Avalanche has successfully raised $250 million in a private token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital, ahead of its significant network upgrade, Avalanche9000, set to launch on December 16. The funds will bolster Avalanche's treasury, which already holds approximately $3 billion in AVAX tokens. The upgrade introduces major changes, including a new model for subnets and reduced validator costs, enhancing interchain communication capabilities.