The crypto money market has started to turn green again after the decline it has experienced in the past weeks, and Avalanche (AVAX), which attracts attention with its high speed, also participated in this rise.
The AVAX project, led by Emin Gün Sirer, showed that it received approval from the community with a new funding, and broke the all-time record.
Big Investment in AVAX
In the announcement made on September 16, it was stated that $230 million was transferred to the AVAX ecosystem in funding led by two leading investment funds, Polychain and Three Arrows Capital.
$230 million in funding will be used directly for the development of the Avalanche blockchain ecosystem. CMS Holdings, Collab+Currency, Lvna Capital and the industry’s leading angel investors also participated in the funding round, apart from the two giant funds. In this way, the price broke the all-time record.
AVAX, which entered the market as an Ethereum competitor and was actively involved in the sector in September 2020, has hosted more than 270 projects since then. Major projects such as SushiSwap, Tether, Chainlink, Circle, and The Graph have also joined the network, and with the latest funding, AVAX can be said to have received community acceptance.
Three Arrows Capital President Kyle Davies said in a statement on the subject that Avalanche is a suitable project for the market and attracts DeFi users.
It is not surprising that AVAX has come to the fore on the days when an average of $26 is needed to transact on the Ethereum network in the last 5 days.