Avalanche (AVAX) is the latest cryptocurrency to be listed on Kraken, with the price of the popular altcoin up 10 percent after the news.
According to a statement from Kraken’s official Twitter account earlier today, the native token of the high-yield Avalanche blockchain Avalanche (AVAX)started trading on the San Francisco-based crypto exchange Kraken.
🔺 $AVAX Trading is LIVE on Kraken!
❄️ Get all the details on our blog: https://t.co/f8FMK7NyDm pic.twitter.com/ccITgh0s2J
— Kraken Exchange (@krakenfx) December 21, 2021
Kraken announced on December 16 that it would list AVAX and opened deposits for depositors. As a result, the token can now be traded against the US dollar and euro.
Avalanche, one of the most popular “Ethereum killers”, is now thought to be approaching a new record high after gaining more than 10 percent today. AVAX hit its current all-time high at $144.96 on Dec. 21.
Ascension Path
Last Tuesday, Circle’s USDC added support for Avalanche, making the platform’s native token soar more than 10 percent in one day.
BitGo, the leading crypto custodian with $64 billion in assets under its management, also added support for the popular cryptocurrency last week.
As a result of all these developments, the cryptocurrency ranks tenth (behind Terra’s LUNA) on the list of top cryptocurrencies with a market cap of 26.6 billion.
According to leading crypto research firm Delphi Digital, Avalanche’s C-Chain has experienced a strong increase in development activity. According to the data, more than 70,000 unique contracts were distributed on the chain.
Bank of America’s research team identified Avalanche as a viable alternative to Ethereum in a report published earlier this December and supported the bullish trajectory of the cryptocurrency.
Last month, Kraken also added support for the Shiba Inu, whose community has wowed all cryptocurrency investors. However, neither AVAX nor SHIB can be traded with leverage at this time.
Staking Move from Kraken!
On the other hand, Kraken announced earlier today that it has acquired staking startup Staked. According to the company, the betting industry has reached $16 billion this year.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.