Avalanche9000 Upgrade: $250 Million Backing and New Platform Features

user avatar

by Giorgi Kostiuk

2 years ago

Avalanche, a layer-1 blockchain, has completed a $250 million funding round to support the Avalanche9000 upgrade. The funding was led by Galaxy Digital, Dragonfly, and ParaFi Capital.

What is Avalanche9000?

Avalanche9000 is the most significant upgrade to the network to date, aiming to make the platform more developer-friendly, cost-efficient, and scalable. The upgrade reduces blockchain deployment costs by 99.9%. Key features include interchain communication and scalability developments, supporting over 500 blockchains.

A single chain cannot cater to all use cases, no matter how fast you make it. The only winning architecture is essentially multi-chain.Emin Gün Sirer, Avalanche cofounder

Momentum in DeFi and Gaming

Avalanche's Total Value Locked (TVL) has surged to $1.65 billion, marking its highest in nearly two years. The growth reflects its rising appeal in the decentralized finance ecosystem. In gaming, Avalanche has made notable strides with games like 'Off The Grid' becoming the top free game on the Epic Games Store.

Institutional Adoption of Avalanche

Institutional interest in Avalanche is also on the rise. BlackRock and Franklin Templeton funds have expanded their platforms to include Avalanche, highlighting its growing prominence in the digital finance ecosystem.

The Avalanche9000 upgrade marks a significant milestone for the platform, offering enhanced capabilities for developers and drawing the attention of institutional investors.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Slips Toward $74,000 After Fed Governor Signals December Rate Hike

Bitcoin's value has dropped significantly, approaching the $74,000 level, as Federal Reserve Governor Christopher Waller voiced clear support for raising interest rates at the upcoming December FOMC meeting.

user avatarLeo van der Veen

MARA Reports Significant Bitcoin Sales and Loan Repayment

MARA disclosed significant Bitcoin sales and loan repayment, marking a strategic shift from holding to monetizing reserves.

user avatarLi Weicheng

US Spot Ether ETFs Face Major Withdrawals on November 9

On November 9, US spot Ether ETFs experienced significant net withdrawals totaling $1.846 billion, primarily driven by BlackRock's ETHA, reflecting ongoing investor concerns about market conditions.

user avatarAisha Farooq

Crypto Firms Rally Behind CFTC in Perpetual Futures Legal Battle

Coinbase, Kalshi, and four other companies filed an amicus brief supporting the CFTC's authority to regulate perpetual futures tied to US stocks amid a significant lawsuit.

user avatarBayarjavkhlan Ganbaatar

CMAA Challenges CFTC's Authority Over Perpetual Futures

The Capital Markets Alliance Association (CMAA) has filed a lawsuit against the Commodity Futures Trading Commission (CFTC), claiming that perpetual futures should be classified as security-based swaps, which would impose stricter regulations.

user avatarTenzin Dorje

XRP Ledger Foundation Unveils Quantum-Resistant Account Design

The XRP Ledger Foundation has introduced a quantum-resistant account design using the MLDSA44 signature scheme, allowing users to transition to new keys without additional costs by 2028.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.