Avalanche Secures $250 Million in Funding Following Technology Upgrade
Finance/Tech

Avalanche Secures $250 Million in Funding Following Technology Upgrade

This funding comes soon after the Avalanche9000 upgrade was launched in a testnet environment, aiming to enhance transaction efficiency.

Key Highlights:

  • Avalanche has successfully raised $250 million in a token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital.
  • This funding comes directly after the Avalanche9000 upgrade, which was initiated in a testnet setup.

Avalanche, a Layer-1 blockchain focused on enhancing its technology platform, has garnered significant investment through a token sale totaling $250 million. Over 40 investment firms took part in this initiative.

The raised funds will support the project's Avalanche9000 upgrade, which aims to reduce deployment costs by 99%, making it easier for developers to create applications on the Avalanche platform.

According to DefiLlama data, Avalanche is currently the 10th largest blockchain by total value locked (TVL), currently standing at $1.6 billion.

More insights can be found in our previous report.

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