Question 1

AVAX Price

Accepted Answer

AVAX recorded its highest-ever price of $144.96 in November 2021. The spike followed an announcement by the company behind Avalanche that it was [partnering](https://www.coindesk.com/markets/2021/11/17/avalanches-avax-token-surges-to-all-time-high-after-deloitte-deal-defying-crypto-trend/) with global accounting firm Deloitte to “build more efficient disaster relief platforms using the Avalanche blockchain.”

In August 2021, the AVAX price more than [doubled](https://www.coindesk.com/markets/2021/08/18/avalanches-avax-token-jumps-on-180m-incentive-program/) following the announcement of a $180 million liquidity mining incentive program, which meant that certain [decentralized finance](https://www.coindesk.com/learn/what-is-defi/) (DeFi) protocols would be launched on the Avalanche network and their users would be rewarded in AVAX tokens in addition to regular interest payments. The first two DeFi protocols involved were Aave and Curve.

In February 2021, when it was 5 months old, the AVAX price spiked and then rapidly fell again as a high volume of transactions on the network slowed down the network and revealed a [coding bug](https://www.coindesk.com/tech/2021/02/14/avalanche-crippled-by-bug-triggered-by-unusually-high-volume-engineer-says/). The launch of decentralized exchange Pangolin on the Avalanche network led to a surge of interest in AVAX and a breakdown in the minting validation process, which dramatically slowed down transaction processing speeds. The company said the bug was promptly fixed.

AVAX supply is capped at 720 million tokens, with an initial issuance of 360 million tokens.

Question 2

How does AVAX work?

Accepted Answer

The Avalanche network consists of three interrelated blockchains. It claims to outperform leading blockchain platforms like Bitcoin, Ethereum and Polkadot in a range of efficiency measures, including transactional capacity and security.

Avalanche achieves that by using what it calls a ‘family’ of consensus protocols, collectively named Snow. The protocols are among those breaking new cryptographical ground, different from both classical and Nakamoto consensus protocols. It aims to combine classical consensus protocols’ promise of low latency (speed) and high throughput (size) with Nakamoto’s robustness and decentralization.

Users stake AVAX to validate transactions on the Avalanche blockchain, but they aren’t rewarded with AVAX for doing so; instead, AVAX is burned, reducing the supply of the token and tending to support the value of the tokens the users already own. The appeal of this approach is that it benefits all holders of the tokens, not just the largest staker. It is designed to avoid the richest participants growing disproportionately richer.

[Nodes](https://www.bitpanda.com/academy/en/lessons/what-is-a-bitcoin-node/) on the Avalanche network can earn the right to mint AVAX by staking their tokens. The extent of their right to mint is algorithmically related to the responsiveness and speediness in the consensus process, to encourage better behaviour by nodes.

Question 3

Key events and management

Accepted Answer

Avalanche was launched in September 2020 by Emin Gun Sirer, a computer science professor at Cornell University and CEO of Ava Labs, the company behind the network.

