Avalanche breaks all-time high when the news of an increase of $ 230 million
Avalanche breaks all-time high when the news of an increase of $ 230 million
The investment was made by a private token sale in June this year.
The central theses
- has announced a token sale of $ 230 million, which is headed together by Polychain Capital and Three Arrows Capital.
- The Avalanche Foundation said that it would use the proceeds from the token sale to accelerate the growth of Defi.
- The financing of $ 230 million has further increased the value of Avax; The token is traded on its all -time high of $ 66.
avalanche has completed a round of funding in the amount of $ 230 million under the direction of Polychain Capital and Three Arrows Capital.
Krypto investors support the avalanche ecosystem
avalanche has landed an investment of $ 230 million in order to expand its ecosystem of some of the top investors in the area of digital assets, the Avalanche Foundation announced today.
Polychain Capital and Three Arrows Capital carried out private token sales in June 2021. Other participants were R/Crypto Fund, Dragonfly Capital, CMS Holdings, Collab+Currency, LVNA Capital and several fishing investors.
The Avalanche Foundation said that it would use the proceeds from token sales to accelerate the growth of Defi, corporate applications and other applications.
The 230 million dollar financing message has been the latest booster for Avalanches native token Avax, which has risen to a new all-time high of $ 66 since the announcement was published.
In the last 24 hours, the token price has increased by more than 24%. Since the announcement of Avalanche Rush of the Layer-1 blockchain, it has increased by about 200%, in which the AAVE and Curve network, two cornerstones of the Ethereum defi ecosystem, has integrated.
Olaf Carlson-Wee, the founder and CEO of Polychain Capital, said his company was "pleased to support Avalanche, while the platform is further expanding its dynamic community of open source developers.
avalanche has attracted a lot of attention due to its scalable, compatible layer 1 network compatible with virtual machines, which enables him to support the same defi apps for which Ethereum is known at higher speed and lower costs.
The most promising value promise of avalanches are block times with low latency compared to Ethereum and other EVM compatible chains. It can achieve a high throughput of 4,500 transactions per second and block times of 1 second while maintaining decentralization. The network currently has the highest number of validators that secure the network for each proof-of-stake protocol.
avalanche has gained dynamics since the start of his liquidity mining program Avalanche Rush. Last month, people like Su Zhu von Three Arrows Capital spoke out loudly for the blockchain and their community. Many other crypto enthusiasts have shared memes about the "bridging" of Ethereum into the network.
To the present day, crypto-assets worth over $ 1 billion were bridged by Ethereum and provided for various defi protocols on Avalanche, including ,, pangolin and Benqi. According to the Avalanche Foundation, over 270 projects are building on the network.