Coinbase Starts Trading Avalanche, But Price Nearly Doesn’t Rise

Avalanche can now be traded on the standard version of Coinbase and its Android and iOS mobile apps, according to a announcement of the exchange.

The listing of AVAX

Avalanche (AVAX) has been available since yesterday on Coinbase Pro, the exchange’s “professional” trading platform. The price of AVAX rose 6% yesterday. Today, however, the token is recording a small loss.

The cryptocurrency is currently the twelfth largest cryptocurrency in the world, with a market cap of over $14 billion. Like Solana and other next-gen blockchains, Avalanche is often described as a competitor to Ethereum.

What is Avalanche?

Avalanche is an open source platform that, like Ethereum, is made for developers who want to build things like DeFi apps. However, it claims to be faster, cheaper and more secure than Ethereum.

Lately, we’ve seen more and more Ethereum competitors popping up. This is because ETH struggles with a crowded network and high transaction costs. New projects such as Avalanche and Solana say they can solve these problems. It is clear that these ETH competitors are popular. The Avalanche price has risen enormously in recent months. It even hit a record high of $79.31 last week. Since then, the price has fallen slightly, but the price is still 400% higher than in July.

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AVAX 1D chart – Source: Tradingview

It is striking that the announcement of Coinbase does not seem to influence the Avalanche price. Although the price briefly skyrocketed after it was listed on Coinbase Pro yesterday, things have been pretty quiet in the AVAX camp since then.

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