2022-4-14 17:13 |
Avalanche AVAX/USD is a blockchain platform that is capable of smart contracts and aims to provide a scalable solution whilst also maintaining a high level of decentralization and security.
Ava Labs is the company that developed Avalanche and has historically received funding from Andreessen Horowitz, Initialized Capital, and Polychain Capital.
The $5.25 billion valuation as a catalyst for growthAva Labs is a startup that is raising $350 million.
At the $5.25 billion valuation, Ava Labs is at the upper levels of being one of the most valuable crypto companies on a global scale.
Avalanche is aiming to draw projects as well as applications away from the competitors such as Ethereum, with the promise of high speeds alongside low transaction fees.
Avalanche is known for offering “subnet” functionality, where application-specific blockchain can grow at scale.
Even though it is still unclear as to how Ava Labs will use the funds received, the cash injection will bootstrap the Avalanche ecosystem.
On April 8, we also covered how Avalanche added to the Terra UST reserve, and its price surged.
Should you buy Avalanche (AVAX)?On April 14, 2022, Avalanche (AVAX) had a value of $81.21.
When we take a look at how the token performed throughout the previous month, alongside the token’s all-time high value, we can get a better indication of what this value point represents.
Going over the token’s all-time high point of value, Avalanche (AVAX) had its ATH on November 21, 2021, at $144.96. Here we can see that at its ATH, the token was $63.75 higher in value or by 78%.
When we look at the performance of the token in March, Avalanche (AVAX) had its lowest point on March 14 at $66.12, while its highest point was on March 31 at $101.41.
This gives us an indication that the token increased in value by $35.29 or by 53%.
With this in mind, we can expect the AVAX token to reach $100 by the end of April, making it a solid token to buy.
The post AVAX price movement: what will the $5.25B valuation mean for the token? appeared first on Invezz.
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