Avalanche broke records again when it gained nearly 30% in less than 24 hours, and while rallies like this are not uncommon, the AVAX rally is quite unique to the brand despite its ups and downs.
Avalanche was launched in September 2020 and has had a successful year so far. The fast smart contract platform offers transactions that complete in less than a second, so it has attracted a large number of developers and DApps.
1 / Ava Labs is pleased to partner with. to announce @Deloitte Company to build more efficient disaster relief platforms with the Avalanche blockchain.
These efforts combine the speed, resilience and adaptability of Avalanche with the Fortune 100 company knowledge of Deloitte. ️
– Emin Gün Sirer🔺 (@ el33th4xor) November 16, 2021
The 2021 IT rally culminated this week with a 30% increase despite broader market declines, while native cryptocurrency AVAX rose from $ 87 to $ 110 in less than a week. On the flip side, BTC fell below the USD 60,000 resistance. Fueled the rally was news of Avalanche’s new partnership with the platform, announcing a strategic alliance with Deloitte as one of the “Significant 4” accounting firms. According to the announcement, Deloitte will leverage Avalanche’s blockchain platform to launch a new recovery platform that will help state and local governments prove eligibility for state emergency funding.
This announcement is a cherry on the cake, however, as the past few months have been fairly stable and organic growth has been seen for the platform. Avalanche has seen the number of unique addresses increase by 284% since September. The growth in the number of users was followed by a significant increase in the number of daily transactions, which doubled by five times over the same period. Another big contributor to the AVAX rally is the newly announced fund. The $ 200 million Blizzard Foundation will support new use cases for the platform like token issuance, liquidity providers, and more. In addition to Ava Labs and Basis, Three Arrows Funds, Dragonfly Money and Polychain Capital also contributed to the fund.
Emin Gun Sirer, CEO of Ava Labs, confirmed that the platform has seen around 1 million transactions on its smart contract blockchain and that this surge in transaction volume has occurred in the past two months, adding that Avalanche is the most advanced right now public good is class 1.