockchain technology has been tipped with revolutionary potential with possible applications in supply chain management, identity management, voting, and government administration.
