Avalanche (AVAX) Dips 1.8% in 24 Hours, Maintains Weekly Gains at $17.29
Let’s talk AVAX – while the token dipped 1.8% against the dollar in the past 24 hours (as of November 13th, 10 AM EST), zoom out and you’ll see it’s actually had a pretty solid week with 6.8% gains. Currently sitting at around $17.29 per coin or 0.00016796 BTC, Avalanche boasts a hefty $7.41 billion market cap with nearly half a billion dollars traded in just one day. Not too shabby!
The Altcoin Rollercoaster: Who’s Up, Who’s Down?
Looks like AVAX isn’t alone in this short-term slump. Here’s how other players fared:
- Cronos (CRO): -1.7% ($0.13)
- Hedera (HBAR): Took a 4% hit ($0.18)
- Internet Computer (ICP): Down 5% ($6.08)
- Fetch.ai (FET) and Theta Fuel (TFUEL) had the roughest time, dropping 8.8% and 8.2% respectively.
Seems like the broader altcoin market is catching some bearish momentum this week.
Why Avalanche Keeps Turning Heads
Launched in September 2020, Avalanche isn’t just another smart contracts platform. It’s built for speed demons – processing over 4,500 transactions per second with sub-second finality. Created by Dr. Emin Gün Sirer and crew, it’s become a DeFi powerhouse with some serious institutional backing that could fuel major growth.
AVAX Tokenomics 101
With a total supply capped at 460 million coins (428 million currently circulating), AVAX isn’t just for transactions. It’s the network’s lifeblood – paying fees, securing the system, and giving holders governance rights. Plus, its eco-friendly approach makes it a favorite among Web3 developers.
Jumping into the AVAX Game
Wanna trade AVAX? Here’s the playbook:
- Grab Bitcoin or Ethereum on platforms like Coinbase or Gemini
- Swap your BTC/ETH for AVAX on exchanges supporting altcoin pairs
With major institutional moves happening in the Avalanche ecosystem, many investors are keeping close tabs on this one.
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