Avalanche (AVAX) Pops 23% Today: It Raises $230 Million From Sale Of Surging Tokens

The foundation behind blockchain Avalanche said it received $230 million from a group led by Polychain and Three Arrows Capital through a private sale of its rapidly growing cryptocurrency AVAX. After that, today, Avalanche (AVAX) price is $64.88 with a 24-hour trading volume of $2,033,538,944. Avalanche cryptocurrency has jumped 23% in the last 24 hours. The current ranking is #12, with a total market cap of $14,129,204,790. Avalanche Foundation completed a private sale back in June 2021 and disclosing it today. Other participants include private sale R / Crypto Fund, Dragonfly, CMS Holdings, Collab + Currency, and Lvna Capital.
What Is Avalanche(AVAX)? - CoinXConverter BlogFurthermore, the proceeds from the private sale will support the Avalanche ecosystem, which is relatively rudimentary if we compare it, for example, with the Ethereum blockchain. The fund plans to support DeFi projects and corporate applications through grants, token purchases, and other forms of investment. The Avalanche Foundation positions its blockchain as a reliable alternative to Ethereum.

April Sanchez

Business and Tech Reporter