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Avalanche

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

The Avalanche protocol was released by an anonymous group called Team Rocket in May of 2018. It was then developed by a group of Cornell researchers led by Emin Gun Sirer, who is now the founder and CEO of Ava Labs. 

The Avalanche Mainnet was launched in September 2020, when it also issued its native $AVAX token. 

Avalanche is an open, programmable smart contracts platform built to enable the launch of decentralized applications that are scalable and secure. 

Avalanche is designed with an emphasis on interoperability, meaning its infrastructure could be utilized by a multitude of blockchains that use $AVAX as the underlying token. 

$AVAX has a capped supply of 720 million tokens. The rate at which the maximum cap is reached is subject to governance of token holders. 360 million tokens were supplied at the genesis block, while the remaining 360 million are minted over time. 

Avalanche has gained traction with decentralized finance applications due to its high speeds and low costs. Total value locked (TVL) on the Avalanche ecosystem exceeds $13 billion as of Nov. 2021. It crossed $1 billion for the first time in late August 2021.


Avalanche's top DeFi protocols by TVL are Aave and Trader Joe. TVL represents the amount of assets being staked on a certain protocol.

Ethereum

Circle Protocol has announced the implementation of stablecoin transfers between Ethereum and Avalanche networks, enhancing liquidity and interoperability in the DeFi ecosystem.

Circle Protocol Enables Stablecoin Transfers Between Ethereum and Avalanche

The Cross-Chain Transfer Protocol allows USDC transfers between Ethereum and Avalance.

Circle activates protocol for stablecoin transfers between Ethereum and Avalanche

Cortina upgraded to latest version of Avalanche Go v1.10.0, bringing changes to help optimize the network for developers.

Avalanche core team implements Cortina upgrade on mainnet

At the Game Developer's Conference in San Francisco, Ava Labs' Head of Gaming Ed Chang spoke with Decrypt's Kate Irwin about Ava Labs' approach to Web3 gaming, building games on Avalanche, and gave his thoughts on what the coming months and years will look like for the ecosystem.

Ava Labs' Ed Chang on the Future of Web3 Gaming

Emin Gun Sirer, who also weighed in on zero-knowledge proofs (ZKPs), was addressing the annual Cornell Blockchain conference on New York City's Roosevelt Island.

Ava Labs CEO Calls for Crypto Regulators Who Can Read and Audit Code

Merit Circle announced a new development from its decentralized autonomous organization: Beam, a gaming-focused Avalanche subnet.

Beam aims to become the new blockchain gaming hub on Avalanche

Bitcoin

Litecoin

Cosmos

Chainlink

A widely followed analyst believes that the crypto markets at large have more room to run to the upside before witnessing a significant retracement.

Crypto Analyst Unveils Big Price Targets for Bitcoin, Ethereum, Litecoin and Three Additional Altcoins

Dogecoin

Dogecoin rose by over 6% to start the week, as prices moved back towards a key resistance level. The meme coin moved higher for a fifth straight session, despite the cryptocurrency market falling by 1.54% as of writing. Avalanche also climbed, hitting a two-month high.

Biggest Movers: DOGE Jumps 6%, AVAX Hits 2-Month High on Monday

Solana

Ethereum (CRYPTO: ETH) rival Solana (CRYPTO: SOL) and Avalanche (CRYPTO: AVAX) are up 3.8% and 6.7%, respectively, in the last 24 hours, even apex crypto Bitcoin (CRYPTO: BTC) and ETH weakened. What Happened: Solana surged by 22.63% over the week and was last trading at $25.22.

These 2 Ethereum Rivals Are Spiking Today Even As Bitcoin Slips

Ava Labs president John Wu is saying that there's renewed optimism and energy in the crypto ecosystem as the markets witness rising prices.

Ava Labs President John Wu Says One Catalyst Has Reinvigorated Bitcoin and Other Crypto Assets Amid Market Uptick

The spike in daily active addresses coincided with a bevy of financial institutions joining Avalanche's Evergreen subnet “Spruce.”

Avalanche Surges to 6-Month High in Daily Active Addresses

Binance Futures will close all positions for its USDⓈ-margined perpetual contracts for native assets of STEPN, Near Protocol and Avalanche.

Binance Futures delisting STEPN, Near and Avalanche perps

Avalanche (AVAX) is unveiling a new suite of subnets specifically designed for financial institutions just as the layer-1 blockchain's Cortina upgrade goes live on the testnet.

Ethereum (ETH) Competitor Launches Institutional-Focused ‘Subnets', Rolls Out New Upgrade on Testnet

The change improves support for exchanges and may bring faster development, Avalanche says.

Avalanche's Cortina Upgrade Goes Live on Protocol's Testnet; AVAX Token Rallies

The protocol said the subnet will be a suite of institutional blockchain deployments and tooling specifically designed for financial services.

Avalanche's New Subnet to Offer Blockchain Customization for Financial Institutions

Xrp rose for a second consecutive session on Wednesday, as the token continued to move away from a recent price floor. Since hitting an eleven-month high a week ago, the token has mostly consolidated. Avalanche was also in the green, as prices hit a one-week high.

Biggest Movers: XRP Rebounds on Tuesday, as AVAX Hits 1-Week High

Earlier this year, in January, Mark Yusko, CIO at Morgan Creek Capital, said that Avalanche (CRYPTO: AVAX) had the potential to outperform the entire cryptocurrency market, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). What Happened: In a YouTube video, Yusko had said that AVAX could rally by 50 times in the next bull cycle, provided that Bitcoin and major coins remain successful.

As 2023 Began, Morgan Creek's Yusko Said This Crypto Could Rally 50x, Outperforming Bitcoin And Ethereum — What You Need To Know

Fantom

A closely followed crypto analyst is updating his stance on Bitcoin (BTC) and two of Ethereum's (ETH) biggest rivals. The pseudonymous trader Altcoin Sherpa tells his 194,000 Twitter followers that Bitcoin is likely setting up for a pullback and that the $25,000 level probably won't hold.

Crypto Analyst Updates Outlook on Bitcoin, Avalanche and One Ethereum Rival That's Soared 135% This Year

Polygon

Crypto analytics firm Nansen says that more than $850 million worth of several crypto assets flowed out of Binance after a US federal agency accused the exchange of regulatory violations.

$852,000,000 in Ethereum, Polygon, Fantom and Additional Altcoins Have Left Binance Following CFTC Lawsuit: Nansen

The C-and X-chains of Ethereum (ETH) challenger Avalanche (AVAX) briefly went down as the network upgraded to a new software version. The X-chain, the exchange chain of the blockchain used to transfer funds, slowed down and processed only a few transactions leaving it virtually unusable.

Ethereum (ETH) Competitor Avalanche (AVAX) Suffers Brief Network Outage Amid Upgrade

On-chain data shows that transactions sent over X-Chain are lagging, while C-chain has recovered from an earlier outage.

Avalanche Blockchain's X and C Networks See Brief Outage

Enclave Markets CEO on why OTC traders benefit from maintaining confidentiality via Enclave's encrypted exchange.

This Avalanche backed project is creating a fully encrypted exchange

Ava Labs president John Wu is warning that the crypto industry will be adversely affected by the elimination of onramps into the crypto ecosystem.

Here's What To Expect for Crypto As Silvergate Bank Collapses, According to Ava Labs President John Wu

BlockFi, Circle, Avalanche, Yuga Labs, and Proof are among the crypto names that had exposure to now-shuttered Silicon Valley Bank.

Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche

DEFYCA's launch highlights the growing trend of bringing tokenized versions of traditional markets like debt to blockchains.

News for Avalanche Crypto (AVAX)