CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$20,781.00
  • ethereum
    ETH$1,187.73
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » AVAX Hits New All-Time High as Avalanche Discloses $230M Private Sale

    AVAX Hits New All-Time High as Avalanche Discloses $230M Private Sale

    Author: Jose Oramas

    Last Updated Sep 17, 2021 @ 07:08

    The AVAX token has reached a new ATH following the disclosure of a $230M investment round by several crypto funds and angel investors.

    The AVAX token has reached a new all-time high after the Avalanche blockchain raised a $230 million investment round led by crypto funds Polychain and Three Arrows Capital. The asset is up by 650% in less than two months.

    AVAX Surges to a Fresh ATH

    The AVAX token is hot now more than ever, trading at $64 at the time of writing and with a 24-hour trading volume of over $2 million. Even more, it skyrocketed to above $68 hours ago to tap a new all-time high, according to CoinGecko.

    AVAXUSD. Source: TradingView
    AVAXUSD. Source: TradingView

    On a more macro scale, looking from July 20th, the asset has surged by roughly 650% after it had dipped to $9 during that day. The most recent gains came shortly after Avalanche announced the private sale, which was made in June but disclosed today.

    The group is conformed by angel investors, family offices, and crypto funds, including Dragonfly, CMS Holdings, Collab+Currency, and Lvna Capital.

    📢 BIG News 📢@Polychaincap and Three Arrows Capital led a $230M investment in the #Avalanche ecosystem to support growth of the platform.https://t.co/T141NFEoIG

    — Avalanche 🔺 (@avalancheavax) September 16, 2021

    ADVERTISEMENT

    As per the blog post, the Avalanche team will use the funds to “support and accelerate the rapid growth of DeFi, enterprise applications, and other use cases on the Avalanche public blockchain.” Avalanche will support projects by including grants, token purchases, and other investments and technology support.

    Avalanche Gaining Ground in the DeFi Space

    The AVAX token has been up 65% in the past week, outperforming its top 20 competitors in the market. Avalanche, like Solana, is an alternative blockchain in the DeFi space focusing on delivering a high throughput with low gas fees – two problems that PoW (Proof of Work) blockchains like Ethereum have been facing since their creations.

    Like Ethereum, Avalanche supports smart contracts, staking, yield farming, users can run dApps (decentralized applications), and more for a lower price. With over 270 projects building on the platform, Avalanche is now one the fastest organic growing blockchains in the market. Some of those projects include Tether, SushiSwap, Chainlink, and more. 

    Avalanche has quickly turned promise and potential into real-world impact and value creation for DeFi users and developers. The community of builders rallying around the network is a testament to its competitive edge, and there is still so much potential yet to be tapped at the intersection of institutional and decentralized finance on Avalanche.” Said Emin Gün Sirer, director of Avalanche Foundation.

    On August 30, OpenOcean – a DeFi and CeFi aggregator – integrated Avalanche to enhance liquidity, as per a Monday press release shared with CryptoPotato.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • AvaOpen
      DeFi and CeFi Aggregator OpenOcean Integrates Avalanche to Enhance Liquidity
    • AVABenqi
      AVAX Is Up 150% in a Week as Over $1B TVL Locked on BENQI
    • hack_cover
      THORChain Hacked for a Second Time: $8 Million Compromised
    Tags: Avalanche
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jose Oramas
    More posts by this author

    Jose Oramas is a blockchain and crypto journalist with keen interest in the DeFi space. Contact

  • bitcoin
    BTC$20,781.00
  • ethereum
    ETH$1,187.73
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Binance Visa Card Guide: Read Before You Order

    Binance Visa Card Guide: Read Before You Order

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!