On the evening of November 17, the native token of the Avalanche blockchain renewed its all-time high above $ 110, despite the general market correction. Over the past 24 hours, the price of AVAX has increased by almost 10%, over the week – by 24%, according to CoinGecko.
At the time of writing, the asset is trading near $ 106. Its market capitalization exceeds $ 23.28 billion.
Binance Hourly AVAX / USDT Chart. Data: TradingView.
Since AAVE tokens are used to pay network fees and are involved in the consensus mechanism, their price grows along with the popularity of decentralized applications based on this blockchain platform. Over the past 30 days, the amount of blocked funds (TVL) in its smart contracts increased by 61%, reaching $ 11.1 billion.
TVL ecosystem Avalanche. Data: DeFi Llama.
The explosive growth of the indicator occurred after the integration with the Aave landing platform. The owners of ERC-20 standard assets were able to transfer them to the Avalanche blockchain using the cross-chain bridge. Aave accounts for 29% of the funds locked in the protocol’s smart contracts.
The popular decentralized exchange (DEX) Trader Joe also operates on the basis of Avalanche – its TVL exceeded $ 2 billion in November. According to CoinGecko, in terms of daily trading volume, the platform has bypassed such players as Uniswap v2, Sushiswap and Curve Finance. The latter also supports exchange on this blockchain.
On November 16, the head of Avalanche’s development company Ava Labs, Emin Gün Sirer, announced a partnership with the Big Four auditing firm Deloitte.
1/ Ava Labs is thrilled to announce its partnership with @Deloitte to build more efficient disaster relief platforms using the Avalanche blockchain.
This effort combines the speed, resilience and adaptability of Avalanche, and Deloitte’s Fortune 100 enterprise knowledge. 🧵⬇️
— Emin Gün Sirer🔺 (@el33th4xor) November 16, 2021
As part of the cooperation, the parties will launch the Close As You Go cloud platform, focused on helping victims of natural disasters. Through the Avalanche blockchain-based service, state and local governments in the United States will be able to “demonstrate eligibility” to receive funding from FEMA.
Avalanche co-founder Kevin Sekniki noted that as AVAX’s price rises, some ardent supporters of the project have begun to speak negatively about other products. He urged them not to. The specialist was supported by Gyun Sirer.
“Please don’t be the maximalist of Avalanche. Let’s always remain open-minded, kind and scientific-oriented – that’s why we are here, “- wrote the head of Ava Labs.
In November, the Avalanche Foundation announced the launch of a fund of over $ 200 million to accelerate the development, growth and support of innovation in the Avalanche public blockchain ecosystem.
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