The growth of the Defi platform is one of the interesting phenomena in cryptocurrency, Avalanche crypto AVAX is one of the new Defi platforms. But it is one of the most popular platforms rank #20 Coinmarketcap at the press time.
At press time at $47.95 On 188.064 watchlists. The market capitalization has reached more than 10 billion USD. Will Avalanche be one of the good crypto assets for the future?
No one knows for sure what will happen to Avalanche and other cryptocurrencies in the future. However, an investor will usually look for sources of information related to the property than chosen.
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- 1 What is avalanche crypto?
- 2 What does avalanche crypto do?
- 3 How does avalanche work
- 4 AVAX Native token Avalanche
- 5 Where to store avalanche crypto?
- 6 Where to buy avalanche crypto
- 7 Avalanche crypto competitors
- 8 Is avalanche crypto a good investment
- 9 Avalanche crypto fees
- 10 AVAX Price prediction
- 11 Avalanche crypto analysis
- 12 Final thought
What is avalanche crypto?
You’ll find information about Avalanche on the community help sitemap. Avalanche is an open-source platform, as a place where developers can develop Defi applications.
Defi or Decentralized Finance is a blockchain development that provides remittance solutions at low costs.
Avalanche was created by Ava labs which launched on Mainnet in September 2020. Ava labs are led by Cornell researcher Emin Gün Sirer. Avalanche is a highly scalable interoperability platform.
Using Proof of Stake, this platform allows validators to contribute to the network with minimal energy.
The Avalanche platform has three main parts in the ecosystem which are the primary network.
- Platform Chain (P-chain). This is the metadata platform within Avalanche that manages validators, tracks, and enables the creation of new subnets. P-chain uses the Snowman consensus protocol.
- Contract Chain(C-chain). This is the built-in smart contract from Avalanche which governs the creation of compatible Ethereum smart contracts. It also uses the Snowman Consensus Protocol.
- Exchange Chain (X-chain). It is a blockchain asset within the Avalanche platform that governs the creation of new assets, exchange of assets, and cross subnet transfers. It uses the Avalanche consensus protocol.
Avalanche crypto founder
The Avalanche was designed by Ava labs invented by Emin Gün Sirer. He is a Cornell researcher for artificial intelligence AI. Who became interested in cryptocurrencies in 2001.
In an interview, he built Avalanche with the aim of digitizing all assets. Bitcoin only stores one coin, one asset and cannot store other assets. Meanwhile, using the Avalanche platform allows traffic between assets in one interoperable platform.
Through the Avalanche platform, Emin Gün Sirer wants a variety of coins to be able to use one platform that fits all coins.
Ava labs Team
A key member of the Ava labs team is Lydia Chiu served as VP of Business Development, Emin Gün Sirer as Founder & CEO, John Nahas served as Senior Director of Business Development, John Wu served as President, Maofan Yin a Founder & Chief Protocol Architect, Jay Kurahashi-Sofue served as VP of Marketing.
Meanwhile, the Ava Labs team consists of experts from various fields of expertise, such as science, economics, finance, and law. They are working offices in Miami and New York City.
Team members come from leading Fortune 500 finance and tech companies, such as Google, Microsoft, Morgan Stanley, Cisco, Credit Suisse, and many more. More than 65 members are divided into several positions.
There are 10 members who hold business operations positions. Designers consist of three members, 25 members hold the Engineering section, 22 members in marketing, and 2 members in advisors.
Avalanche crypto headquarters
Avalanche was built by Ava Labs under the leadership of Emin Gun Sirer, this company is engaged in Architectural, Engineering, and Related Services Professional, Scientific, and Technical Services, Laboratory testing.
Its head office is at 350 Duffield Hall Ithaca, NY, 14853-2700 United States. Ava Labs itself was founded in 2018 with 37 employees according to Dun & Broadstreet in the company profile.
What does avalanche crypto do?
Avalanche is an umbrella platform for Defi project developers, although this platform is relatively new, the support of a team of experts who come from various expertise, makes the Avalanche platform easily dominate the market.
At press time there are over 273 projects accomplished in just 11 months. Several Avax projects like 420swap, Avax daily, Avax Duels, AAVE, ACME, and many more. You can view a list of Avalanche projects at avax-project.com
How does avalanche work
With its triple-blockchain strategy as its mainstay, Avalanche tries to simplify the conversion and development process. Here is the network and how Avalanche (AVAX) works.
