Avalanche (AVAX) renewed its approach as a L1 chain after the launch of Avalanche9000, moving from specialized chains and subnets to a new, fast network.
Launch and Market Reaction
AVAX recovered above $50 after the official launch of Avalanche9000. The new network had been in testing since November 25, and only weeks later reached the official launch. The launch came just days after Avalanche secured $250M in funding from over 40 VC funds to support the updated network.
Network Transformations
Avalanche9000 is the result of multiple community proposals and was implemented at the Etna upgrade event. Following the upgrade, AVAX recovered to $50.21, on the verge of re-joining the top 10 cryptocurrencies. In November, network activity increased significantly, reaching $1.5M in fees.
Future Plans
Avalanche aims to offer more accessible launches for Web3 startups. The network plans to add projects that will each launch their own network at a minimal cost. The new L1 will be compatible and offer a seamless experience with lower initial fees and gas prices.
The Avalanche9000 upgrade opens new growth opportunities, providing more accessible and cost-effective conditions for launching new projects.
