A must know about Avax
The Avalanche mainnet was launched in September 2020 with the AVAX token trading at $5.3. The digital token would trade below the $5 mark for the next few months until Jan 9, 2021, until it finally broke an important barrier of around $5.7. During the 2021 bull run, AVAX maintained its upward trajectory and reached a price of $55 in early February 2021.
In August 2021, the AVAX price rose again to $76 following an announcement of a $180 million liquidity mining incentive program. This meant Avalanche users would have access to certain Ethereum DeFi protocols and by using them through Avalanche, they would have the possibility to earn incentives in the form of AVAX tokens.
In the aftermath of this major announcement, the price of AVAX didn’t do much for the next few months. It wouldn’t be until August of 2021 when the coin finally surpassed its previous all-time high. At the peak of the 2021 bull run, AVAX recorded its highest-ever price of $128 in November 2021. This price peak coincided with an announcement by Ava Labs that it was partnering with global accounting company Deloitte to build a more efficient disaster relief system based on the Avalanche blockchain.
Going into 2022, the price of AVAX fluctuated between $90-$120 until April 2022 when it declined in tandem with the broader cryptocurrency sell-off.As of today it is trading at around $22 .
