On September 16, the Avalanche Foundation received a $ 230 million investment from a group led by Polychain and Three Arrows Capital. Price Sign of an avalanche AVAX rose to a record $ 68.89 today.

AVAX cryptocurrency, R / Crypto Fund, Dragonfly, CMS Holdings, Collab + Currency, Lvna Capital and a number of angel investors and family offices participated in a private sale of $ 230 million in financing led by Polychain and Three Arrows Capital.

Avalanche noted that this time Bauhinia will accelerate expansion with the rapid growth of decentralized financing or DeFi, enterprise applications and enterprise applications in the Avalanche public blockchain.

The Director of the Avalanche Foundation noted that Avalanche continues to develop the community to increase competitiveness and that it still has great potential to leverage at the intersection of institutions and decentralized funding, and said:

“The avalanche has quickly transformed promise and potential into real impact and value creation for DeFi users and developers.”

The snow zone network is compatible with the Ethereum cross chain. The smart contracts that were originally used in the Ethereum network can be transferred to the Avalanche ecosystem to have higher performance and costs and higher gas charges than the Ethereum chain (ETH).

According to the project website, the first layer protocol can exceed 4500 events per second (TPS) and the completed time is less than 2 seconds.

By Coinmarketcap, AVAX has up 52.08% last week and is currently the 13th largest cryptocurrency market value with a market capitalization of $ 14,128,365,365.

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