Avalanche
About Avalanche
The price of Avalanche (AVAX) is $23.26 today, as of Sep 09 06:03 a.m., with a 24-hour trading volume of $306.08M. Over the last 24 hours, the price has increased by 2.92%. Avalanche currently has a circulating supply of 405.26M and a market cap of $9.43B.
Avalanche (AVAX) is the native token of the Avalanche network, a base-layer network on which software developers can build decentralized applications (dapps), smart contracts and custom blockchains.
AVAX recorded its highest-ever price of $144.96 in November 2021. The spike followed an announcement by the company behind Avalanche that it was partnering with global accounting firm Deloitte to “build more efficient disaster relief platforms using the Avalanche blockchain.”
In August 2021, the AVAX price more than doubled following the announcement of a $180 million liquidity mining incentive program, which meant that certain decentralized finance (DeFi) protocols would be launched on the Avalanche network and their users would be rewarded in AVAX tokens in addition to regular interest payments. The first two DeFi protocols involved were Aave and Curve.
In February 2021, when it was 5 months old, the AVAX price spiked and then rapidly fell again as a high volume of transactions on the network slowed down the network and revealed a coding bug. The launch of decentralized exchange Pangolin on the Avalanche network led to a surge of interest in AVAX and a breakdown in the minting validation process, which dramatically slowed down transaction processing speeds. The company said the bug was promptly fixed.
AVAX supply is capped at 720 million tokens, with an initial issuance of 360 million tokens.