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Avalanche

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

The Avalanche protocol was released by an anonymous group called Team Rocket in May of 2018. It was then developed by a group of Cornell researchers led by Emin Gun Sirer, who is now the founder and CEO of Ava Labs. 

The Avalanche Mainnet was launched in September 2020, when it also issued its native $AVAX token. 

Avalanche is an open, programmable smart contracts platform built to enable the launch of decentralized applications that are scalable and secure. 

Avalanche is designed with an emphasis on interoperability, meaning its infrastructure could be utilized by a multitude of blockchains that use $AVAX as the underlying token. 

$AVAX has a capped supply of 720 million tokens. The rate at which the maximum cap is reached is subject to governance of token holders. 360 million tokens were supplied at the genesis block, while the remaining 360 million are minted over time. 

Avalanche has gained traction with decentralized finance applications due to its high speeds and low costs. Total value locked (TVL) on the Avalanche ecosystem exceeds $13 billion as of Nov. 2021. It crossed $1 billion for the first time in late August 2021.


Avalanche's top DeFi protocols by TVL are Aave and Trader Joe. TVL represents the amount of assets being staked on a certain protocol.

Solana

Grayscale Investments has asked the SEC for permission to convert its Digital Large Cap Fund—which includes Solana and more—into an ETF.

Grayscale Seeks to Convert Fund With Solana, XRP and Avalanche Into ETF

Terra

The key organization backing the Avalanche (AVAX) blockchain ecosystem is announcing plans to repurchase crypto assets sold to the nonprofit behind the Terra (LUNA) protocol in the first half of 2022.

Avalanche Foundation Seeking To Buy Back $56,795,000 in AVAX Sold to Luna Foundation Guard Before 2022 Collapse

The price of Avalanche's token has risen over 13% in the last few days following the announcement and the growing popularity of a new crypto game.

Avalanche Foundation to repurchase tokens sold to Terra's LFG in 2022 deal, pending court approval

The Web3 industry has yet to fully enter the mainstream, according to John Nahas, chief business officer (CBO) of Ava Labs. He argues that general-purpose Layer 1 blockchains, whose primary focus is marketing their tokens, dominate the space and lack sufficient innovation. This, Nahas contends, hinders the industry's full potential.

Regulation Brings Clarity to Web3 Market, Developers, and Companies, Says Ava Labs CBO

A widely followed analyst and trader says that an exponential rally for one of Ethereum's (ETH) biggest rivals could be around the corner.

Crypto Analyst Says 1,400%+ Price Surge for One Ethereum Rival Not As ‘Crazy as It Sounds'

Littio, a Colombian neobank, has joined forces with Avalanche to offer interest-bearing USD accounts through Opentrade's blockchain-based platform. The partnership aims to provide financial solutions to Latin Americans facing high inflation and currency devaluation.

Avalanche Powers Littio's New USD Savings Accounts in Latin America

To scale with growing demand, Littio said it would transition its holdings from OpenTrade's vaults on Ethereum to those on Avalanche.

Why This Colombian Neobank is Switching From Ethereum to Avalanche

Ethereum

Avalanche's low transaction fees and consistency were cited as reasons for picking that chain.

LatAm Bank Littio Ditches Ethereum for Avalanche as Demand for RWA Vaults Grows

The price of Avalanche (AVAX) has been on the rise since its low of $17.35. The upward correction has failed after reaching the first barrier at $30.00.

Avalanche Rally Fails As It Battles The $30 Barrier

Avalanche (AVAX) reached its price target of $30.90 on September 17.

Avalanche Returns To Its Range And Reaches $30 High

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

CoinDesk 20 Performance Update: AVAX Gains 3.6% as Index Rallies

The program, called Retro9000, is supposed to encourage developers to build on Avalanche ahead of a much-anticipated upgrade known as Avalanche9000.

Avalanche Unveils $40M Grant Program Ahead of 'Avalanche9000' Upgrade

A dive into the success of Avalanche's BOOST campaign on its DeFi ecosystem

Research Unlock: An overview of Avalanche DeFi Ecosystem and BOOST Campaign

The price of Avalanche (AVAX) corrected upwards after breaking above the moving average lines.

Avalanche Regains Positive Momentum But Remains At $28

Bitcoin

A widely followed cryptocurrency analyst and trader believes one Ethereum (ETH) competitor is forming a bullish reversal pattern. The analyst pseudonymously known as Rekt Capital tells his 499,100 followers on the social media platform X that Avalanche (AVAX) may have reached a market bottom after a retest of a key level around $21.

Crypto Analyst Says Downtrend for Top Ethereum Rival Is Over, Maps Path Forward for Bitcoin and One AI Altcoin

The state of Avalanche reflects a broader trend, where crypto projects are struggling to find compelling use cases and maintain user interest.

Avalanche faces 70% drop in active users as C-Chain activity hits 12-month low

Avalanche targets institutional adoption as crypto projects seek use cases

The price of Avalanche (AVAX) continues to trade above the $19 support but below the $27 resistance.

Avalanche Consolidates Above $20 But Risks A Possible Decline

The tokenized fund, which is running on the Avalanche blockchain, opens ParaFi's venture strategy to a new group of investors

ParaFi Capital tokenizes portion of $1 billion venture funding on Avalanche via Securitize

The CoinDesk 20 jumped 4.2% over the weekend with all but one asset in the green.

CoinDesk 20 Performance Update: AVAX Surges 12.8%, Pushing Index Higher

Users of investment platform Republic on Avalanche will be able to buy into a slate of films, with perks including producer credits and set visits.

'Wall Street', 'American Psycho' Studio Raising Film Funding via Avalanche

The price of Avalanche (AVAX) has dropped significantly and is nearing the bottom of the chart. The altcoin has fallen to a low of $17.35 and could fall further.

Avalanche Hovers Above $20 As It Approaches A Drop

The price of Avalanche (AVAX) is falling below the moving average lines after hitting a low of $17.35 before recovering.

Avalanche Pulls Back As It Threatens To Fall Below $20

Chainlink

Hong Kong's HashKey Exchange has listed AVAX/USD and LINK/USD trading pairs for retail investors, the first crypto pairs beyond BTC and ETH.

HashKey Exchange lists AVAX and LINK for retail trading following bitcoin and ether

Following the hack of the Polygon Discord server, Avalanche's official X account (@avax) alerted the public that their Discord channel had also been breached. “SECURITY ALERT,” Avalanche announced. “The official Avalanche Discord has been compromised. Please do not interact with any accounts or click any links until further notice.

News for Avalanche Crypto (AVAX)