Avalanche (AVAXUSD) News
Avalanche is an open-source blockchain that can be used to create new blockchains that work according to rules set by developers. New assets with specific parameters and trade restrictions can be created and programmed. The platform allows anybody to create their own blockchain.
Avalanche's developers claim that it's the first blockchain capable of processing smart contracts and performing transactions in under one second.
AVAX is the Avalanche platform's native token and has a limited supply of 720 million tokens. Of those, 360 million were issued simultaneously with the primary network's genesis block. The other 360 million tokens are issued according to a special formula. In the first year, the release rate of new tokens is 7-12%. While AVAX's overall supply can't be changed, token holders can change the issuance rate of new tokens to adapt the network to changing economic conditions.
All commissions and fees are paid for using AVAX tokens that are then burnt to decrease the total supply.
AVAX's capitalisation at the beginning of April 2021 was over $3.9 billion.
The Avalanche team conducted its ICO in July 2020, collecting $42 million and 21 million AVAX tokens. In just Q1 2021, AVAXUSD increased more than nine times in value!
AVAXUSD's average intraday volatility in 2020 was 12.1%.
The supply of AVAX tokens is fixed, which drives up the price and creates a shortage.
How to buy and sell AVAXUSD
You can buy and sell ALGOUSD on specialised cryptocurrency exchanges, but the best way to trade it is through a broker or trading platforms, such as MetaTrader 4 or Libertex, where you can open and close positions much more easily, trade with leverage and even earn if the coin's value goes down.