Bitcoin (BTC) After the FTX collapse, it got rid of the declining levels it experienced and experienced an increase of around 40%. along with bitcoin altcoin market is also volatile.
One of these altcoins Avalanche native cryptocurrency of blockchain network AVAX it happened.
According to analysts, the reasons for the rise in AVAX include the rally since the beginning of January, as well as Avalanche’s partnership with Intain, a structured finance platform.
Intain MARKETS, an on-chain marketplace for tokenized asset-backed securities, allows customers to issue and trade asset-backed securities on-chain.
last day of january Avalancheannounced its partnership with Intain as its first corporate subnet. It was stated that this partnership, which is an important milestone for the entire Avalanche ecosystem, can help institutional adoption of the platform.
Commenting on the partnership John Wu, President of Ava Labs said:
“IntainMARKETS is one of the first structured finance markets we’ve seen combining tokenized issuance and investment with end-to-end management on-chain.
The size of the opportunities offered with IntainMARKETS impressed us as well.
We also want Avalanche to be the blockchain protocol of choice for adding traditional financial assets to the chain. This platform addresses the $2 trillion export market opportunity.”
Another factor supporting AVAX’s recent price rally was a strong increase in daily transactions on the Avalanche blockchain network.
Because, according to the Messari report for the fourth quarter of 2022, both the Avalanche network developed and the price increased accordingly.
AVAX, which has increased by 22% in the last 7 days and 14% in the last 24 hours in the face of positive events, continues to be traded at $ 21.82 at the time of writing.
The first institutional Subnet is here!
.@IntainFTa structured finance platform that facilitates administration of $5.5B in assets, is launching IntainMARKETS, an on-chain marketplace for tokenized asset-backed securities.
Let’s take a look at why Intain #ChoseAvalanche /🧵 pic.twitter.com/yFGqLIasD1
— Avalanche 🔺 (@avalancheavax) January 31, 2023
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!