Coinbase Initiates Avalanche (AVAX) Staking, Aiming for Price Rebound
1 month ago
Avalanche
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Coinbase has introduced Avalanche (AVAX) staking, offering a 4.47% annual percentage yield and a set of precautions due to the inherent volatility of cryptocurrencies. The inclusion of Avalanche, known for its superior transaction speeds compared to Bitcoin, in Coinbase's staking options marks a significant endorsement of the blockchain. This development could potentially drive up AVAX's price, although it recently saw a decrease of 8.35%, pricing it at $36.80. Despite the opportunities, Coinbase warns users to diversify their investments and conduct thorough research due to the lack of regulatory protections. This staking initiative occurs amid broader regulatory challenges in the U.S., where the Securities and Exchange Commission has been active in addressing concerns around crypto staking services.