While many coins outlived their records in October, AVAX had a rough start. The price, which had approached $79 in September, has been a cause of aggravation for investors as it has continued to fall. And, although being on the greener side, the final half of October fell short of expectations.
November has been positive on AVAX so far, despite the fact that it is only four days old. From the time of writing, the price has climbed 14.4 percent in the last 24 hours and 27.7 percent in the previous seven days.
On November 1, Avalanche created a fund aimed at fostering critical areas of growth across the ecosystem, including as DeFi, enterprise apps, NFTs, and culture applications.
AVAX was also recently listed on Nexo with promotional rates of up to 17%. The promotion is only open until November 30, after which the yields will drop to 15%. On the site, users can purchase, earn, exchange, and borrow against $AVAX.
Avalanche is a relatively young blockchain that has risen to the top of the heap by emphasizing speed and cheap transaction costs. Avalanche, like most new blockchains, tries to address the scalability difficulties that plague older blockchains. As a strong alternative to Ethereum, it can operate dApps at a fraction of the cost and with a faster time-to-finality.
AVAX is currently ranked 13th among the top cryptocurrencies in terms of market capitalization.