Many participants in the crypto market face the same problems, which include higher commissions in the Ethereum network and the need for a unified environment for cryptocurrency operations. However, not everyone knows that Avalanche (AVAX) almost has grappled with this problem.
Avalanche is a fast, flexible, and secure blockchain-based smart contracts platform, capable of progressing 4,500 bargains per second. It aims to solve the issue of the fragmented crypto market, which is full of obstacles.
Avalanche was founded in May 2018 by Emin Gun Sirer, one of the creators of the Bitcoin NG protocol. Avalanche Foundation is overseeing the project. The test network was launched in April 2020 and a token sale was held three months after that investors bought 72 million AVAX tokens worth $42 million in just five hours.
In September 2021, the Avalanche team collected $230 million from global funds Andreessen Horowitz, Galaxy, Bitmain, NGC, Dragonfly Capital, Polychain, and others. This shows the high confidence of large investors in Avalanche.
Numerous cryptocurrencies can be exchanged on Avalanche’s blockchain, including Bitcoin and Ethereum. Avalanche also backs up NFT through its trusted marketplaces and allows borrowing on its P2P lending platform. On November 20, 2021, the AVAX token reached its record high of $147 and even briefly made it into the top 10 digital coins in terms of market value.
The explosive growth of the AVAX token came after the Ava Labs team developing the Avalanche blockchain announced a partnership with the Deloitte consulting firm. Together, they want to “improve the safety, speed, and accuracy” of the US Federal Emergency Management Agency.
Avalanche’s main competitors are definitely Ethereum, Binance Smart Chain, and Tron, which are already experiencing problems with high fees and slow performance. Unlike its competitors, Avalanche offers a wide range of functionality from lightweight development dApps to the Pangolin DEX exchange. Avalanche is often compared to Ethereum because both support smart contracts, or collections of code that execute a set of instructions on the blockchain. Avalanche is designed to be faster and cheaper to use than Ethereum. It can process 4,500 transactions per second, while Ethereum can only process about 13. In the world of decentralized and distributed blockchain networks, two of the most promising and innovative platforms are Cosmos and Avalanche. Analyzing the atom vs avax comparison it is obvious that Avalanche currently has the advantage, both in terms of market capitalization ranking and exchange rate.
For the past year and a half, AVAX has been in an accumulation phase and has allowed investors to enter the coin at very favorable prices. There is still a long way to go to the all-time high of around $150 at the time of publication, AVAX is trading at $10.34 and the current Ethereum/BSC/Tron issues will allow AVAX to reach new heights and expand its ecosystem significantly.
AVAX Price Predictions
DigitalCoinPrice claims that the AVAX token price should reach $22.72 by the end of the year. DigitalCoinPrice’s Avalanche rate forecast also suggests that the 2025 token will be worth $37.84. The Gov.Capital blog believes that AVAX will be worth around $41.38 a year from now, and in 5 years AVAX will reach $168.34. The Avalanche rate forecast from Priceprediction.net is for the next 10 years, where it believes the average price of the token per year will be $390.5.
You can buy Avalanche (AVAX) on online cryptocurrency exchanges that act as intermediaries between buyers and sellers of cryptocurrencies or make a speedy nexo/avax exchange on Godex without registration with minimal commission.