Avalanche has the function to build a new blockchain called Subnet. Where developers have full control of subnet programming by paying AVAX as a subscription fee.
It is a decentralized network where anyone can create other digital assets with easy programming. These digital assets include Stablecoins, utility tokens, NFTs, wrapped tokens, equities, etc.
It is a conversion chain compatible with the Ethereum network, users can migrate Dapps to blockchain more easily.
This is the chain that is responsible for the usability function of the network. This chain coordinates validators that enable token staking in the network.
Owners of AVAX tokens can take advantage to join the staking network. By using a minimum of a dual-core processor, 4 GB of memory, and a 40 GB SSD, users can run the validator. The Staker’s profit ranged from 9.69 to 11.54 percent.
AVAX Native token Avalanche
To secure the network Avalanche has the native $AVAX token. This token is created with a maximum supply of 720 million tokens.
The $AVAX token plays an important role in the sovereignty of the Avalanche network which is useful in an economic model that functions to reward minting, stakes, and transactions in the Avalanche ecosystem.
Network validators get incentives that are proportionate to the number of stakes and depending on proof-of-uptime and proof-of-correctness.
With a maximum supply of 720 million, when it reaches the maximum limit it will be subject to governance. Where fees are not paid to validators but, they are burned, thus increasing the scarcity of $AVAX.
Total supply of AVAX at press time 390,923,619 with circulating supply of 219,735,635.96 AVAX according to Coinmarketcap. This is only a third of the total maximum supply.
Where to store avalanche crypto?
Maybe the problem when buying AVAX tokens is where to store the Avalanche token that supports and is the best wallet.
Ava Labs itself has created an application wallet for storing Avalanche assets that is a safe, simple, and non-custodial wallet.
Avalanche crypto wallet
To place the AVAX token users can use https://wallet.avax.network/, with a few steps to create a wallet account.
From the discussion of the Avalanche community on the Reddit forum, there are also those who use the Ledger nano x and Ledger Nano s wallets.
However, a reviewer for staking using Ledger Nano x does not support stakes only for Ledger nano s. Yet other users tell it could just take a few more retries. How to use the Avalanche wallet via Ledger, step by step to install, you can follow the steps as described in Ledger support.
Create AVAX wallet
- Visit https://wallet.avax.network/.
- Click Create a new wallet.
- Click generate key phrase
- You must Copy or write down the 24 words which are the Key Phrase/Mnemonic Phrase safely. It is useful for accessing the wallet.
- Access your Wallet by entering the 24 keywords/Mnemonic phrases that you copied earlier.
- There will be 3 different types of addresses:
X = Address Exchange with prefix X-avax1…
P = Address Platform with P-avax prefix…
C = Address Contract with the prefix 0x…
- Select the X-avax1 prefix for transfers from Exchange.
Where to buy avalanche crypto
Once you have an Avalanche wallet, you may want to purchase the AVAX token next. Avax tokens can be purchased on several popular exchanges.
Binance is the largest and most famous exchange, you can buy AVAX on this exchange at an affordable price. You can purchase AVAX tokens with payment options including credit cards.
This exchange was launched in 2014, it is a popular exchange in Europe. Various cryptocurrencies can be obtained on this exchange, including Bitcoin. You can buy AVAX in a simple way. However, this exchange does not accept buyers outside Europe.
This exchange is more recommended for US residents. You can find AVAX on this exchange. Their platform is suitable for beginners with a user-friendly interface. The exchange that was founded in 2013 is one of the places where you can buy AVAX tokens.
OKEx is an exchange founded in 2017 and headquartered in Valletta, Malta. It is an exchange based in Seychelles. Various cryptocurrencies are available on this platform and you can find AVAX on this exchange.
Huobi Global is a leading exchange mainly for Bitcoin and Ethereum, but you can also find AVAX on this global crypto trading platform. Operating since 2013 on this exchange there are hundreds of cryptocurrencies in the available market.
Avalanche crypto competitors
Who are Avalanche’s competitors? Some say that Avalanche is a competitor to Ethereum. Both are open-source platforms where Defi developers use the platform as an umbrella for application developers.
Besides Ethereum, other competitors are Cosmos and Polkadot. Cosmos also promises interoperability and scalability.
Meanwhile, Polkadot also provides solutions regarding scalability and interoperability. You can find the Polkadot project at Polkaproject.
