The price of AVX also dropped on December 25th but has recovered to form a bottom in the $220s. This is just one example of how altcoins will continue to be volatile after the bull run with bitcoin and other major coins finally calming down before continuing their rise over time.
The “where to buy avax” is a cryptocurrency that has recently seen a price drop from $100 to $50. The price started recovering after the Christmas Crash, but it was not enough for the coin to break even.
Avalanche (AVAX) is a layer-one blockchain designed to support decentralized apps and bespoke blockchain networks. As a result, it is a key competitor to Ethereum’s blockchain, as well as another blockchain to which developers have begun to turn after abandoning Ethereum’s network owing to its high costs.
Avalanche is a far more scalable blockchain than Ethereum, with cheaper fees and quicker transaction processing. It can handle 6,500 transactions per second, compared to Ethereum’s 13. Avalanche’s capacity to process more transactions minimizes transaction wait times, thus there’s no need to raise fees to make transactions more appealing to miners, resulting in a low average transaction cost.
As a consequence, more users chose Avalanche, and its native coin saw more usage, allowing its price to rise from $4.1 at debut to $135 at its all-time high. While its price is now lower as a result of a recent price drop, AVAX has the ability to shoot back up and much higher.
In the year 2020, there will be an avalanche.
Avalanche was founded in 2020, and its token was released in the second part of September. Its price was $4.1 at the time of its inception, and it jumped to $4.7 shortly afterward. Following the euphoria, the currency saw a big price correction, dropping to $3.4, only to spike again, this time to $4.4.
From that point on, the price of AVAX began to fall, and its value continued to fall for the remainder of the year. While there were some ups and downs throughout this period, the main trend was negative, and the coin ended the year at $2.9.
Fortunately, the project’s fortunes changed dramatically in 2021, and its valuation quickly soared to new heights.
In the year 2021, there will be an avalanche.
While the Avalanche price was at its lowest point at the conclusion of last year, things quickly changed as 2021 began.
Its price soared, and it was only two weeks later that it hit $13. This level proved to be a powerful barrier, preventing the price from moving higher for the following two weeks. AVAX, on the other hand, got a second wind as soon as February began, surging to a high of $55 in a matter of days.
Naturally, when a currency has such a quick rise, it is going to undergo a correction, which occurred just after the coin reached the $55 mark. Its price continued to fall over the following several weeks, eventually falling to $23 on February 28th.
The AVAX price was determined to break through the barrier at $40 from that moment on, and it spent many months attempting to do so. AVAX attempted to break through this obstacle multiple times between early March and the second part of May. It got near three times, but was unable to succeed due to the fact that it was too early.
Things began to alter in mid-May, and not for the better. Elon Musk, the CEO of Tesla, stated shortly after Bitcoin reached its all-time high of $64,000 that his business will no longer accept Bitcoin payments for its electric vehicles. He said that Bitcoin raises too many environmental problems, and that the firm cannot continue to promote its usage by accepting it.
This was an obvious choice since the main point of Tesla is to transition to electric automobiles in order to save the environment. However, the crypto sector saw a huge price fall shortly after, halving the value of most currencies.
AVAX’s stock dropped from $40 to $15 in the aftermath, and its value continued to fall throughout the summer, eventually reaching a low of $10. In other words, AXAX suffered a worse loss than others, losing up to 75% of its value between mid-May and mid-July.
After that, however, things began to improve, and the currency began to see a steady climb that got more and more fast as time passed. By mid-August, the Avalanche price had dropped to $20, and just a week later, it had risen to $55.
After a short dip near $40, the currency exploded in early September, smashing through barrier after resistance. Despite the fact that some of them resulted in minor adjustments, the coin ultimately hit $76 on September 23rd. This was followed by a lengthy correction, which saw AVAX drop below $55 on October 12th.
After that, a second rally began, and this one sent the currency higher than it had ever been before. Avalanche began growing higher and higher on October 18th, eventually reaching an all-time high of $135 on November 22nd. This is still the company’s record. However, the currency corrected once again, hitting a low of $80 on December 13th, just as it did the previous time a quick boom took control. The currency skyrocketed over the following seven days, until it surged back up to $123, only to collapse to $100 in a so-called Christmas crash.
Finally, on December 31st, 2021, the AVAX price began to rise once again, and it is now trading at $106.34, up 1.22 percent in the previous 24 hours.
The Avalanche price has risen significantly on many instances this year, indicating that the currency has a lot of upside potential and that there is demand for it. The currency will definitely gain new use cases as its network develops, and its demand will continue to rise. In 2022 and beyond, it will be interesting to see what this implies for AVAX and how high it can go.
Visit our Investing in Avalanche guide to learn more about this coin.
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