What Wrapped AVAX represents
Wrapped AVAX (WAVAX) is a wrapped asset, currently ranked 451st by market capitalization among the assets we track. Wrapped AVAX is a wrapped asset: it mirrors the price of an underlying coin from another chain so that asset can be used in smart contracts where it can't natively go. A unit of WAVAX should always be redeemable for a unit of what it wraps.
Wrapped AVAX (WAVAX) is a tokenized version of Avalanche (AVAX) that enables users to interact with various decentralized finance (DeFi) applications on other blockchain networks. It allows for enhanced liquidity and cross-chain compatibility.
How the peg to the underlying holds
Because Wrapped AVAX is only as sound as its custody arrangement, the key question is who holds the underlying and how transparently. The price peg is robust until that custody is in doubt.
Background & fundamentals
In sector terms it is most often filed under Binance Coin (BNB) Token (BEP-20), Polygon (MATIC) Token, and Fantom (FTM) Token.
Where Wrapped AVAX sits in the market
Trading around $6.55, Wrapped AVAX carries a market capitalization of $34.79M. Around $16.44M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 47.26% of the float — unusually high, the kind of churn that accompanies major news or speculative spikes.
Wrapped AVAX carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. WAVAX remains -100% beneath its all-time high of $2,641, the kind of gap that historically takes a full cycle or a fresh catalyst to close.
What the price history shows
Recent moves read 24-hour -0.27%, 7-day +5.08%.
Volatility profile
Recent action puts Wrapped AVAX in the Low-volatility band — it has been relatively stable, with moves typical of large-cap, mature assets.
How to evaluate a wrapped asset like Wrapped AVAX
A grounded read on WAVAX comes down to three questions:
- Custody model — who holds the underlying behind WAVAX and whether reserves are provably 1:1.
- Redeemability — how reliably WAVAX can be converted back to the asset it represents.
- Underlying exposure — remember that holding WAVAX is really holding the underlying — analyze that asset directly.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
