Avalanche (AVAX) Crypto Review 2024: Complete Guide

€ 28.3527

-2.6035375414
Last updated 04:06:03 UTC
Market Cap
€ 11.15 Billion
Fully Diluted Market Cap
€ 20.29 Billion
Volume
€ 132.43 Million
Circulating Supply
393.3 Million AVAX

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Last updated at 04:15:03 UTC

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Find out everything you need to know about Avalanche (AVAX) , one of the most prominent and promising cryptocurrencies on the market. Speed, security or even interoperability, many advantages are put forward in order to convince investors and developers. We tell you everything on the subject, in the rest of this complete review on the Avalanche blockchain and the $AVAX token!

Logo-avax

What is Avalanche ?

avalanche

Avalanche (AVAX) is a cryptocurrency, launched in September 2020. This blockchain was designed to support the development of decentralized applications (dApps) and blockchain service implementations.

Originally, Avalanche was on a mission to establish itself as an alternative to Ethereum, presenting itself as safer and more efficient. To do this, the blockchain is based on a consensus algorithm allowing the network to quickly confirm a transaction.

The consensus protocol is based on a DAG (Directed Acyclic Graph) structure. This allows transactions to be processed in parallel (rather than sequentially) and therefore allows the network to scale more efficiently.

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB

History of AVAX

Avalanche (AVAX) was created by Emin Gün Sirer , a well-known computer science professor and blockchain expert. For several years, Sirer had been working on a major project, trying to understand the interest and functioning of the blockchain. Previously, he focused on his role as founder of the research group IC3 (Initiative for Cryptocurrencies and Contracts) whose mission was to work on the development of blockchain-based solutions for various industries.

It was in 2018 that the idea of ​​Avalanche (AVAX) was born. Sirer teams proposed to create a whole new scalable blockchain, which would support a large number of applications. However, the objective was twofold. In addition to offering an innovative service, the idea was to remedy the current limitations of certain blockchain projects, such as the slowness of transactions or even high fees. For this, emphasis was placed on the consensus algorithm and the network architecture.

Avalanche was officially launched in September 2020, then the platform was born. The AVAX token, which is used to pay transaction fees and participate in governance, was also introduced around this time. Since then, more and more people are interested in this project, which attracts a good number of investors (in particular Polychain Capital and Initialized Capital) and developers, who work more and more via Avalanche.

The Avalanche teams have also worked long and hard on cross-chain interoperability and scalability . It’s even one of its key concepts, just like what Polkadot can offer , for example. The team worked to build bridges between Avalanche and other blockchain networks, such as Ethereum and Bitcoin, to enable seamless transfers of assets and data.

Why was Avalanche designed?

The objective of Avalanche – $AVAX is to offer a more efficient blockchain than those that already exist, whether in terms of performance, security or interoperability. Add to this, the ability to support many decentralized applications (dApps) and ease of implementation.

For the Avalanche teams, a lot of problems have been detected with competing blockchains, in particular with regard to:

  • The slowness of transactions;
  • Fees deemed a little too high;
  • Limited scalability.

Based on this observation, the teams looked at what we are presenting to you below, namely a unique consensus algorithm and a network architecture that can process a large number of transactions, at a fairly high speed (4,500 transactions per seconds).

The Avalanche blockchain also supports smart contracts and is intended to be compatible with EVM, Ethereum’s virtual machine . This allows developers to be able to migrate their dApps much faster, from Ethereum to Avalanche. Naturally, this cross-chain connectivity facilitates the transfer of data and assets between AVAX, the Ethereum blockchain, and Bitcoin .

Avax

How does Avalanche work?

avax

Avalanche uses unambiguous technology to operate, thereby facilitating fast processing of transactions, which, at the same time, are secure and scalable. Here is what it is based on to operate in a sustainable and efficient way:

  • Consensus Algorithm

Avalanche’s consensus algorithm is based on a directed acyclicgraph (DAG) structure called Avalanche-X. 

This type of structure ensures that the network can process transactions in parallel. Thus, more than processing transactions one by one, in sequential order, the network can process several at the same time.

This makes it possible to go faster and, at the same time, to reduce costs, especially if we compare the AVAX blockchain with the competition. In short, everything has been thought out to offer an innovative and functional network, very secure.

  • Network architecture

Avalanche’s network architecture is composed of three distinct layers: the network layer, the consensus layer, and the application layer. 

The network layer handles all P2P (peer-to-peer) communication . The consensus layer is focused on the consensus algorithm as well as the validation of the blocks of the blockchain. Finally, the application layer is the one that contains smart contracts as well as dApps.

This triple layer network allows Avalanche to be customizable and modular, much more than other, too rigid blockchains. Ultimately, this is beneficial for developers, who can thus create and deploy their own decentralized applications, much faster.

  • Interoperability

The other great strength of Avalanche, as we were able to quickly mention above, is the principle of interoperability. This means that the blockchain acts in concert with different networks.

This is actually possible through the establishment of bridges, which facilitate the transfer of information, data and assets from one blockchain to another (from Ethereum to Avalanche, for example).

This compatibility between networks allows developers to be able to develop, design and migrate dApps much more easily, from one blockchain to another and therefore save a lot of time.

Where to buy $AVAX?

Where to buy $AVAX?

Want to buy Avax ? This token is available on a large number of different trading platforms. Indeed, it is one of the most traded tokens in the market, regularly establishing itself in the top 15-20 of the most powerful tokens in terms of market capitalization.

Here are 3 trading platforms through which you can easily buy your tokens.

