Avalanche’s token AVAX touched an all-time high of $146 on Sunday, according to data from CoinGecko. Its value has increased by more than 20 percent in a single day. It has increased by about 47 per cent in seven days and by 83 per cent in two weeks. The value of AVAX has grown by more than 133 percent in the last three months. Over 350 projects have been built on this blockchain and many more are on the way. This could give a tough competition to Ethereum’s dominance as a leading smart contracts platform. In addition, Avalanche is faster and less costly than Ethereum.
The partnership with Deloitte is also an indication of the importance given to it over Ethereum. Deloitte has said on this partnership that it aims to make reimbursement easier for victims of natural disasters. “The security of the Avalanche network and its ability to rapidly collect, process and authenticate documents reduces the risk of deficiencies in disaster claims made to the government,” said Emin Gün Sirer, founder, Avalanche Labs. He added that Avalanche’s feature of being a carbon neutral platform is in line with Deloitte’s goal of being eco-friendly.
Earlier this month backers of the Avalanche network launched a new fund called Blizzard. It has received initial funding of $220 million from other investors including Three Arrows Capital. Three Arrows Capital also funded Ethereum but later switched to Avalanche due to higher fees.<!–
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