Binance.US, the U.S.-based subsidiary of the global cryptocurrency exchange Binance, has expanded its trading options by introducing an Avalanche (AVAX)/Bitcoin (BTC) pair. This addition allows traders to exchange AVAX directly against Bitcoin, the leading cryptocurrency by market capitalization.
AVAX Trading Options on Binance.US
Initially listed in November 2021, AVAX was previously tradable only against the U.S. dollar (USD) and Tether (USDT). The new AVAX/BTC pairing provides more flexibility for investors seeking exposure to Avalanche’s native token.
Key Details About Avalanche (AVAX)
- Market Position: AVAX ranks 10th by market cap, trailing competitors like Solana and Cardano.
- Current Price: As of recent data, AVAX trades around $70, reflecting a 5% surge in the past 24 hours.
- Trading Volume: Over $1 billion in daily volume, with 15% attributed to the AVAX/USDT pair.
- All-Time High: AVAX peaked at $144.96 in November 2021 but has since corrected by ~51%.
👉 Track AVAX’s live price and trends
Avalanche’s Role in DeFi and Ecosystem Growth
Avalanche is a high-performance smart contract platform competing with Ethereum. Its ecosystem supports decentralized applications (dApps) and boasts:
- Total Value Locked (TVL): 4th largest in DeFi, behind BNB Chain and Terra.
- Subnet Feature: Enables developers to create custom blockchains for specialized use cases.
- $290M Incentive Program: Launched by the Avalanche Foundation to accelerate subnet adoption.
Recent Developments
- Staking Milestone: Over 50% of AVAX is now staked, enhancing network security.
- Merchant Adoption: Payment platform Wired integrated AVAX, enabling spending at global retailers.
FAQs About AVAX and Binance.US
1. How do I buy AVAX on Binance.US?
- Register, complete KYC, deposit funds (USD/BTC), and trade via the AVAX/BTC, AVAX/USD, or AVAX/USDT pairs.
2. What makes Avalanche unique?
- Its subnet architecture improves scalability, offering faster transactions than Ethereum at lower fees.
3. Is AVAX a good investment?
- While past performance shows volatility, its ecosystem growth (e.g., subnets, DeFi) suggests long-term potential.
4. Can I stake AVAX on Binance.US?
- Currently, staking is supported via Avalanche’s native wallet or select platforms.
5. Why did AVAX drop from its ATH?
- Broader market downturns and profit-taking after its November 2021 rally contributed to the decline.
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Conclusion
The introduction of AVAX/BTC trading on Binance.US marks another step in Avalanche’s mainstream adoption. With its robust DeFi ecosystem, subnet innovation, and growing utility, AVAX remains a token to watch. Traders can now capitalize on its price movements against Bitcoin, diversifying their strategies on a trusted U.S. exchange.
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