What is Avalanche (AVAX)?
Avalanche is a blockchain platform with smart contracts capabilities that supports the creation of decentralised application (dApps) and custom blockchains. Avalanche uses its own consensus protocol that ensures all validator nodes work in parallel to verify other validator’s. This provides users with near-instant transaction, while continuing to maintain security and decentralisation.
Avalanche has gained widespread popularity, being a contender against Ethereum (ETH) due to its fast-processing speeds and low transaction fees.
AVAX is the native utility token used in the Avalanche ecosystem. AVAX serves as a currency typically used for fee collection and incentives. AVAX can also be staked to secure the network to verify transactions.
Check out our in-depth guide to Avalanche (AVAX), available on Swyftx Learn.
Understanding Avalanche Price Chart
The Avalanche price charts represent the cryptocurrency's performance since its initial release. Users can select custom timeframes to see Avalanche's performance during a particular period. Our users can use these price charts to perform crypto technical analysis of their favourite assets.
Avalanche's price chart is presented as a candlestick chart. Many traders utilise candlestick charts to accurately track the price movements of an asset.
Read our guide to candlestick charts to understand how they can be accurately read.
