Coinbase listed Avalanche and now AVAX is available to trade on the standard Coinbase platform and Coinbase Pro, with the token getting a slight price bump after the listing so let’s read more in our latest altcoin news today.
Avalanche is now available on Coinbase and its iOS and Android mobile apps so users can start trading, sending, and receiving the coin on the standard Coinbase platform as per the announcement from the exchange. Avalanche was available on Coinbase Pro and the price of the AVAX coin increased by 6% though it is only up by a slight 2.6% today. The cryptocurrency is still the 12th most valuable crypto asset with a market cap of over $14 billion and like Solana, other next-gen blockcahin platforms as Avalanche is often billed as an ETH killer meaning that it aims to compete with Ethereum.
Avalanche is an open-source platform that is for developers that want to build things like dapps or multi-functional blockchains but much faster, cheaper, and more secure than ethereum. Ethereum competitors are springing up lately to offer alternatives to one of the oldest crypto projects as it fights with the congested network and the high transaction fees. So far, so good because Avalanche is very popular. The price soared over the past few months and hit an all-time high of $79 last week but then dipped by 17% and was trading for $65 according to the CoinGecko data.
Avalanche was hit hard over the past two days along with Etheruem and Solana when the entire market crashed. The coinbase announcement didn’t’ seem to affect Avalanche’s price but its price did increase after it was listed on Coinbase Pro. The exchange added in the announcement that it was working to list a wider variety of assets at a fast pace because, in the first six months of the year, it added 29 cryptocurrencies.
AVAX is launching on https://t.co/bCG11KMQ6s & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive or store AVAX. We will update when all are fully live. https://t.co/2klJShUUJF
— Coinbase (@coinbase) September 30, 2021
As recently reported, Avalanche recorded one of its best weeks since the launch and the fundamentals of its token AVEX remained strong with more gains in the crypto space preparing it for another rally. Ava Labs CEO Emin Gun Sirer confirmed that the platform recorded about 1 million transactions on its smart contract blockchain and this increase in transaction volume happened in the past two months adding that Avalanche is now the most advanced public-goods-layer-1.
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