The Avalanche Foundation made a landmark announcement. In this context, Culture Catalyst took an important step in its program and announced its first community cryptocurrency collection. This initiative is part of the Foundation’s commitment to acquire community coins native to the Avalanche Blockchain network.
Avalanche Foundation introduces meme coin holdings
cryptokoin.comAs you follow from, Avalanche Foundation announced that it will choose some meme coins as community tokens. In the latest development, the Foundation first selected 5 meme coins. This move underscores the Foundation’s commitment to nurturing Web3 creators, driving innovation on Avalanche, and supporting broader adoption of Blockchain.
Community tokens have emerged in the Web3 ecosystem as key symbols that encapsulate the vitality and diversity of the crypto community. Recognizing the importance of these tokens, the Avalanche Foundation selected five community tokens that embody the fun, spirit, and uniqueness of their communities. In this context, he announced the 5 meme coins he chose for investment:
Community coins have become one of the cornerstones of Web3, representing the spirit, uniqueness and interests of various crypto communities. Today, the Avalanche Foundation announced its first five community coins: Coq Inu (COQ), Kimbo (KIMBO), NumberGoUpTech (TECH), Gecko (GEC), and AVAX Has No Chill (NOCHILL).
Why is Avalanche investing in these meme coins?
These coins were selected according to the Foundation’s rigorous eligibility guidelines. The selection evaluated a coin’s loyalty to Avalanche and its adherence to fair Web3 practices. The foundation’s support for community coins is an effort to closely follow the rapid development of the crypto world.
The evaluation process is dynamic with the potential for other community coins to be included, such as ERC-404 tokens, which are making a notable entry as a new token class within the Avalanche community. The Avalanche Foundation maintains the flexibility to change its community coin holdings and eligibility criteria to align with its mission and goals of this initiative. However, it does not guarantee that all community coins that meet the criteria will be purchased.
ITB: AVAX Blockchain reached 329 million dollars in large transaction volume
Major daily transaction volume on decentralized, open-source Proof-of-Stake Blockchain Avalanche has surged to its highest level since December 2023, with the network’s native token AVAX reaching levels not seen since May 2022. Crypto market intelligence platform IntoTheBlock shared Avalanche’s massive daily trading volume. Accordingly, transaction volume reached 329 million dollars on Monday, March 11. Thus, he pointed to increased activity by large AVAX holders.
The last time large AVAX transactions – those valued at $100,000 or more – recorded volumes around the current figure was on December 29, when the amount settled at $412 million. At that time, AVAX was valued at $48 and the number of large transactions was more than 2,800. Two weeks ago, large AVAX transactions unburdened the bull market. Thus, it reached its peak of 1,000. This figure dropped from 2,800 recorded on December 29 to 1,600 in mid-January, along with large transaction volumes. However, IntoTheBlock data suggests another rebound.
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