Avalanche (AVAX): Price Updates, Recent Developments, Future Events, Community
- Launched in September 2020, Avalanche has built the fastest smart contract platform in the blockchain industry
- Avalanche celebrates the first anniversary of its Mainnet launch with some notable achievements
- To support the growth of its public ecosystem, Avalanche launched a private sale of $230 million in AVAX tokens along with $60 million in fundraising.
- AVAX is one of the top performing cryptocurrencies, gaining more than 70% in 30 days
Avalanche is designed to solve some of the limitations of legacy blockchain platforms, including centralization, slow transaction speed, and scalability. Launched in September 2020, Avalanche has built powerful decentralized and custom applications for the blockchain.
The project runs one of the fastest block chains currently and promises strong scaling capabilities and fast confirmation times. According to Emin Gün Sirer, the avalanche scale will be better than 2.0. So, how was the avalanche?
The avalanche broke the news due to its price hike and the launch of the main network. Ahead of the mainnet’s anniversary, Avalanche launched a private sale of $230 million in AVAX tokens to support the growth of the public Avalanche blockchain ecosystem.
Polychain backed the round, along with Three Arrows Capital, R/Crypto Fund, Dragonfly, CMS Holdings, Collab + Currency, Lvna Capital, and a group of angel investors and family offices.
The Avalanche Foundation also revealed a $60 million funding round. Of the $60 million, $45 million came from a 2020 token sale and a private sale led by Mike Novogratz, Galaxy Digital, Bitmain and Initialized Capital.
In August, the Avalanche Foundation launched the New Avalanche Bridge (AB), ushering in the next generation of cross-chain bridges. The bridge provides the best user experience while prioritizing security and low costs.
Avalanche also launched the first online Dynamic Market Maker (DMM). Additionally, Kyber Network will look to provide improved liquidity and smooth token swaps on the avalanche.
Kyber Network has joined the Avalanche ecosystem as part of the $180 million DeFi stimulus program. The program called Avalanche Rush seeks to add excellent DeFi applications to Avalanche. Already, Aave and Curve have joined the program.
On September 18, Avalanche announced the successful activation of AP4 on the Fuji Testnet. In addition to the already impressive processing speed of 4,500 transactions per second, the Apricot upgrade brought much cheaper fees to the network.
Clearly happy with the updates, @MantrasEnergy tweeted:
Wow, low low low transaction fees!! hugeeeeeeeee update
– The Eyed Baler (@MantrasEnergy) on September 22, 2021
In expanding its reach, on September 20, Moralis announced full avalanche support. Moralis now gives developers on the Avalanche network an easier protocol for dApps. As Avalanche Rush picks up momentum, @CryptoDoggy95 wrote:
I’m sure Avalanche Rush would be like heaven.
– Crypto Doggy (@CryptoDoggy95) September 21, 2021
There are currently more than 270 projects built on the avalanche, including flagships such as Tether, SushiSwap, Chainlink, Circle, and The Graph, and over a thousand validating token nodes.
Avalanche has announced a partnership with Encode Club, an online blockchain education platform. According to Avalanche, work with the Encode Club will begin in October.
The partnership will see both projects educate people about blockchain and Avalanche and bring them into the crypto ecosystem. The nine-month program will begin with a “10-week Solidity Coding Bootcamp to teach Web 2.0 developers about creating Web3 and Avalanche.”
In the coming months, Avalanche will be launching the Avalanche Wallet V6 – a secure and untrustworthy wallet for storing avalanche assets.
AVAX, the original Avalanche icon, was also another shining star. Over the past month, AVAX has gained more than 70%, putting it on top gainers list.
Avalanche (AVAX) 30 day price chart. Source: Tradingview
AVAX gained more than 4% in 24 hours. At the time of this writing, AVAX is trading at $70,700 a piece. Avalanche is now ranked as the 11th largest cryptocurrency, with a market capitalization of $15.72 billion.
on the flip side
- While Avalanche has been a huge hit in the market, it has been criticized for being too centralized.
- The latest fundraising round sheds light on the situation even more
- The tour featured venture capitalists such as Galaxy Digital, Bitmain, and Initialized Capital from Mike Novogratz
Despite being one of the younger projects, Avalanche has built a strong community with a distinct online presence. On Twitter (NYSE:), Avalanche has over 258K followers, while Ava Labs has over 23.5K followers.
Avalanche reached this milestone with a strong social media presence and amazing community engagement. The DailyCoin team has discovered that the Avalanche community is exceptionally optimistic about the future of the project. @mohamme77333916 wrote on Twitter;
Close to $100 per pro unit
– We #Selana (@mohamme77333916) September 21, 2021
Clearly pleased with the developments in the avalanche, KryptoDany wrote;
Good news every day in this space!
— Bang (@KryptoDany) September 22, 2021
Why should you care?
Avalanche sells itself as the fastest smart contract platform in the blockchain industry. Within a year of its launch, Avalanche already had the most validated validators secure its activity for any Proof of Stake protocol. With the launch of the mainnet, Avalanche will be looking to compete for the top spot in the DeFi sector.
Join to get the other side of cryptocurrency
Upgrade your inbox and get our DailyCoin Editors Picks 1x per week delivered straight to your inbox.
You can always unsubscribe with just one click.
Continue reading on DailyCoin