- Coinbase now offers the Avalanche Stake (AVAX) with a competitive 4.47% APY, enhancing its blockchain portfolio.
- Amid fluctuating market conditions, Coinbase stresses the need to diversify investments and do thorough research.
Coinbase has recently expanded its cryptocurrency offering with the introduction of staking services for Avalanche (AVAX), promising an annual equivalent yield (APY) of 4.47%. This new feature not only adds to Coinbase’s diverse investment opportunities, but also signals strong support for Avalanche’s capabilities, particularly its impressive transaction speeds exceeding those of Bitcoin.
Overcome regulatory and market challenges
As discussed in a recent CNF YouTube video, the introduction of the AVAX staking comes at a time when the US regulatory landscape is increasingly scrutinizing cryptocurrency services. The Securities and Exchange Commission (SEC) continues to address issues surrounding cryptocurrency betting.
In light of these challenges, Coinbase advises its users to diversify their portfolios and conduct detailed research given the volatile nature of cryptocurrencies and the current lack of regulatory protections.
Avalanche performance and market dynamics
Avalanche is known for its high transactions per second (TPS) rate, significantly outperforming Bitcoin with approximately 4,500 TPS compared to Bitcoin’s 7. At the time of writing, Avalanche has seen a price drop of 8.35% in the last 24 hours, currently sitting at $36.80.
However, recent staking news could reverse this bearish trend in the near future. Despite a month-on-month decline in betting interest, the Avalanche still maintains a healthy betting ratio of 58.46%, which translates to a significant betting market capitalization.
Previously, a CNF article discussed how Avalanche is poised for a potential rally to $40, driven by its innovative approach to tokenizing real-world assets like fine wines. This strategy not only increases Avalanche’s attractiveness, but also its overall market position.
As a direct result of the launch of Avalanche staking on Coinbase, AVAX prices were recorded at 37.57$, after a decrease in 6.11% on the last day, although showing an increase in 2.56% in the last week. Observers are encouraged to follow AVAX price patterns closely.
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