Avalanche (AVAX) Slumps 6.9% Against USD in 24 Hours Amid Market Downtrend
Avalanche Takes a Dip: What’s Moving AVAX?
Well folks, AVAX just had a rough 24 hours—down 6.9% against the dollar as of Tuesday morning. One coin’ll currently set you back about $13.26 or 0.00014663 BTC on major exchanges. With a market cap holding steady around $5.69 billion, roughly $504.5 million worth of AVAX changed hands yesterday. Zoom out a bit, and it’s been a shaky week with a 10.1% overall drop.
Crypto Market Blues: Who Else is Down?
Turns out AVAX isn’t flying solo in this slump—here’s how some other coins fared:
- Cronos (CRO): Down 3.9% at $0.10
- Hedera (HBAR): Fell 4.7% to $0.13
- NEAR Protocol (NEAR): Dipped 4.5% to $1.67
- Internet Computer (ICP): Also down 4.5% at $3.37
- Fetch.ai (FET): Took the biggest hit—7.1% drop to $0.24
Clearly, it’s a red day across the altcoin board. Makes you wonder if trade patterns are shifting or if broader market forces are at play. (Hint: Always do your own research before jumping in!)
Avalanche 101: Need-to-Know Basics
Born on September 21st, 2020, Avalanche is anything but your average blockchain. Here’s the skinny:
- Total Supply: 461 million AVAX (about 429 million currently circulating)
- Official Website | Reddit Community | Twitter
- Mind-blowing stats: 4,500+ transactions/second and sub-second finality
What really makes it pop? Avalanche is basically a turbocharged playground for DeFi apps and custom blockchains. It’s fully compatible with Ethereum tools (hello, easy migration!) but way faster and more scalable. Plus, staking AVAX lets you earn rewards while securing the network—pretty sweet deal if you’re holding long-term.
Getting Your Hands on Some AVAX
Here’s the drill for newcomers: You can’t directly buy AVAX with USD (yet). Most folks trade Bitcoin or Ethereum for it on exchanges. Start with platforms like Coinbase or Gemini to grab BTC/ETH first, then swap for AVAX where it’s listed.
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