The AVAX token is the platform's unit of account that is used for staking in their unique consensus protocol and as payment for transactions. Much like the Australian dollar is used in our economy, the AVAX token is used in the Avalanche ecosystem.
Beyond trading between investors, the token plays a key role, with validators securing the network by staking AVAX and processing transactions. Most validators on the proof of stake protocol are incredibly fast, which is why the Avalanche blockchain has such a low time to finality. Also, to calculate the market cap, you simply calculate the price by total supply. We automatically include this data on our site.
As always, do your own research before buying Avalanche and make sure you consult a licensed financial professional for financial advice on the risk of investing in cryptocurrency.