Today it's Valentine's Day and I wish you all a nice and enjoyable day! I did not have in mind to write something today, but being three days late with my writings, I decided that I could have a small break and post something. So, today I will talk about Avalanche or AVAX.
As I said, I will continue with a new episode from the Top 100 crypto-currencies mini-series and I talk about a new project from the top 100 of CoinMarketCap: Avalanche (AVA Labs and $ AVAX).
I will show you how things are with this new token. As you well know, my posts are addressed to those who are at the beginning of the road and do not find simple and clear explanations on the internet related to their questions. So, I want to help them understand at least as much as I understand. Those who already use YouTube and follow great influencers in the world, I think the information provided by me is very simple, but keep in mind one thing that I just try to help people who do not have access to quality information and are curious to know things related to crypto.
AVAX is an extremely interesting project. Today, it is on the 126th place in the Market Rank. I say that this project is interesting, because it is a service platform and they offer services to those who plan and launch decentralized payment services, financial, payment applications, so decentralized. They offer support, in a way like ETH, which on their platform can develop millions of products and applications. At the same time, the AVAX crypto-currency serves as a payment tool for the financial and technical services offered by the platform.
Built using a groundbreaking consensus protocol, Avalanche -- previously abbreviated as Ava or AVA -- is the first smart contracts platform that confirms transactions in under one second, supports the entirety of the Ethereum development toolkit, and enables millions of full block producers.
Just during the testnet, Avalanche observed a record 1,000+ block producers from independent parties across the globe, even surpassing testnets from some of the most highly anticipated networks and most of the major active mainnets. Avalanche also boasts one of the most egalitarian token distribution plans in the space, with less than 14% of mainnet tokens issued to private investors and almost 70% issued to people building on the ecosystem.
At this point, AVAX is worth $40,57. It is a good price if you take into account that they released only 76.937.055 AVAX. So, right now there are 11% of the Max Supply which is 720.000.000 coins. This is already a trend in the industry, meaning that large projects, projects with experience, did not release all their coins they have created in the market, because it is very difficult to sustain the price. When you have only 10%-11% of the Max Supply already on the market, it is much easier to support the price.
So if the AVAX developers do not release more coins very soon, this price I think it won't stay the same for a long time and it could increase. As for the market value, the All Time High was recorded on the 10th of February 2021 when AVAX was $59,94 and the All Time Low was on the 31st of December 2020 when the price was just $2,79.
It had a fantastic increase and I think this increase will not stop here, but I do not give advice or a buy signal. All I can say about a project is that I personally would buy or not, and I think this is the most correct way I could express myself, but I never urge people to buy now. I provide information and based on this information, people have to document themselves and make decisions, because the crypto market is a market of probabilities.
Why is Avalanche so different than the others?
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Avalanche is a high-speed smart contracts platform that supports sub-second finality and Visa-level throughput.
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Avalanche features complete support for the Ethereum Virtual Machine, and thus, Ethereum tooling works out of the box. Truffle Suite, Remix, MetaMask, MEW, and all your other favorite Ethereum tools.
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Avalanche supports application-specific-sharding, empowering developers to launch applications that conform to their own specific needs.
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Avalanche supports not just application-level-programmability but also network-level-programmability. This enables developers to not only control the execution of their decentralized apps but also securely manage private data.
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Avalanche fully supports non-fungible tokens (NFTs), with plans to create a registry so you can discover and explore the entire universe of NFTs on Avalanche.
The coin is launched on almost 40 exchanges. We can find it on Binance, on OKEx, Paribu, BKEX etc. Looking at the exchanges on which they are listed, I can draw a conclusion: they have money. To list a project on OKEx, it costs almost 1 million dollars, to list on Binance it costs 400.00 dollars.
The Market Cap of the project is 3.146.791.398 dollars, which is huge for a new project. I think we will soon see this kind of project replacing top projects like Bitcoin Cash or Litecoin because they bring utility. The Trading volume registered in the last 24 hours was $444.364.32 and approximately 24% was registered on Binance.
To sump up, it is a good project that is worth to follow in the next period.
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