Decrypt • Sep 25, 23
How To Stake AVAX on Avalanche Using Core
Streamlined and user-friendly, Core is the go-to staking solution for Avalanche. Here's our simple guide to staking AVAX with Core.
Create a Coinbase account to buy and sell Avalanche on the most secure crypto exchange.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Avalanche has fallen by 2.20% in the past 7 days. The price declined by 1.11% in the last 24 hours. In just the past hour, the price shrunk by 0.22%. The current price is $8.92 per AVAX. Avalanche is 93.90% below the all time high of $146.22.
The current circulating supply is 354,144,989.24 AVAX.
Avalanche describes itself as an open, programmable smart contracts platform for decentralized applications. AVAX is used to pay transaction fees and can be staked to secure the network. Avalanche is compatible with Solidity, Ethereum’s programming language, and can be used to deploy custom private or public blockchains as “subnets.”
Avalanche describes itself as an “open, programmable smart contracts platform for decentralized applications.” What does that mean? Like many other decentralized protocols, Avalanche has its own token called AVAX, which is used to pay transaction fees and can be staked to secure the network.
Like Ethereum, Avalanche can power a wide variety of applications like stablecoins, DeFi protocols (lending, savings, decentralized trading), and NFTs. Avalanche is also compatible with Solidity, the programming language used by the Ethereum network, which means developers from one of the largest and most engaged communities in crypto can build on Avalanche and use it to deploy custom private or public blockchains as “subnets.” And, whereas the Bitcoin blockchain can typically process around seven transactions per second, Avalanche claims to be able to process over 4,500 transactions per second.
You can buy, send, and receive AVAX (depending on eligibility) using your Coinbase account. Or, you can buy AVAX by using the official Avalanche “Bridge” and trading ETH (or other Ethereum tokens) for AVAX in a peer-to-peer fashion. In order to bridge from the Ethereum ecosystem into Avalanche, however, you will first need a non-custodial wallet and decentralized application browser like Coinbase Wallet.
Using Coinbase Wallet, you can navigate to the Avalanche Bridge, exchange your Ethereum assets for Avalanche, and monitor your balances across various blockchains.
Avalanche’s network consists of three component blockchains: the Platform Chain (P-Chain) which coordinates validators and the creation of subnets, the C-Chain for the creation of smart contracts, and the X-Chain for managing and exchanging assets.
The native asset connecting the Avalanche network is the AVAX cryptocurrency. There will only ever be 720 million AVAX coins in circulation, and AVAX can also potentially be used in proposing and voting on future network upgrades.
AVAX rewards can be earned by staking directly on the Avalanche network (note: Coinbase does not currently enable staking directly on its platform), which helps secure, validate, and govern Avalanche while enabling the following features:
Fast, peer-to-peer transactions
Decentralized computation and storage
Creation of new “subnet” blockchains
Participants become general network validators by staking their AVAX on the Avalanche Platform Chain (P-Chain). Participants can also delegate their stake to another validator, who then earns a portion of their validator reward. You can also become a validator of specific subnet blockchains by staking AVAX.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The current market cap of Avalanche is $3.16B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Avalanche is $146.22. This all-time high is highest price paid for Avalanche since it was launched.
Over the last 24 hours, the trading volume of Avalanche is $100.58M.
The current circulating supply of Avalanche is 354 million.
The median time that Coinbase customers hold Avalanche before selling it or sending it to another account or address is 73 days.
Avalanche ranks 35 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 96% of Coinbase users are buying Avalanche. In other words, 96% of Coinbase customers have increased their net position in Avalanche over the past 24 hours through trading.
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