Kraken Lists Avalanche (AVAX) as its Price Surges

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Kraken is one of the oldest and most trustworthy exchanges in the United States of America. It is not only one of the largest and popular platforms in the USA but all over the world, thanks to its outstanding features and services.

As per reports, Kraken has announced the listing of AVAX, the native token of the Avalanche network. The initiative to list AVAX on the Kraken exchange has been taken, considering the increase in the token’s price and adoption seen this year.

Here is a graph by CoinMarketCap that shows the price surge seen for the AVAX token in 2021.

avax-graph-23-12-2021

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Details About AVAX’s Listing on Kraken

The AVAX token has seen a lot of recognition and growth this year as mentioned above. The adoption noticed for the token has also made it a prominent altcoin.

According to the Kraken exchange, the Avalanche network is a “distributed system that achieves scalability through the use of three interoperable blockchains and a Proof-of-Stake consensus mechanism.”

Avalanche aims to be the foundation for a vast ecosystem of dApps (decentralized applications).

A few days back, the Kraken exchange also took to Twitter to announce listing AVAX on the platform.

In the announcement, Kraken mentioned some details, including the fact that the users can trade the AVAX token on the exchange against USD and EUR. This token is available on both Kraken and Kraken Terminal. However, futures contracts and margin trading in digital currency are not available.

The native token of the Avalanche network has also been supported by the digital currency custody firm BitGo.

When it comes to non-fungible tokens (NFTs), gaming and decentralized finance, the Bank of America analysts have stated that Avalanche could be a suitable alternative to Ethereum (ETH).

Here is some data from the Avalanche blockchain:

  • More than 1.4 million addresses have been created on the network
  • More than 70,000 contracts have been deployed on the network
  • More than 8 million blocks have been processed by the network
  • Over 40 million transactions have been processed by Avalanche

What Should Crypto Investors and Traders Know?

Bitcoin is the most prominent crypto asset in the world, however, some altcoins are also getting quite recognized day by day. Some of the popular altcoins include the following in no particular order:

  • Ethereum
  • Solana
  • Avalanche
  • Cardano
  • Dogecoin
  • Shiba Inu

The crypto asset you choose to invest in depends on your personal preference. However, make sure you choose a suitable exchange, irrespective of the cryptocurrency you want to buy.

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