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Avalanche

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

The Avalanche protocol was released by an anonymous group called Team Rocket in May of 2018. It was then developed by a group of Cornell researchers led by Emin Gun Sirer, who is now the founder and CEO of Ava Labs. 

The Avalanche Mainnet was launched in September 2020, when it also issued its native $AVAX token. 

Avalanche is an open, programmable smart contracts platform built to enable the launch of decentralized applications that are scalable and secure. 

Avalanche is designed with an emphasis on interoperability, meaning its infrastructure could be utilized by a multitude of blockchains that use $AVAX as the underlying token. 

$AVAX has a capped supply of 720 million tokens. The rate at which the maximum cap is reached is subject to governance of token holders. 360 million tokens were supplied at the genesis block, while the remaining 360 million are minted over time. 

Avalanche has gained traction with decentralized finance applications due to its high speeds and low costs. Total value locked (TVL) on the Avalanche ecosystem exceeds $13 billion as of Nov. 2021. It crossed $1 billion for the first time in late August 2021.


Avalanche's top DeFi protocols by TVL are Aave and Trader Joe. TVL represents the amount of assets being staked on a certain protocol.

Social protocol Stars Arena paid a bounty to recover 90% of funds that were taken during a security exploit last week.

Hacker returns 90% of stolen funds to Stars Arena following exploit

Platypus Finance, a DeFi protocol operating on the Avalanche network, fell victim to a security hack earlier today.

Platypus Finance suffers more than $2 million exploit on Avalanche: PeckShield

The social app on Avalanche was drained for $3 Million last week.

Stars Arena Exploiter: ‘I want to Cooperate'

Investment giant VanEck is weighing in on Ethereum (ETH) rival Avalanche (AVAX), warning that the project faces numerous serious headwinds. In a new report on the digital asset markets, VanEck analysts say that on-chain activity on Avalanche's C-Chain has collapsed to critical levels.

$77,800,000,000 Asset Manager Warns Future Is Uncertain for Avalanche, Says AVAX Facing Multiple Headwinds

Social protocol Stars Arena suffered a "major security breach" through which hackers stole 266,103 Avalanche (AVAX) worth $2.85 million.

Avalanche Social Protocol Stars Arena Drained of Nearly $3M

Stars Arena, an on-chain social app built on the Avalanche blockchain, suffered a $2.9 million hack Saturday, when hackers took advantage of a vulnerability in its smart contract, draining funds.

Social On-Chain App Stars Arena Suffers $2.9 Million Hack; Team Secures Funds to ‘Close the Gap'

A social finance (SocialFi) platform built on Avalanche (AVAX) has suffered losses after bad actors targeted a smart contract vulnerability. Stars Arena allows content creators to monetize their expertise by selling tickets or shares to their followers using AVAX tokens to facilitate the sale.

Avalanche (AVAX)-Based Social Finance Platform Suffers $2,900,000 Exploit: Peckshield

Solana

A closely followed crypto strategist is predicting Avalanche (AVAX) will undergo a massive surge due to one main reason. Pseudonymous crypto analyst Altcoin Sherpa tells his 196,600 followers on the social media platform X that the Ethereum (ETH) rival could increase by more than 12% from its current value.

Assignment Crypto Trader Says Avalanche (AVAX) To Surge by Double Digits, Updates Outlook on Solana (SOL)

The newest viral application launched nearly a week ago and quickly gained a cult following.

Avalanche Social App Stars Arena Drained of $3M in AVAX After Hack

Avalanche-based social token app Stars Arena has been exploited and its smart contract drained of all of its funds.

Stars Arena drained of $2.9 million in AVAX tokens, funds in user wallets are safe

Despite a now patched exploit that attempted to drain funds, Stars Arena continues to draw users to its platform.

Avalanche Pumps as Friend.tech Fork Stars Arena Catches Fire

Avalanche rose to a six-week high on Friday, after the token climbed above a key resistance level. The move saw price rise by as much as 7%, despite the global crypto market cap mostly in the red in today's session. Toncoin remained higher, following recent gains.

Biggest Movers: AVAX 7% Higher, TON Maintains Bullish Momentum on Friday

The social finance platforms industry is still in its early stages of seeing significant growth and rapid performance from a single app with a significant impact on usage statistics. Social finance platforms include Stars Arena, Friend.tech, Alpha on the Bitcoin network, Friendzy on Solana and PostTech on Arbitrum.

Avalanche Sees Performance Reversal Led By Striking Stars Arena Performance

Startup Blockticity aims to solve the fraud plaguing the certification industry by using NFTs to prove authenticity across the supply chain.

Magic mushrooms, hemp and kratom can now be certified with Avalanche blockchain

The process works by Blockticity printing a QR code on a product and the QR code then links to a Certificate of Analysis minted as an Avalanche NFT.

Blockticity Mints Hemp and Cannabis Certifications on Avalanche

Bitcoin

Ether fell 0.5%, Solana's SOL fell 1.4%, while Cardano's ADA and BNB Chain's BNB traded flat.

Bitcoin Holds Steady at $27.6K; Why Are XRP, AVAX Prices Pumping?

As Stars Arena thrives, the AVAX token rides the wave, while some users remain skeptical.

Social Protocol Stars Arena Takes on Friend.Tech While Boosting AVAX

Bitcoin edged higher to $27,700 Wednesday afternoon as crypto markets calmed after Monday's sharp rally. XRP and AVAX jumped 3% and 7%, respectively.

Bitcoin Edges Higher to $27.7K; AVAX, XRP Jump as Crypto Market Settles

SocialFi app Stars Arena has helped boost Avalanche C-chain network transactions. It leads in daily active users on the Avalanche network.

FriendTech rival Stars Arena fuels Avalanche transaction surge

SK Planet's loyalty app OK Cashbag is integrating Avalanche NFTs for live events like K-pop concerts, musicals, and more.

South Korea's Dreamus Debuts Avalanche NFT Tickets for Events, K-Pop Concerts

Sestagalli's previous Avalanche projects created a cult-like following in the 2021 bull run under the “frog nation” moniker.

Avalanche Developer, Known for Minting Millionaires and Duds, Is Back With ‘WAGMI' Tokens

Decentralized exchanges usually let users swap one asset for another, but a new tool claims to let users swap 300 tokens at the same time.

New Avalanche Dapp Lets Traders Swap Hundreds of Different Tokens in Single Transaction

Fantom

Chainlink

A popular crypto trader is updating his outlook on Chainlink (LINK) as the digital asset continues to chop around. Pseudonymous trader Altcoin Sherpa tells his 196,200 followers on the social media platform X that blockchain oracle Chainlink is likely going to take months before breaking out of a persistent trading range.

Analyst Updates Outlook on Chainlink, Avalanche, Fantom and One Altcoin That's Exploded Over 700% in Matter of Weeks

Intella X, Neowiz's Web3 arm, has joined Avalanche Arcad3 to build blockchain games in the crazed market.

Publicly Traded Korean Firm Neowiz To Build Games on Avalanche Network

Cardano

Polygon

A leading blockchain analytics firm says that a huge percentage of Cardano (ADA) and Polygon (MATIC) holders are underwater. According to IntoTheBlock, 94% of the holders of Ethereum (ETH) competitor Cardano are sitting on losses, just 5% are profitable and 1% are breaking even. Cardano is trading for $0.25 at time of writing, down 91.

News for Avalanche Crypto (AVAX)