Is avalanche crypto a good investment
Avalanche is a platform supported by a team of experts drawn from leading companies. The company’s growth is very significant and promising.
Even though it has only been launched on Mainnet in a year, it has been able to position its position as one of the Defi platforms that have received a response from application developers.
Avalanche offers better features than Ethereum, several advantages that make Avalanche a good investment.
- This network serves easiness for businesses to create new blockchains and application-specific Dapps.
- The AVAX token can also represent instruments such as equities, bonds, debt, fractional real estate, and many other financial instruments.
- Avalanche fully supports NFT (non-fungible tokens).
- This network can be used to run multiple dedicated virtual machines such as the Ethereum Virtual Machine. This means that this network can also be used in Truffle Suite, Remix, MetaMask, MEW, and all your other favorite Ethereum tools.
- Avalanche is ideal for Defi platform creation.
Should I buy avalanche crypto?
All investment decisions are in your hands. As a private investor, you have full control over the funds to be invested. But the information you get from various sources can help in determining the decision should you buy Avalanche?
Hold AVAX token apart from the possibility of increasing its price in the future. With staking, this will provide a profit opportunity as transactions grow in the network.
Avalanche crypto fees
Avalanche makes different transaction fees for different types of transactions. In C-chain fees using the “base fee” algorithm. The fee will increase if usability is above the target and decrease if it is below the target.
The image below is a fee table taken from the AVAX network document.
AVAX Price prediction
Talking about Avalanche doesn’t feel right if you don’t embed the AVAX prediction in 2021. The following summary is a prediction from a popular forecasting site about the AVAX token in the future.
Wallet investors predict Avalanche is an awesome investment in the next year to reach a price of $73,789 and in the next five years $176.052
Cardano feed predicts the price of AVAX in 2022 to reach $128.10 by the end of December. Predictions increase in late December 2023 at $119.40. December 2025 rose another $201.42. December 2023 rose again $1,325.11
Longforecast predicts AVAX to reach $65.65 in December 2021. $82.35 in December 2022. $99.25 in December 2023. Fall to $64.94 in December 2024. $126.50 in December 2025.
Gov Capital predicts that Avalanche is a crypto asset that can rise 198% in the next year in 2022 to reach $127.38491141747
Coin Price forecast predicts AVAX end of 2021 to reach $85.72. End of 2022 to reach $89.22. 2023 to $109.74. 2024 to reach $153.31. 2025 to reach $ 186.94. Decline in 2026 to $177.95. Rise again in 2027 to $213.07. 2028 to $241.97. Decline in 2028 to $222.28. Rise again by 2030 to $243.72. 2031 to $268.08. 2032 to $296.85. 2033 to $326.05.
DIgitalcoinprice predicts Avalanche 2022 price Upto $65.69 USD, 2023 Upto $84.96 USD. 2024 Upto $82.61 USD. 2025 Upto $108.03 USD in 2026 Upto $126.8 USD. 2027 Upto $113.25 USD. 2028 Upto $176.11 USD
Avalanche crypto analysis
The current price of the Avalanche is $43.24, the market capitalization has reached 9 billion USD. A daily volume of up to 1 billion USD is a high volume of transactions enabling higher market volatility.
Seeing the last candle that formed a bearish candle gives an indication that there is selling pressure on the AVAX price. However, this possibility is still temporary. The price is still possible to rise again to $48 as the first resistance.
The price movement from August 23 hitting a high of $58.98. However, the price fell again and formed a new resistance at $52. The trading scenario is to find a low point to take long in the $32 to $36 range for low risk.
Avalanche crypto price history
AVAX’s price history started in the range of just $4 after its launch on Mainnet. Prices have started to move up since 2021, early January, the price chart has started to rise. And hit an all-time high Avalanche price at $58.76 on February 11, 2021.
After this position, the price fell but was still in high volatility. This could be due to the large volume of transactions in the crypto market which increases volatility. Price again formed a new high at $55.08 on Aug. 25, 2021. While it didn’t manage to form a new all-time high, it did provide some potentially profitable volatility.
Avalanche is Defi’s new platform which is getting a good reception among crypto developers and investors. With a popular and well-known exchange having listed the AVAX token, it allows trading of this token to increase in the exchange and provides an opportunity for price fluctuations with other cryptos.
This article is only information and not investment advice, crypto-assets contain risks, all risks are the responsibility of each investor.
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