Is It Profitable To Invest In AVAX?

Finance by  Sumona 11 February 2022 Last Updated Date: 22 February 2022


The Avalanche blockchain network was launched in the fall of 2020. The goal of the project is to create a barrier-free global digital asset market, speed up transactions, and simplify the use of smart contracts and decentralized applications.

In a first approximation, the network is very similar to Ethereum, but it is faster, uses less power, and offers more tools. It is not surprising that Avalanche has already been ranked among the potential “Ethereum killers”, although the creators of the platform have a different opinion.

Avalanche Coin (AVAX): How It All Began

Avalanche Coin (AVAX): How It All Began

After the launch, the coin grew quite quickly, setting its first record at $ 11.46 at the end of September 2020. The rapid growth was replaced by the same rapid fall in price and until the end of 2020, the coin was trading in a range between 3 and 4 dollars. In December 2020, short-term price reductions were recorded to about $ 2.8.

Avalanche follows general market trends

Avalanche follows general market trends

The beginning of 2021 saw a boom in AVAX. By mid-January, the price broke the double-digit barrier and did not fall below the $ 10 mark during the entire first half of the year. In the first decade of February, the coin set a new record at $ 59.94 per coin.

Consolidation took place in the first spring months, but the direction generally remained upward. AVAX swap was carried out at the rate of about $ 30 per coin.

A radical change occurred in May against the backdrop of a general collapse of the crypto market. The saddest for Avalanche was July when the price briefly fell below $ 10. In mid-August, the cryptocurrency market started to move. AVAX began to rally and surpassed the February high by mid-September.

The price rose especially rapidly in the fall, during the “altcoin season”. The high of $ 134.53 was reached on Nov.22. The year was closed at $ 109.27.

Avalanche Price Prediction

Avalanche Price Prediction

Most reputable publications are generally optimistic. WalletInvestor experts believe that by the fall of this year the coin will be trading slightly above $ 250, and in 5 years its price will exceed $ 700.

Avalanche’s near-term prospects are estimated at about the same numbers by DigitalCoinPrice and, but opinions differ greatly in assessing the more distant prospects.

It is worth considering that any forecast is probabilistic, and cryptocurrencies are a poorly predictable type of asset. Before investing, it is worth conducting your own market research and weighing the risks. You can make a lot of profit, but just as easily you can lose all your savings and this statement applies to all cryptocurrencies.

Investments in AVAX look attractive, but the further development of the project largely depends on the development of Ethereum. If Ethereum has new problems, Avalanche will have a good chance.

Where to buy Avalanche

AVAX ranks 11th in the ranking of cryptocurrencies by market capitalization. The coin is available on many major cryptocurrency exchanges through the proper platform. You can buy Avalanche for fiat money and other cryptocurrencies, but remember that to access the functionality of the exchange, you need to create an account.

If you already have digital coins, you can go the other way. LetsExchange – instant crypto exchange online, the best place to buy AVAX with cryptocurrency.

You can buy the asset you need in a matter of seconds. You select a pair for exchange in the widget, indicate the transaction amount and the wallet address for crediting the exchanged funds. While you enter the required data, the system will automatically select the best deal for you. After confirming the application, the transaction is completed and the coins are credited to your wallet.

You do not need to waste time registering an account and performing other actions. LetsExchange is very fast, simple, and completely anonymous.

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Sumona is a persona, having a colossal interest in writing blogs and other jones of calligraphies. In terms of her professional commitments, she carries out sharing sentient blogs by maintaining top-to-toe SEO aspects. Follow more of her contributions in EmblemWealth

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