• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Avalanche9000 Upgrade: $250 Million Backing and New Platform Features

user avatar

by Giorgi Kostiuk

a year 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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

BitGo Holdings Launches IPO on NYSE, Raising $2.128 Billion

chest

BitGo Holdings has successfully launched its initial public offering on the NYSE, raising $2.128 billion.

user avatarJesper Sørensen

Arbitrage: A Key Component of Market Quality in Prediction Markets

chest

Arbitrage is essential for enhancing the quality of prediction markets by ensuring prices reflect settlement realities and maintaining usability for serious participants.

user avatarFilippo Romano

US DOJ to Dismiss Insider Trading Case Against Nathaniel Chastain

chest

The US Department of Justice will dismiss the insider trading case against Nathaniel Chastain, following a deferred prosecution agreement.

user avatarRajesh Kumar

The Structural Nature of Arbitrage in Prediction Markets

chest

Arbitrage in prediction markets like Polymarket is a structural necessity that stabilizes markets and enhances credibility.

user avatarLucas Weissmann

Historical Lows Predict Market Optimism and Potential Volatility

chest

Historically low cash holdings indicate market optimism, potentially leading to economic booms and increased volatility.

user avatarEmily Carter

Ongoing Deliberation on Corporate Digital Asset Investment Framework

chest

The Financial Services Commission of South Korea is discussing with a public-private task force to create guidelines for corporate participation in digital asset markets.

user avatarTomas Novak

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.