AVAX: Avalanche of sorrel to develop the Ava Labs blockchain

For once, we cannot say that the Avalanche blockchain (AVAX) lacks funding to develop its blockchain! In March, we announced that an envelope of $290 million was intended to develop Avalanche. Today, it’s Ava Labs’ turn to participate in a funding round that will propel it into the Pantheon of the most valuable crypto companies in the world!

Avalanche”Everything schuss» on financing

Founded in 2018, Ava Labs Inc. – the company that created the Avalanche blockchain – had lifted $6 million in 2019 from prestigious investors, such as Andreessen Horowitz and Polychain. This company is founded and managed by Emin Gün Sirer, a professor at Cornell University. It now has 191 employees.

According to Bloombergit seems that Ava Labs has completed a fundraiser for the amount of $350 million. The realization of this funding round will therefore bring the valuation of the company to $5.25 billion. Which would make it one of the most valuable crypto companies in the world.

Avalanche therefore continues its development, despite this period of doubt on the markets.

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Avalanche seduces investors

The team therefore seems enthusiastic and continues to believe in its project. This enthusiasm is also perceptible at the level of investors. Indeed, for several years, the blockchain has linked financing to financing. Last year, Polychain Capital and Three Arrows Capital led a funding round of $230 million on behalf of the Avalanche Foundation. In 2020, it was already $12 million, which were raised during a private token sale. This private sale was led by Bitmain and Galaxy Digital, among others.

Users at the edge of the AVAX slopes

But enough of investments and investors. When it comes to user enthusiasm, we can see that blockchain adoption is a success. Avalanche is part of the top 5 blockchains, if we refer to its TVL, since it is classified as 4th position with over $10 billion blocked on DeFi protocols.

And despite the current market environment. The Avalanche token is doing quite well, as it is in 8th place and capitalizes more than $20 billion (excluding stablecoins, at the time of this writing).

Recently, the Avalanche Summit conference took place in Barcelona and was a great success. This conference was also a way for Sami to talk to different players in the DeFi ecosystem. You can find all of these interviews right here:

Everything seems to be going well for Avalanche. The AVAX has also been used by the LUNA foundation to increase its reserves, which are used to support their UST stablecoin.

If Avalanche appeals to investors so much, it’s because this project is solid! Do you want to add AVAX to your portfolio? Register today on the SwissBorg platform and enjoy an exceptional bonus: up to €200 offered in cryptocurrencies (affiliate link, for a deposit of 50€ minimum).

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AVAX: Avalanche of sorrel to develop the Ava Labs blockchain

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