The live Avalanche price today is $88.33 with a 24-hour trading volume of just over a billion. Its token AVAX is up 13% in the last 24 hours. This guide shares everything you need to know about it, if it makes a sound investment, and the top places to buy it today.
Top places to buy Avalanche now
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What is Avalanche?
It is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It aims to unseat Ethereum as the most popular blockchain for smart contracts.
It will achieve this through the impressive output of up to 6,500 transactions per second without compromising scalability.
The Avalanche network consists of three individual blockchains: X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use.
The tokens blockchains use different consensus mechanisms based on their use cases. They have been working on developing its own ecosystem of dApps and DeFi. It has integrated with different Ethereum-based projects, such as SushiSwap.
It is constantly working on improving interoperability between its own ecosystem and Ethereum, like by bridge development.
Should I buy it today?
Avalanche could be a viable investment. Still, keep in mind cryptocurrencies are very volatile, even the largest ones by market cap. They are subject to wild, unpredictable price fluctuations in either direction.
AVAX price prediction
Wallet Investor finds Avalanche a good long-term investment, predicting its price will grow to $180.46 in just one year. This comes to earnings of +104% in just 12 months. In five years, 1 AVAX will trade for $588.34.
Avalanche on social media
#Avalanche does more using less, according to research by the Crypto Carbon Research Institute and data from @DefiLlama. Avalanche uses only .0028% of the energy consumed by the Ethereum network and secures $18,454 in TVL per kWh.
— Avalanche 🔺 (@avalancheavax) February 14, 2022