Coinbase Pro Adds Avalanche (AVAX) to its Crypto Trading Offering

Key takeaways:

• Coinbase Pro has expanded its cryptocurrency repertoire with the inclusion of massively popular DeFi project, Avalanche
• AVAX (of C-Chain variety) trading will commence on September 30 at 4:00 PM UTC
• AVAX has been of the better performing digital assets of the year, gaining more than 2,000% YTD

Starting with September 29, Coinbase Pro has started offering Avalanche support on its cryptocurrency exchange platform aimed at active traders, according to a blog post. Trading will commence today, at 4:00 PM UTC, as long as the necessary liquidity requirements are met. 

Coinbase Pro will offer three AVAX trading two fiat trading pairs, AVAX-USD and AVAX-EUR, as well as a crypto option in AVAX-USDT. Keep in mind that Coinbase currently offers support for C-Chain AVAX tokens exclusively, meaning that P-Chain and X-Chain transfers will result in a permanent loss of funds. 

The Avalanche team is excited about the new listing and believes that it will increase the accessibility of the popular decentralized finance (DeFi) token and bring “AVAX to a broader set of users.”

🚨 Big News Update 🚨 $AVAX is now available to transfer to @CoinbasePro! Trading is expected to begin tomorrow, Sept. 30, on or after 9AM PT. This listing increases the accessibility of #Avalanche to a broader set of users, including those in the US 🔺https://t.co/Bh8pCys1ma

— Avalanche 🔺 (@avalancheavax) September 29, 2021

AVAX is one of the most successful cryptos of 2021

AVAX has been one of the best-performing digital assets this year. The price of the rapidly growing DeFi token has increased by more than 20-fold since the beginning of the year. Over the last three months, AVAX has enjoyed particular success, as the coin managed to momentarily break into crypto’s top 10 largest projects by market cap.

The most recent rally coincided with the launch of the $230 million Avalanche Fund, which was funded by proceeds from the private sale of AVAX tokens. Polychain and Three Arrows Capital were reportedly the largest investors. The fund was created in order to help fuel the growth of the DeFi ecosystem by supporting nascent projects via financial grants and token purchases.

Avalanche is a highly interoperable smart contract-enabled blockchain ecosystem that is positioned as one of the best alternatives to Ethereum. If you wish to find out more about the Avalanche project, check out our recent Coins to Watch segment.

UPDATE (Oct. 4, 2021): Support for AVAX has been expanded. The token is now available both on Coinbase and Coinbase Pro exchange platforms. To read the announcement on Coinbase’s blog, click here