In December 2021, Ava Labs was selected by Mastercard as one of five startups to join a program to help build up their businesses. And in the same month, a Bank of America report identified Avalanche as a viable alternative to Ethereum.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	AVAX-USDT AVAXUSDT	binance	AA	10.19USDT	-2.51%	2,287,890.13AVAX	170,763	10.46USDT	10.48USDT
2	AVAX-USDT AVAX_USDT	whitebit	BB	10.19USDT	-2.57%	768,159.64AVAX	31,135	10.46USDT	10.49USDT
3	AVAX-USDT AVAX-USDT	okex	A	10.19USDT	-2.51%	517,417.66AVAX	30,750	10.46USDT	10.48USDT
4	AVAX-USDT AVAX-USDT	kucoin	BB	10.19USDT	-2.49%	471,051.47AVAX	14,907	10.45USDT	10.48USDT
5	AVAX-USDT AVAX_USDT	gateio	A	10.19USDT	-2.53%	448,768.15AVAX	26,861	10.46USDT	10.48USDT
6	AVAX-USD AVAX-USD	coinbase	AA	10.18USD	-2.47%	379,185.77AVAX	19,162	10.44USD	10.47USD
7	AVAX-USDT AVAXUSDT	bybit	A	10.19USDT	-2.51%	351,011.76AVAX	40,468	10.45USDT	10.48USDT
8	AVAX-USD AVAXUSD	kraken	AA	10.18USD	-2.53%	296,785.99AVAX	5,615	10.45USD	10.47USD
9	AVAX-TRY AVAXTRY	binance	AA	503.00TRY	-2.42%	196,017.11AVAX	8,957	515.50TRY	516.80TRY
10	AVAX-USDC AVAXUSDC	binance	AA	10.18USDC	-2.46%	143,402.47AVAX	16,073	10.44USDC	10.47USDC
11	AVAX-WBT AVAX_WBT	whitebit	BB	0.1242WBT	-2.05%	138,584.77AVAX	3,921	0.1268WBT	0.1270WBT
12	AVAX-USDT AVAXUSDT_SPBL	bitget	BB	10.19USDT	-2.53%	84,855.46AVAX	11,732	10.46USDT	10.48USDT
13	AVAX-USDC AVAX_USDC	whitebit	BB	10.18USDC	-2.56%	81,456.11AVAX	2,963	10.45USDC	10.47USDC
14	AVAX-BTC AVAXBTC	binance	AA	0.0₃1222BTC	-2.08%	53,680.48AVAX	1,253	0.0₃1248BTC	0.0₃1248BTC
15	AVAX-USD avaxusd	bitstamp	AA	10.18USD	-2.49%	50,136.39AVAX	2,074	10.44USD	10.47USD
16	AVAX-EUR AVAXEUR	kraken	AA	9.09EUR	-2.64%	45,374.03AVAX	1,837	9.34EUR	9.36EUR
17	AVAX-TRY AVAX_TRY	whitebit	BB	504.85TRY	-1.58%	30,075.04AVAX	839	512.97TRY	517.18TRY
18	AVAX-USDC AVAX-USDC	okex	A	10.19USDC	-2.51%	27,251.01AVAX	4,477	10.45USDC	10.45USDC
19	AVAX-USD AVAX_USD	cryptodotcom	AA	10.18USD	-2.49%	22,612.80AVAX	7,526	10.44USD	10.46USD
20	AVAX-FDUSD AVAXFDUSD	binance	AA	10.21FDUSD	-2.55%	20,713.51AVAX	1,064	10.47FDUSD	10.48FDUSD
21	AVAX-USDC AVAXUSDC	kraken	AA	10.21USDC	-2.44%	19,748.99AVAX	602	10.46USDC	10.46USDC
22	AVAX-USDC AVAXUSDC	bybit	A	10.18USDC	-2.54%	18,322.30AVAX	1,165	10.45USDC	10.45USDC
23	AVAX-EUR AVAX-EUR	coinbase	AA	9.09EUR	-2.68%	18,500.42AVAX	1,655	9.34EUR	9.36EUR
24	AVAX-USDT AVAXUSDT	kraken	AA	10.20USDT	-2.67%	17,808.13AVAX	700	10.48USDT	10.48USDT
25	AVAX-USDT AVAX_USDT	cryptodotcom	AA	10.19USDT	-2.58%	16,914.02AVAX	6,760	10.46USDT	10.48USDT
26	AVAX-BTC AVAX_BTC	whitebit	BB	0.0₃1222BTC	-1.86%	13,250.95AVAX	463	0.0₃1246BTC	0.0₃1246BTC
27	AVAX-USD AVAXUSD	hashkey	A	10.18USD	-2.66%	10,003.05AVAX	385	10.46USD	10.46USD
28	AVAX-EUR AVAX_EUR	whitebit	BB	9.11EUR	-2.69%	9,825.55AVAX	418	9.36EUR	9.36EUR
29	AVAX-USD AVAX:USD	bitfinex	BB	10.20USD	-2.68%	8,679.50AVAX	661	10.48USD	10.48USD
30	AVAX-USDC AVAX-USDC	coinbaseinternational	BB	10.56USDC	0.00%	0AVAX	0	10.56USDC	10.56USDC
31	AVAX-EUR avaxeur	bitstamp	AA	9.09EUR	-2.94%	8,297.28AVAX	345	9.36EUR	9.36EUR
32	AVAX-USDC AVAX-USDC	kucoin	BB	10.19USDC	-2.49%	7,898.15AVAX	378	10.45USDC	10.45USDC
33	AVAX-EUR AVAXEUR	binance	AA	9.11EUR	-2.62%	7,338.70AVAX	432	9.36EUR	9.36EUR
34	AVAX-USD avaxusd	gemini	A	10.18USD	-2.83%	6,981.61AVAX	764	10.48USD	10.48USD
35	AVAX-USDT AVAX-USDT	coinbase	AA	10.20USDT	-2.49%	4,429.15AVAX	367	10.46USDT	10.46USDT
36	AVAX-USD1 AVAXUSD1	binance	AA	10.21USD1	-3.46%	3,349.45AVAX	29	10.58USD1	10.58USD1
37	AVAX-HKD AVAXHKD	oslhongkong	A	79.80HKD	-2.53%	3,274.87AVAX	2,705	81.87HKD	82.07HKD
38	AVAX-USDC AVAX_USDC	gateio	A	10.20USDC	-2.63%	2,791.90AVAX	372	10.48USDC	10.48USDC
39	AVAX-TRY AVAX-TRY	okex	A	504.30TRY	-2.66%	2,597.21AVAX	106	518.10TRY	518.10TRY
40	AVAX-USDT AVAX:UST	bitfinex	BB	10.19USDT	-2.80%	2,527.25AVAX	137	10.48USDT	10.48USDT
41	AVAX-EUR AVAX-EUR	okex	A	9.09EUR	-2.75%	2,403.15AVAX	486	9.35EUR	9.37EUR
42	AVAX-USDC AVAXUSDC	bullish	AA	10.17USDC	-2.97%	2,311.86AVAX	10	10.48USDC	10.48USDC
43	AVAX-U AVAXU	binance	AA	10.23U	-2.14%	2,202.22AVAX	126	10.46U	10.46U
44	AVAX-EUR AVAXEUR	bybit	A	9.09EUR	-3.30%	1,218.01AVAX	197	9.40EUR	9.40EUR
45	AVAX-EUR AVAXEUR_SPBL	bitget	BB	9.10EUR	-2.83%	958.70AVAX	556	9.36EUR	9.36EUR
46	AVAX-BRL AVAXBRL	binance	AA	51.43BRL	-2.93%	838.10AVAX	69	52.98BRL	52.98BRL
47	AVAX-USD AVAXUSD	cexio	BB	10.21USD	-6.58%	705.84AVAX	5	10.93USD	10.93USD
48	AVAX-USDC AVAXUSDC_SPBL	bitget	BB	10.19USDC	-2.53%	708.81AVAX	460	10.45USDC	10.47USDC
49	AVAX-ETH AVAX_ETH	gateio	A	0.004074ETH	-1.62%	541.92AVAX	106	0.004142ETH	0.004142ETH
50	AVAX-BTC AVAX-BTC	kucoin	BB	0.0₃1223BTC	-2.10%	152.20AVAX	115	0.0₃1249BTC	0.0₃1249BTC