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Wednesday, 24 Nov 2021
Crypto Notes
A weekly newsletter decoding crypto, blockchain and the entire ecosystem.
By Rohas Nagpal
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All about Avalanche (AVAX)

Over the last few weeks, we discussed Dogecoin (DOGE), Cardano (ADA), Binance Coin (BNB), Solana (SOL), Bitcoin (BTC), Ether (ETH), Filecoin (FIL), Polkadot (DOT), Polygon (MATIC), Chainlink (LINK), Theta, Chiliz (CHZ), the top Metaverse cryptos, and the top DeFi protocols. This week we take on Avalanche (AVAX).

     

Let's start with some interesting crypto news.

Kraken, one of the world's largest cryptocurrency exchanges, is de-listing the top privacy coin Monero (XMR). This is due to regulatory compliance in the UK.

A study has found that DeFi (decentralized finance) related fraud and theft has exceeded $10 billion so far in 2021.

El Salvador has announced an entire city based on Bitcoin. It will have residential and commercial areas and no income, property, capital gains or payroll taxes.

1. What is Avalanche (AVAX)?

Name: Avalanche

Symbol: AVAX

Overview:

Avalanche is the fourth largest Decentralized Finance (DeFi) blockchain - after Ethereum, Binance, and Solana. The total value locked (TVL) in Avalanche is almost $11 billion.

The top 5 DeFi protocols that run on Avalanche are AAVE, Trader Joe, Wonderland, Benqi, and Curve.

What I like the most about Avalanche is that it lets me launch customized private and public blockchains.

Avalanche, with a transactional throughput of more than 4500 tps, performs phenomenally faster than Bitcoin (7 tps), Ethereum (14 tps), and Polkadot (1500 tps).

In terms of transactional finality, Avalanche (less than 2 seconds) leads as compared to Bitcoin (60 mins), Ethereum (6 min), and Polkadot (60 seconds).

AVAX is Avalanche's native token, and it can be used for staking, paying fees, and providing a unit of account between the multiple subnetworks created on Avalanche.

Here’s a great value proposition:

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2. Metrics

As of 23 November, its core metrics are:

Price metrics

Current Price $ 134
All-time high (Nov 21, 2021) $ 146.22
All-time low (Dec 31, 2020) $ 2.79

Supply metrics:

Circulating supply 224 million AVAX
Total supply 395 million AVAX
Maximum supply 720 million AVAX

Note:

Circulating supply is the number of coins/tokens in public hands.

Total supply is the number of coins/tokens created minus the number burned.

Maximum supply is the maximum amount of this crypto that can ever exist

Figures have been rounded off for convenience

Marketcap & Volume metrics:

Market Cap: $ 30 billion
Fully Diluted Market Cap: $ 96 billion
Volume (24h): $ 2.8 billion
Volume / market cap ratio: 0.094

Note:

Market cap = Current Price x Circulating Supply

Fully Diluted Market Cap would be the market cap if the maximum supply was in circulation

Volume (24h) is the fiat value of this crypto traded over the last 24 hours

Volume / market cap ratio = 24h Volume / Marketcap

Figures have been rounded off for convenience

3. Wallets

The officially recommended wallets are Avalanche Wallet, Ledger, Frontier, and D'Cent.

Note: The data/graphs are from CoinMarketCap, Messari, and Future Money Wallet.

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The author is an amateur boxer, a blockchain architect, a Tintinologist and a retired hacker.

     

Written by Rohas Nagpal. Edited by Saikat Chatterjee. Produced by Nirmalya Dutta. Send in your feedback to newsletters@livemint.com.

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