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Avalanche (AVAX) has successfully raised $250 million in a locked token sale, with participation from over 40 companies, including Galaxy Digital and Morgan Creek Digital. The funds will support the upcoming Avalanche9000 upgrade, set to reduce layer-1 deployment costs by 99.9% and transaction costs on the C-Chain by 25 times, enhancing network usage across various sectors. AVAX is currently trading at $52.51, reflecting a 9.4% increase in the last 24 hours.
Avalanche has successfully raised $250 million in a token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital, with over 40 investment firms participating. This funding comes as the blockchain project prepares for the mainnet launch of its Avalanche9000 upgrade, aimed at significantly reducing transaction costs and enhancing scalability across various sectors, including asset tokenization and gaming. The initiative also includes a $40 million grant program to boost developer engagement on the platform.
Avalanche9000 has secured $250 million from major investors to enhance blockchain scalability and cost-efficiency, positioning Avalanche as a leader in innovation. Following this funding, AVAX's price surged to $52.07, reflecting growing market optimism and predictions of further gains as adoption increases. The mainnet launch is set for December 16, with a potential rise in AVAX's value toward $70 as institutional support grows.
Jason Urban
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avalanche raises 250 million for token sale ahead of major upgrade
United States Dollar
Dragonfly GF Co., Ltd
Parafi Capital LP
SkyBridge Technology Group, Inc.
Galaxy Digital Holdings Ltd.
Jason Urban
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22:00 13.12.2024
Avalanche secures 250 million in token sale ahead of blockchain upgrade
United States Dollar
Dragonfly GF Co., Ltd
Parafi Capital LP
SkyBridge Technology Group, Inc.
Galaxy Digital Holdings Ltd.
USA
Jason Urban
Ben Forman
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10:06 13.12.2024
Avalanche9000 secures 250 million boosting AVAX price and blockchain efficiency
09:39 13.12.2024
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