Avalanche Cryptocurrency Review (AVAX)

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What is Avalanche (AVAX)?

Avalanche – is a blockchain platform withopen source for running DeFi applications, new financial assets and trading. The key benefit of the Avalanche platform is its high performance and scalability.

Ava Labs developers claim that Avalanche– the first smart contract network that can carry out transactions in less than a second as standard and allows anyone to launch or trade assets in any form and control them decentralized using smart contracts. 

AVAX Token

The native token of the AVAX platform is used forcollecting transaction fees, transferring value, and creating new networks on the Avalanche platform. In addition, the token makes it possible to participate in management (voting) and staking. The size of the reward depends on the validator’s share of coins and the time the token is locked. The longer the coins are blocked, the greater the passive income. 

AVAX emission is limited to 720,000,000 (720 million) tokens. Half of this stock has now been released.

The other half will be released in accordance withplan detailed in the white paper Avalanche. AVAX release rate is subject to community approval, but not total turnover. To increase the shortage of tokens, transaction fees are "burned". This process is offset by the issuance of new coins.

The transaction fees themselves depend on the type of transaction being performed on the Avalanche network.

Where to buy AVAX

AVAX is traded on Binance against several assets, including AVAX/BTC, AVAX/BNB, AVAX/BUSD, and AVAX/USDT. Additionally, the currency is sold on Bitfinex and most major platforms. 

Avalanche Futures Contracts (AVAX) are listed on the FTX.

A Brief Overview of AVAX Price Movement

After the launch of the main network, the token price sharplyjumped from $5.02 to $6.38 per coin, but could not hold on for long, starting a gradual decline. The cost of AVAX today is $4.07, and the trading turnover for 24 hours is $16,951,128. Over the past 24 hours, the price has fallen by 3.85%.

According to Coinmarketcap, the token ranks 97th in the ranking with a market capitalization of $99,415,298. 

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