Avalanche (AVAX) is a new cryptocurrency that is catching investor attention, with market caps that surpassed Dogecoin and Shiba Inu, two virtual assets that have surged four digits in recent months to enter the top 10. table.
The token price is up 3.53% in the last 24 hours after last week’s positive trend (43.67%) to $ 142.33, according to Coin Market Cap.
Avalanche is currently ranked 10th by market cap in the crypto market ($ 31,769,501,799) after a 6.31% gain, followed by Dogecoin ($ 29,484,937,470) and Shiba Inu ($ 23,920,132,906) ).
These results come a week after the founder of Ava Labs, the company behind the crypto asset, announced a partnership with consultant Deloitte to create a FEMA financial platform based on the company’s blockchain technology.
For analysts contacted by Bloomberg, this move in the crypto asset market is a clear sign that investors believe there are platforms more or less secure than Ethereum and that they are cheaper.
“This is another example of blockchain technology that surpasses Ethereum in speed and cost. This competition benefits the market, ”explained FTX’s Jonathan Cheeseman.
The price of Avalanche is up 3,000% since last year. In September, the company that owns the token received $ 230 million from the sale of the cryptocurrency to institutional buyers.
