What to know:
- Avalanche has raised $250 million in a token sale led by Galaxy Digital, Dragonfly and ParaFi Capital.
- The sale follows shortly after the Avalanche9000 upgrade went live in a testnet environment.
As a seasoned crypto investor with a knack for recognizing promising projects, I must say that Avalanche’s recent $250 million token sale led by industry heavyweights like Galaxy Digital, Dragonfly, and ParaFi Capital has certainly piqued my interest. The fact that more than 40 investment firms participated in the deal speaks volumes about the confidence these institutions have in Avalanche’s potential.
The blockchain platform, Avalanche, which is undergoing technological advancements, successfully secured $250 million during a token offering, with Galaxy Digital, Dragonfly, and ParaFi Capital leading the investment round.
More than 40 investment firms participated in the deal.
After the launch of the Avalanche9000 upgrade in a testing phase, the update is geared towards reducing transaction fees and simplifying the process for validators within the network, ultimately making it more accessible for developers to create apps on Avalanche. The update claims to decrease deployment costs by 99%, as stated in a recent announcement.
In a span following the announcement of its token sale, Avalanche’s native currency, AVAX, has surged by approximately 4.95%. Over the past day, it has even seen an increase of about 9.6%. Meanwhile, the overall cryptocurrency market, as represented by the CoinDesk 20 Index (CD20), has risen by 2.48% during this same period.
According to information from DefiLlama, Avalanche ranks as the 10th largest cryptocurrency blockchain in terms of value held (Total Value Locked), with a worth of approximately $1.6 billion.
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2024-12-12 18:39