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Avalanche

AVAX

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About Avalanche

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.”

Launched in September 2020, Avalanche describes itself as an "open, programmable smart contracts platform for decentralized applications." It aims to provide a higher transaction output of up to 4,500 transactions per second, while other blockchains such as Bitcoin claim around 7 TPS in 2023. The Avalanche network is composed of three individual blockchains: the X-Chain, C-Chain, and P-Chain, each serving a distinct purpose, allowing Avalanche to handle a variety of use cases with different consensus mechanisms. Avalanche is 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 just like Ethereum, Avalanche can power a wide variety of applications like stablecoins, DeFi protocols (lending, savings, decentralized trading), and NFTs. 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. There will only ever be 720 million AVAX coins in circulation.

Avalanche operates through its unique architecture, which consists of three individual blockchains: the X-Chain, C-Chain, and P-Chain. The X-Chain is used to create and exchange the native AVAX tokens and other assets, following a set of standardized rules. The C-Chain hosts smart contracts and decentralized applications with its own Avalanche Virtual Machine, allowing developers to fork EVM-compatible DApps. The P-Chain coordinates network validators, tracks active subnets, and enables the creation of new subnets. This division of tasks allows Avalanche to achieve higher throughput without compromising on decentralization.

Avalanche seeks to provide a platform for a wide range of use cases. Several projects have already integrated with Avalanche, and its modular structure enhances Avalanche's interoperability with other blockchains.

Avalanche was launched by Ava Labs, founded by Cornell University professor Emin Gün Sirer and Cornell University computer science PhDs Kevin Sekniqi and Maofan "Ted" Yin. Gün Sirer is a veteran in cryptographic research, having designed a conceptual peer-to-peer virtual currency six years before the release of the Bitcoin whitepaper. He was also involved in work on Bitcoin scaling solutions and research on Ethereum before the infamous "The DAO" hack in 2016. From that research, the whitepaper that led to the foundation of Ava Labs in 2018 arose. The project closed a seed round in February 2019 that included investors such as Polychain, Andreessen Horowitz, and Balaji Srinivasan. Avalanche completed its initial coin offering in 2020 in under 24 hours.

You can buy, send, and receive AVAX 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 way. In order to bridge from the Ethereum ecosystem into Avalanche, you will first need a non-custodial wallet and decentralized application browser like Coinbase Wallet.

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: (1) Fast, peer-to-peer transactions, (2) Decentralized computation and storage, (3) 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.

Market

Market stats

Market cap

$10.9B

Volume (24h)

$427.4M

Circulating supply

394.5M AVAX

Typical hold time

50 days

Popularity

#13

All time high

$147.50

Market performance

Price change (1h)

+0.25%

Price change (1d)

+1.62%

Price change (1w)

+8.28%

Price change (2w)

-3.48%

Price change (1m)

-9.48%

Price change (1y)

+94.89%

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Social

Some highlights about Avalanche on social media

7,569 unique individuals are talking about Avalanche and it is ranked #63 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Avalanche has an average sentiment score of 3 out of 5. Finally, Avalanche is becoming more newsworthy, with 2 news articles published about Avalanche. This is a 66.67% increase in news volume compared to yesterday.

On Twitter, people are mostly neutral about Avalanche. There were 11.15% of tweets with bullish sentiment compared to 16.97% of tweets with a bearish sentiment about Avalanche. 71.88% of tweets were neutral about Avalanche. These sentiments are based on 603 tweets.

On Reddit, Avalanche was mentioned in 237 Reddit posts and there were 368 comments about Avalanche. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

Powered by LunarCrush

Overview

Contributors

7,569 people

Posts

667 posts

Dominance

0.72%

Volume rank

#63

Average Sentiment

3 out of 5

News Articles

2

Twitter

Reddit

Posts

237

Comments

368

Post Score

309

Comment Score

331

Coinbase Bytes

An Uptober to remember: Crypto markets are rallying — here’s what analysts think might happen next

An Uptober to remember: Crypto markets are rallying — here’s what analysts think might happen next

COINBASE BYTES • NOV 01, 2023

Could crypto winter finally be over? With BTC, altcoins, and even NFTs getting boosts, “Uptober” lived up to its billing.
    Last week, bitcoin broke the $35,000 level for the first time in 18 months, and prices have mostly remained above $34,000 since. At the same time, a variety of altcoins, decentralized finance (DeFi) platforms, and even NFTs have also surged. 
    The “layer 1” Ethereum alternative Avalanche gained nearly 15% last week and is up 25% in the past month overall.
    The month of “Uptober” lived up to its billing, with a number of tokens roaring back to life after months of dormancy. And while nobody can predict the future, some market watchers are more optimistic than they’ve been in a long time — and not just because of the potential for Wall Street to get a spot BTC ETF approved.

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

Avalanche is on the rise this week.

The price of Avalanche has increased by 0.25% in the last hour and increased by 1.62% in the past 24 hours. Avalanche’s price has also risen by 8.28% in the past week. The current price is $27.60 per AVAX with a 24-hour trading volume of $427.43M. Currently, Avalanche is valued at 81.29% below its all time high of $147.50. This all-time high was the highest price paid for Avalanche since its launch.

The current circulating supply of Avalanche is 394,511,299.179 AVAX which means that Avalanche has as total market cap of 394,511,299.179.

FAQ

What is the current price of Avalanche?

We update our Avalanche to USD currency in real-time. Get the live price of Avalanche on Coinbase.

What is the market cap of Avalanche?

The current market cap of Avalanche is $10.85B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Avalanche?

The all-time high of Avalanche is $147.50. This all-time high is highest price paid for Avalanche since it was launched.

What is the 24 hour trading volume of Avalanche?

Over the last 24 hours, the trading volume of Avalanche is $427.43M.

What other assets are similar to Avalanche?

Assets that have a similar market cap to Avalanche include Tether, BNB, Solana, and many others. To see a full list, see our comparable market cap assets.

How many Avalanche are there?

The current circulating supply of Avalanche is 395 million.

What is the typical holding time of Avalanche?

The median time that Coinbase customers hold Avalanche before selling it or sending it to another account or address is 50 days.

What is the relative popularity of Avalanche?

Avalanche ranks 34 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Avalanche?

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.

Can I buy Avalanche on Coinbase?

Yes, Avalanche is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Avalanche guide.