• 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

Shiba Inu Exchange Balances Decline Significantly

chest

Shiba Inu balances on Binance have reportedly fallen by 1101 trillion SHIB over the past month, raising concerns and interest among traders.

user avatarMaria Gutierrez

Capital B Secures Shareholder Approval for Aggressive Bitcoin Treasury Strategy

chest

Capital B has received shareholder backing for a significant Bitcoin treasury financing plan, allowing the company to raise capital for future BTC accumulation.

user avatarAndrew Smith

Capital B Aims to Become Major European Bitcoin Treasury Company

chest

Capital B is positioning itself as a European corporate Bitcoin treasury vehicle with a long-term goal of acquiring 1% of Bitcoin's circulating supply by 2033.

user avatarDavid Robinson

Morgan Stanley Proposes Low-Fee Ethereum and Solana ETFs

chest

Morgan Stanley has proposed low-fee Ethereum and Solana ETFs with a 0.14% annual sponsor fee, retaining 95% of staking rewards for investors.

user avatarJacob Williams

AllUnity Expands Europe's Stablecoin Market with SEKAU

chest

AllUnity has launched SEKAU, a Swedish krona-backed stablecoin designed for institutional settlement and digital payments under the EU's MiCA framework.

user avatarZainab Kamara

Safety Tips for Crypto Users Amid Malware Threat

chest

Microsoft provides practical safety tips for cryptocurrency users to avoid falling victim to clipboard malware.

user avatarAyman Ben Youssef

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.