The Avalanche network’s native token, $AVAX, has begun trading on cryptocurrency exchange Kraken, one of the world’s major cryptocurrency trading platforms. The listing comes as AVAX’s price has skyrocketed this year, and its popularity continues to grow.
AVAX will be trading against the USD and EUR and will be available on both Kraken and Kraken Terminal, according to Kraken’s listing statement. The cryptocurrency does not allow for margin trading or futures contracts.
Avalanche is a “distributed system that provides scalability by utilizing three interoperable blockchains. Then, and a Proof-of-Stake consensus method,” according to Kraken. Its goal is to serve as the foundation for a large ecosystem of decentralized apps (dApps).
“🔺 $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
The listing comes as cryptocurrency custody provider BitGo announced it will support the Avalanche network’s native token, $AVAX. Notably, as institutional interest in the network continues to increase.
So, BitGo clients, such as Bitstamp and Bitbuy, will now be able to offer AVAX. Of course, to their users as a result of the shift.
According to data from the Avalanche blockchain, the network has processed over 8 million blocks. Also, establishes over 1.4 million addresses. Over 40 million transactions have been handled on Avalanche, and over 70,000 contracts have been deployed.
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