In the evening of November 17, the native token of the Avalanche blockchain hit an all-time high above $110, despite a broad market correction. Over the last 24 hours, AVAX rose by almost 10%, and over the week by 24%, according to CoinGecko.
At the time of writing, the asset hovered near $106. Its market capitalization exceeds $23.28 billion.
Because AVAX tokens are used to pay network fees and participate in the consensus mechanism, their price rises with the popularity of decentralized applications built on this blockchain platform. Over the past 30 days, the total value locked (TVL) in its smart contracts rose by 61%, reaching $11.1 billion.
Earlier in November, integration with the lending platform Aave. Asset holders of the ERC-20 standard gained the ability to transfer them to the Avalanche blockchain using the cross-chain bridge. Aave accounts for 29% of the assets locked in the protocol’s smart contracts.
The Avalanche ecosystem also hosts the popular decentralised exchange Trader Joe — its TVL in November surpassed $2 billion. According to CoinGecko, by daily trading volume the platform outsized players such as Uniswap v2, Sushiswap and Curve Finance. The latter also supports trading on this blockchain.
On November 16, Ava Labs CEO Emin Gün Sirer announced a partnership with Deloitte, the Big Four audit firm.
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
«Пожалуйста, не будьте максималистами Avalanche. Давайте всегда оставаться непредвзятыми, добрыми и научно-ориентированными — благодаря этому мы оказались здесь», — написал глава Ava Labs.
Earlier in November, the Avalanche Foundation announced the launch of a fund of more than $200 million to accelerate development, growth and support for innovations in the Avalanche public blockchain ecosystem.
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