What is Avalanche?
Launched in 2020, Avalanche is Layer-1 open-source smart contract platform that is fast, low-cost, and environmentally friendly.
Avalanche supports Solidity programming language so decentralized apps built for Ethereum can be easily moved to Avalanche. As a result, dozens of leading Defi protocols, including Aave and Curve, have versions that run on Avalanche. And many new protocols choose to build on Avalanche, thanks to its $200 million fund to support developers.
Avalanche is developed by Ava Labs, which has received funding from Andreessen Horowitz, Initialized Capital, and Polychain Capital as well as angels Balaji Srinivasan and Naval Ravikant.
What is AVAX?
AVAX is the network’s native token that can be used to pay gas fees or staked to support and generate a yield.
The earliest historic price of AVAX is $0.5 during the $42 million token sale that was done in July 2020. However, the public sale accounted fбor less than 5% of the total supply of 720,000,000 AVAX tokens. A large part of the AVAX supply is controlled by the company, the foundation, and VCs.
The chart above shows how much AVAX is worth today. Clearly, so far AVAX token proved to be a profitable investment.
Today, Avalanche is a viable alternative to Ethereum. AVAX’s future investment potential depends on the network’s ability to capture a growing share of developers, users, and capital.
Avalanche vs Stoic
It's almost impossible to predict which cryptocurrency will eventually emerge as the leader.
There is no guarantee that In 5 years, AVAX would still even exist. Another faster and cheaper blockchain might capture the majority of developers, users, and capital. Or some critical failure of AVAX might derail its progress.
Because the probability of guessing the winner is low, it's better to use a portfolio approach and buy all possible contenders, including AVAX.
Stoic builds a portfolio by using hedge fund-grade quantitative research and AI to build a portfolio of crypto assets.
The algorithm analyzes price data, returns, volatility, correlations, and other factors to identify coins that are likely to go up. It then rebalances the portfolio daily to cut losses early and take profits regularly. Stoic is a great alternative to researching coins and trading manually.
Over 12,000 people already use Stoic to automate their crypto investing.