  • Binance

Binance is one of the most famous (if not THE most famous) cryptocurrency exchange and trading platform in the world. There are countless possibilities, from buying resale to DeFi and staking… In short, you can do anything and everything on it, including buying Avalanche (AVAX). It is one of the most secure platforms on the market. It even has a rating of 9.9/10 from Coinmarketcap, in general rating.

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB
  • KuCoin

Recognized exchange and trading platform, KuCoin also allows you to invest in Avalanche and therefore, to buy and resell AVAX in a few clicks. It has gained popularity, in particular thanks to low fees compared to the average, as well as a relatively large supply of tokens.

On KuCoin, it is therefore quite possible to invest in Avalanche. Whether online, via the webapp or the website, or via the dedicated mobile application, you can obtain this token via cryptocurrency trading (in particular on the BTC-AVAX and ETH-AVAX pairs) or via the purchase by fiat currency (FIAT).

KuCoin

  • Wide range of cryptos
  • Advanced Trading Options
  • Competitive fees
  • Gate.io

Gate.io is the least known exchange platform of our selection. However, it deserves to be used, in particular because the trading costs are quite low. On Gate.io, it is quite possible to buy AVAX (and many other types of tokens). In addition to buy-sell, it is possible to do margin trading, staking, etc. If you decide to invest in Avalanche through this platform, you will like to use the dedicated mobile application, which is quite effective.

But then, which platform to choose? At Tokize, we advise you to favor… Binance. Indeed, it is perceived as the best cryptocurrency trading platform in the world. It is one of the most reliable and reputable. It has a strong track record and communicates very transparently through its founder Changpeng Zhao. 

Besides the possibility to invest in AVAX , Binance offers the possibility to use a house credit card, to enter DeFi, to carry out margin trading, to carry out staking etc. Naturally, to enter Binance, it will be necessary to carry out a KYC. Once the verification is done, you are free to position yourself as you wish on Avalanche.

Be careful though. Indeed, Tokize does not offer any investment advice. Do your own research beforehand and only invest what you can afford to lose. Indeed, the cryptocurrency market is very volatile and it is very possible to lose your money. So find out well before choosing a token on which to position yourself.

Avalanche Fear and Greed Index

Updated: 14 June 2024

Now: 42 Fear

Now: 42 Fear

Yesterday: 43 Fear

Last Week: 45 Fear

How do you tell if it’s the right time to buy or sell crypto? That is the question on all AVAX traders’ minds. Volatility in the crypto markets provides a lot of trading opportunities, but it also makes decisions a lot more difficult. By timing the market right, though, you can potentially make a lot of profit from the price fluctuations in AVAX prices. 

A surefire way to spot the right time to sell or trade is by using the Fear and Greed Index, which can represent the general investor sentiment regarding Avalanche. The index is an oscillating indicator that shifts from a region of fear to greed depending on the market conditions. 

As the indicator moves upward to the ‘greed’ region, it shows that investors are bullish and buying more AVAX tokens. More bullish momentum means that the market could be getting oversold, which is a signal to consider a reversal to the downside. 

The opposite is true, whereby movement toward the ‘fear’ region shows bearish market sentiment as investors sell AVAX tokens. Such momentum may indicate oversold market conditions that may be due for a reversal to the upside. 

Still, this is not a one-size-fits-all indicator and must be used as a signal to be confirmed by other market factors. This way, you can avoid fake-outs or falling into traps when crypto whales test the market. 

Avalanche-avax

Buying Avalanche in 2024, is it a good investment?

avalanche avax

We are now in 2024. Is buying Avalanche (AVAX) still a good thing? Is the future of AVAX bright? In our opinion, yes. Indeed, the platform continues to grow in popularity and interests more and more developers and users.

  • Further development and innovation

Avalanche has not abandoned the development of its project, quite the contrary. The teams and developers continue to work hard on product innovation, research and development.

Whether it is to improve general performance, security or interoperability between chains, the emphasis is on strengthening what has been learned to go further. Moreover, several updates have already been made since the launch of the project in 2020. 

Additionally, the platform’s modular architecture and interoperability support make it highly adaptable to new use cases and applications. As a result, the next few years could be particularly interesting for AVAX teams.

  • Growing adoption and partnerships

All of these features and benefits make more and more developers interested in the product. As a result, the Avalanche blockchain is becoming increasingly used to create new decentralized applications. In addition, the platform has entered into partnerships with major industry players, including Chainlink and CertiK, which could help expand its reach and user base.

  • Competitive landscape

Even though Avalanche is one of the most efficient and fast blockchains on the market, more and more projects are trying to compete with it by offering similar functionalities. Solana and Polkadot, for example, are among the main competitors! This growing market, in constant evolution, pushes the actors to have to innovate always more and to seek new solutions more technical, more secure and more effective in order to stand out. 

Our final opinion on Avalanche

Avalanche (AVAX) has quickly established itself as one of the most promising cryptocurrencies on the market. Its unique characteristics have made it very popular with investors and developers who take advantage of the inter-operability and its performance (security, speed) to create on it.

That said, as with any investment in cryptocurrencies, there are risks to consider. The market is notoriously volatile and the value of AVAX could fluctuate significantly depending on market conditions and other factors. So don’t hesitate to do your own research before you start. In fact, the Tokize teams do not offer any investment advice and simply tell you the facts.

Ultimately, we think Avalanche has a lot of potential as a project to invest in. Naturally, market reality makes it difficult (if not impossible) to predict a price or trend. However, AVAX has solid assets on which it can capitalize.

Definition

Avalanche is a web 3.0 project that was born between 2018 and 2020. Avalanche’s native token is Avax.
The creator of the Avalanche project is Emin Gün Sirer, professor of computer science and blockchain expert.
To buy or resell Avalanche, you can go to cryptocurrency trading platforms like Binance or Kucoin and Gate.Io.