New York-based blockchain company Ava Labs, the developer of the Avalanche (AVAX) network, has raised $350 million, reaching a valuation of $5.25 billion.
Founded and managed by Cornell University professor Emin Gün Sirer, BNNBloomberg reported on April 14. Ava Labs 350 raising millions of dollars in capital 5.25 billion dollar reached valuation and is one of the largest crypto startups in this field. became one.
Founded in 2018, Ava Labs has in the last few years; From Balaji Srinivasan, Naval Ravikant, Andreessen Horowitz, Initialized Capital and Polychain Capital reportedly invested.
In the news, it was said that Avalanche, which is known to offer high transfer speeds and low transaction fees, is in a struggle with its competitors such as Ethereum and Solana.
In a previous report, Bank of America stated that the smart contract platform Avalanche appears to be an alternative to Ethereum, thanks to its secure and decentralized scaling ability.
In the last seven-day period 5.19′ with the correction in bitcoinAvax, the local token of Avalache, which has experienced a loss of value, is approximately at the time of writing, according to CoinMarketCap data. 80 traded in dollars.
AVAX is listed as the 10th most valuable cryptocurrency in the list made by CoinMarketCap. In addition, the market value of AVAX is approximately 21.5 billion. dollar.