AVAX jumped 10%! Avalanche received 250 million financing and a major upgrade is coming soon

The financing has achieved outstanding results, attracting over 40 investment institutions to participate

The Avalanche Foundation recently announced the completion of a $250 million private token sale, led by Galaxy Digital, Dragonfly and ParaFi Capital, attracting more than 40 investment institutions, including well-known companies such as SkyBridge and Morgan Creek Digital. This news not only injects strong financial support into the Avalanche ecosystem, but also inspires market enthusiasm, pushing the native token $AVAX up 10% after the announcement to reach $52 per coin.

Image source: Avalanche Avalanche Foundation announced the completion of a $250 million private token sale.

Avalanche Foundation co-founder Emin Gün Sirer stated that the main goal of this financing is not to raise funds, but to attract long-term potential partners and further expand ecological impact. Avalanche currently has sufficient funds, with its treasury holding about $30 billion worth of $AVAX tokens. The successful financing highlights the market's high expectations for the future potential of the ecosystem, and paves the way for its upcoming major technical upgrades.

Avalanche9000 upgrade is imminent, opening up new possibilities on the chain

Avalanche is about to launch a large-scale upgrade called "Avalanche9000" on December 16th. The technical innovation aims to significantly reduce the cost of blockchain deployment and transactions. According to the official statement, the deployment cost of Layer1 blockchain will be reduced by 99.9%, and the transaction fees of C-Chain will also be reduced by 25 times. Previously, running a node required payment of about 2,000 $AVAX (approximately $96,000 at current prices), but after the upgrade, it will adopt a subscription-like model, requiring only 1.33 $AVAX per month.

The technological upgrade of Avalanche will further realize its multi-chain vision and promote the application of blockchain in multiple industries such as gaming, payment, loyalty programs, and tokenization of real-world assets. Kevin Sekniqi, co-founder of Avalanche, emphasizes that the multi-chain model enables it to achieve horizontal scalability and effectively meet the diverse needs of the blockchain ecosystem. He confidently states that the future transaction volume of the Avalanche network will surpass the sum of other public chains such as Ethereum and Solana.

Image source: Kevin Sekniqi, co-founder of X Avalanche, stated that the future transaction volume of the Avalanche network will surpass the sum of Ethereum, Solana, and other public chains.

Financing and technology drive, expanding the ecological territory

This financing and technology upgrade also demonstrate Avalanche's strong determination to attract institutional investors and promote the development of Web3. For example, BlackRock's USD Institutional Digital Liquidity Fund and Franklin Templeton's OnChain U.S. Government Money Market Fund have chosen Avalanche as the tokenization infrastructure. In addition, Haseeb Qureshi, Managing Partner of Dragonfly, mentioned that Avalanche is paving the way for future large-scale institutional entry and will benefit from the gradual clarification of the market's adoption of cryptocurrencies.

The technological innovation and successful financing of Avalanche have not only enhanced its market position, but also expanded its influence globally. In the future, with the full implementation of Avalanche9000 upgrade, the ecosystem will become the preferred infrastructure for more decentralized applications, pushing the commercialization of blockchain technology to new heights.

[Disclaimer] The market is risky, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, viewpoints, or conclusions in this article are in line with their specific situation. Invest at your own risk.

The article titled 'AVAX Soars 10%! Avalanche Secures $250 Million Financing, Major Upgrade Coming Soon' was first published on 'Crypto City'.