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Avalanche ($AVAX) begins trading on Kraken as activity on the circuit has spiked

Avalanche ($AVAX) begins trading on Kraken as activity on the circuit has spiked

The Avalanche network's native token, $AVAX, has begun trading on cryptocurrency exchange Kraken, one of the largest cryptocurrency trading venues in the world. The listing comes after AVAX's price soared this year and its adoption continues to rise, according to Cryptoglobe.

In its listing announcement, Kraken said AVAX will trade against the U.S. dollar and euro and will be available on both Kraken and Kraken Terminal. Margin trading and futures contracts for the cryptocurrency are not available. Kraken described Avalanche as “a distributed system that achieves scalability through the use of three interacting blockchains and a Proof-of-Stake consensus mechanism”. It is intended to be the basis for a vast ecosystem of decentralized applications (dApps). The listing comes shortly after cryptocurrency custodial firm BitGo announced that it would support Avalanche's own network token, $AVAX, as institutional interest in it continues to grow. The move will allow BitGo customers, including exchanges Bitstamp and Bitbuy, to offer AVAX to their users. Avalanche's blockchain data shows that the network has processed more than 8 million blocks and over 1.4 million addresses have been created on it. Avalanche has now processed more than 40 million transactions, and more than 70,000 contracts have been deployed on it.

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