Avalanche to Dirham
1 AVAX 62.36 AED
-1.57 (-2.53%) today
to Converter
Live Avalanche Chart
Trends over time
1 Day
63.93 AED
(-2.53%)
1 Week
60.26 AED
(3.36%)
1 Month
72.78 AED
(-16.73%)
1 Year
334.33 AED
(-436.16%)
What is Avalanche?
Avalanche (AVAX) is a cryptocurrency and blockchain network that competes with the Ethereum network. The native token of Avalanche is AVAX, and, like Ethereum, it uses smart contracts to support several blockchain projects.
Is Avalanche a good investment?
According to CoinMarketCap data, Avalanche (AVAX) is in the top ten by market cap, with a bullish performance of 3,100 percent, ahead of top crypto assets such as BTC, ETH, BNB, ADA, and DOT. The coin's value is expected to reach $110 by 2030, making it an excellent investment.
Avalanche differentiates itself from traditional blockchains in several ways, including dividing the key systems into three separate chains, introducing a Layer 0 infrastructure layer in place of a Layer 1 one, and using a novel proof of stake consensus algorithm. Avalanche believes that these mechanisms not only offer sub-second settlement times and transaction fees well below $1 but also address the main scaling issues and proof of stake conversion that Ethereum is currently facing.
Predictions indicate that AVAX's price could rise to approximately $56.35 in the upcoming 12 months, making it a profitable investment. By December 2022, analysts predict that the Avalanche price will have risen to $20.410.
Historical growth of Avalanche?
Avax, Avalanche's native token, was introduced in 2020 and quickly became one of the major players in the cryptocurrency market. Avalanche has a strong team at Ava Labs working for it and has received multiple investment offers from influential parties like Polychain and Three Arrows Capital.
The year 2021 was fantastic for the cryptocurrency community. On January 1st, 2021, the total market cap for the cryptocurrency industry was around $770 billion. By the end of the year, it had risen to $2.25 trillion. AVAX, which experienced a stellar gain of 3,000 % last year, was one of many cryptocurrency projects that outperformed others.
Avalanche price is being negatively impacted by the current depressing market climate, which traders still need to profit from. The reason cryptocurrencies are correcting so much is due to the current state of the economy.
Households now have less disposable income as a result of the price increase. This results in less money being invested in cryptocurrencies, which in turn causes fear of a potential cryptocurrency decline.
How and when to buy Avalanche?
To purchase AVAX, you must first purchase cryptocurrency on an exchange that supports AVAX tokens, such as Binance or Coinbase. AVAX can be purchased with US dollars or other fiat currency or traded for other supported cryptocurrencies.
Take note of the "trading pairs" terminology, such as AVAX to USD Coin (USDC). In the case of AVAX/USDC, AVAX can be exchanged for USDC, a stablecoin whose value is pegged to the US dollar. Here are some exchanges that trade AVAX for USDC:
- KuCoin
- Crypto.com
Another option is to purchase and trade Avalanche with Tether (USDT), another well-known stablecoin. Binance.US and KuCoin, to name a few, are exchanges that pair AVAX with USDT.
It is not too late for those who want to buy and try Avalanche's (AVAX) investment in 2022, amidst the Avalanche Foundation's ambition to collaborate with various high-end projects.
Avalanche, in particular, seeks to form multiple partnerships solely to promote the "subnet" functionality of the Avalanche blockchain smart contract.
Interested in Avalanche?
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