Avalanche Funding Reaches $250 Million As TVL Surges
avalanche Foundation raised $250 million through a private locked token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital. AVAX price rose nearly 9% after announcing trading at $52.80.
As Bitcoin stabilizes above $100,000 and the crypto market takes a breather, AVAX appears to be gearing up for a rebound.
Avalanche raises funding ahead of upcoming network upgrade
Avalanche Foundation Announce More than 40 investment firms participated in US$250 million in investments Financing round. This announcement follows the launch of the Avalanche9000 testnet on November 25th.
Avalanche9000 upgrade It is planned to be launched on the mainnet on December 16th. The upgrade aims to reduce blockchain deployment costs by 99.9%, allow for inter-chain communication, and unlock over $40 million in developer rewards.
“Avalanche9000 is driving the next generation of scalable, purpose-built L1 blockchains. Over 500 L1 chains have been developed across various industries, such as Tokenization Real-world assets, loyalty and rewards, gaming, payments and institutional programs,” the Avalanche Foundation posted on X (formerly Twitter).
In the midst of all this, Avalanche Blockchain Another milestone has been reached. The network’s total value locked (TVL) has exceeded $1.65 billion, its highest level in nearly two years. The growth of TVL demonstrates Avalanche’s appeal in the decentralized finance space (Decentralized Finance) industry, potentially attracting new users and capital.
When it comes to blockchain’s native tokens, AVAX has witnessed substantial growth Past 30 days. this Token price It is up 50% over the past month and is trading at $52.80 at press time.
In December, the coin managed to break above $50 but appeared to be stuck around $52 after failing to hold above $54 on December 9. If the post-announcement momentum holds, AVAX could break above $60, Return to early highs.
this relative strength indicator 62 indicates that the price still has room to rise before hitting the overbought zone. Bollinger Bands further confirm this view: The price of AVAX enters a volatile phase. After the squeeze, the channel is widening, which is a sign of a breakout.
However, Santiment data shows that weighted sentiment for AVAX is in negative territory, which could spell trouble for the coin. Still, strong volume supporting price gains over the past 24 hours suggests demand is there.
Further data showed that, as of press time, 80% of addresses were in profit, while 16% were “in the red.” This means that only 16% of AVAX holders are now in the red. If there is sufficient demand and AVAX rebounds higher, then these holders may take profits or enter a breakeven point.
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