AVAX: avalanche of sorrel for the development of the Ava Labs blockchain

For once, we cannot say that the Avalanche (AVAX) blockchain does not have the funds to develop its blockchain! In March we announced that an envelope of $ 290 million was earmarked for the development of Avalanche. Today is Ava Labs’ turn to participate in a funding round that will propel it into the Pantheon of the most valuable cryptocurrency companies in the world!

Avalanche”All schus»On financing

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

According to Bloomberg, it appears Ava Labs has completed a fundraiser in the amount of 350 million dollars. The realization of this round of financing will therefore lead to the valuation of the company a $ 5.25 billion. Which would make it one of the most valuable cryptocurrency companies in the world.

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

>> Up to € 200 free registration to start your AVAX adventure well? Swissborg is waiting for you! (affiliate link) <

The avalanche seduces investors

The team therefore seems enthusiastic and continues to believe in his project. This enthusiasm can also be felt at the investor level. In fact, for several years, the blockchain has linked financing to financing. Last year, Polychain Capital and Three Arrows Capital conducted a funding round 230 million dollars on behalf of the Avalanche Foundation. In 2020 it already was 12 million dollars, which were collected during a private token sale. This private sale was led by Bitmain and Galaxy Digital, among others.

Users at the edge of the AVAX tracks

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

And despite the current market environment. The Avalanche token is doing quite well, as it is inside 8th position and capitalize more than 20 billion dollars (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 these interviews right here:

Everything seems to be fine for Avalanche. AVAX was also used by the LUNA foundation to increase its reserves, which are used to support their UST stablecoin.

If Avalanche attracts investors so much it is 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 links, for a deposit of 50 € minimum).

Leave a Comment