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WebsCrypto—News—Altcoin News—Founder of Avalanche: Avax’s Huge Utility and Stable Token Distribution Are the Main Reasons for Its Price Increase
Altcoin News

Founder of Avalanche: Avax’s Huge Utility and Stable Token Distribution Are the Main Reasons for Its Price Increase

By WebsCryptoMarch 20, 2022
Founder of Avalanche: Avax’s Huge Utility and Stable Token Distribution Are the Main Reasons for Its Price Increase
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Avalanche founder CovDuk shared in his Twitter thread the reasons why the price of AVAX is soaring, CovDuk pointed out that the reason for the price of AVAX is soaring because of its solid token distribution. Its supply is capped at 720 million, with 360 million tokens minted at launch, and another 360 million to be issued over 10 years.

CovDuk also noted that AVAX has enormous utility as it is fast, cheap and scalable through its subnetting technology. This has led to many new developers joining to build on AVAX.

AVAX has surged about 12% in the past 24 hours. At press time, the coin is trading at an average price of $90.05. AVAX’s 24-hour trading volume was $2,105,943,120, up more than 42%. According to CoinMarketCap, Avalanche is the 10th largest cryptocurrency with a total market cap of $24.03 billion.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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