The cryptocurrency market has started to turn green again after the decline it has experienced in recent weeks, and Avalanche (AVAX), which attracts attention for its high speed, also participated in this increase.
The AVAX project, led by Emin Gün Sirer, proved it received community approval with new funding and broke the all-time record.
Great investment in AVAX
In the announcement made on September 16, it was stated that $ 230 million was transferred to the AVAX ecosystem in funds led by two leading investment funds, Polychain and Three Arrows Capital.
The funding of $ 230 million will be used directly for the development of the Avalanche blockchain ecosystem. In addition to the two giant funds, it is claimed that CMS Holdings, Collab + Currency, Lvna Capital and the industry’s leading angel investors also participated in the funding round. In this way, the price broke the historical record.
AVAX, which entered the market as a competitor to Ethereum and was actively involved in the sector in September 2020, has hosted more than 270 projects since then. Major projects like SushiSwap, Tether, Chainlink, Circle, and The Graph have also joined the network, and with the latest funding, AVAX can be said to have received acceptance from the community.
Three Arrows Capital Chairman Kyle Davies said in a statement on the subject that Avalanche is a suitable project for the market and attracts DeFi users.
Not surprisingly, AVAX has come to the fore in the days when it takes an average of $ 26 to transact on the Ethereum network in the last 5 days.