The crypto Avalanche (AVAX) is leading the rally on the crypto side with a price increasing by more than 12%! At present, the price of the crypto Avalanche (AVAX) is around 89 € and is approaching its ATH!
Last Tuesday was a dark day on the crypto front! With bad crypto signals coming from the United States and China, most of the crypto prices collapsed. But the recovery is underway, starting with the crypto Avalanche (AVAX)!
Avalanche crypto price up 12%!
At the time of writing this article, the price of Crypto Avalanche (AVAX) is € 89.18. He is in strong growth with + 12% over the last 24 hours ! Behind Crypto.com Coin (CRO) which is + 14%, this is the best performance of the world top 30!
The crypto crash of Tuesday, November 16 dropped its price from € 84 to around € 74! But the price of the crypto Avalanche (AVAX) recovered very quickly unlike most other cryptos. So much so that the crypto Avalanche beat its ATH during the same day ! The ATH of the Avalanche crypto is € 89.98. Far from an “avalanche”, the day of November 16 was rather synonymous with roller coasters for AVAX! With a price around 89 € now, the AVAX crypto is therefore slowly but surely approaching its record.
The capitalization of the crypto Avalanche is 19.7 billion euros. This classifies her at 12th largest crypto in the world, just behind the “couple” of memes that are the Dogecoin and the Shiba Inu. However, depending on the dynamics of Avalanche and the two corners, it could integrate the world top 10 faster than expected. At the moment, around 8 billion euros in capitalization separates it from 10th place. But we know, in crypto, everything goes very quickly!
What is Avalanche Crypto (AVAX)?
The Avalanche blockchain enables development of decentralized applications (Dapps) via smart contracts. In this, Avalanche is therefore in competition with Ethereum (ETH), Cardano (ADA) or even Solana (SOL).
The Avalanche crypto was created on September 21, 2020. It uses Proof-Of-Stake (POS) as a consensus algorithm which allows it to have a reduced environmental impact. Moreover, it defines itself as an “incredibly fast, low cost and environmentally friendly” crypto. It claims to be the fastest smart contracts platform on the market today with the most validators compared to other POS protocols.
The applications of the Avalanche ecosystem are as follows:
- Decentralized finance (DeFi);
- Institutions, companies and governments;
- NFT.