23.09.202122:26 Forex Analysis & Reviews: Avalanche is up by 800% in two months

Avalanche (AVAX) is one of the most promising and attractive cryptocurrencies to invest in. Many successful new cryptocurrencies are constantly emerging in the crypto arena.

The Avalanche cryptocurrency (AVAX) is a prime example. The token traded around $9 in July but in this timeframe reached a new all-time high at nearly $80.

Avalanche (AVAX) and Solana are currently among the best cryptocurrencies to invest in.

Registering such massive price increases in a relatively short time has caught the attention of the crowd, with many keeping an eye on AVAX's performance. This could provoke a new upward movement. Avalanche has been highly active in terms of inking partnerships with other cryptocurrency projects in the past few months. Among the most significant ones could be the popular DeFi protocol Aave.

The vote will also be held to determine whether investors would like to see Aave's network deployed on the Avalanche blockchain. Should it be approved, this might lead to a further increase of the TVL on Avalanche as Aave assets on Ethereum could be transferred. According to Jay Kurahashi-Sofue, VP of Marketing of AvaLabs, this substantial increase has come despite the fact that only about $5 million in incentives has been deployed.

Also, the development group and chief executives said they had invested more than $200 million in the project. Some of the notable names that participated in the event included the cryptocurrency funds Polychain and Three Arrows Capital.

The fundraising was held to support and accelerate the rapid growth of decentralized finance (DeFi), enterprise applications, and other use cases on the Avalanche public blockchain. Support for projects will include grants, token purchases, and various forms of investments and technology support.

Although the fundraising event took place in July, Avalanche announced it just recently, and it actually preceded the native token's surge to the all-time high territory at $80.