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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.

Republic Crypto is launching R/Note, a tokenized security whose owners get payouts from the company's venture exits. It will live atop the Avalanche blockchain.

Republic's Profit-Sharing Token on Avalanche Will Pay Investors VC Dividends

The latest price moves in bitcoin [BTC] and crypto markets in context for Nov. 17, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Avalanche and Near Lead Weekly Gains

Bitcoin

Ethereum

AVAX is up 8% in the last 24 hours, while bitcoin is trading below $36,500.

AVAX, NEAR Beat Ether and Bitcoin as Wall of Red Continues in Asia

A popular crypto analyst is predicting that one red-hot Ethereum (ETH) competitor has more room to run as altcoins come alive. Pseudonymous trader Altcoin Sherpa tells his 197,900 followers on the social media platform X that Avalanche (AVAX) could soar more than 30% from its current value. “AVAX: huge moves [November 15th].

Trader Predicts Ethereum Rival That's Surged Over 150% in a Month Will ‘Keep Going', Updates Outlook on Bitcoin

Avalanche, Dogecoin, and Cardano have all made gains on Thursday, while BTC and ETH have slowed down their respective rallies.

Avalanche Pumps 14% After JP Morgan Adoption, Bitcoin's ORDI Pops 16%

J.P. Morgan and Apollo Global's blockchain platform, Onyx, have announced a proof-of-concept in partnership with Avalanche as part of the Monetary Authority of Singapore's Project Guardian.

JPMorgan and Apollo Global Unveil Blockchain Asset Management Proof-of-Concept with Avalanche

Solana

Ethereum's native cryptocurrency, Ether (CRYPTO: ETH), has made a promising leap in the past 24 hours. What Happened: After a stumble that nearly brought the world's largest crypto down to $1,900, Ether has surged by more than 3% in the last 24 hours, reclaiming its stance above the $2,000 threshold and hovering close to $2,060.

Avalanche Or Solana, Which Of These Ethereum Killers Has Given Superior Returns This Year

J.P.Morgan Chase & Co.'s (NYSE: JPM) Onyx and Apollo Global have teamed up to launch a proof-of-concept (PoC) with Avalanche (CRYPTO: AVAX) under the Monetary Authority of Singapore's Project Guardian, as reported on its blog.

AVAX Zooms Higher After J.P.Morgan's Onyx Teases Avalanche For Tokenized Funds

JP Morgan's Onyx is using an Avalanche subnet to connect portfolios to tokenized assets offered by WisdomTree.

JP Morgan's Onyx Taps Avalanche for Tokenized Funds, AVAX Jumps 14%

Chainlink

A fake BlackRock XRP Trust filing roiled the crypto market during U.S. afternoon hours, weighing on altcoins as the crypto rally cooled.

Solana, Avalanche, Chainlink Tumble 8%-12% as Crypto Rally Cools Amid Fake BlackRock XRP Trust Filing

Ava Labs, the company behind the popular blockchain platform Avalanche (CRYPTO: AVAX), has announced a reorganization that resulted in a 12% reduction of its workforce. This move, detailed by Emin Gün Sirer, the founder and CEO of Ava Labs, is part of a broader strategy to harness the company's agility and increase its focus on expansion during a turbulent market period.

Ava Labs, Creator Of Avalanche Blockchain, Cuts Workforce In Strategic Refocus

According to several sources within the company, crypto startup Ava Labs, known for supporting the Avalanche blockchain network, has laid off a considerable number of staff.

Ava Labs Confirms Layoffs, 12% of Staff Affected

The staff cuts allow the Avalanche blockchain developer to "reallocate resources to double down on growth," its founder Emin Gün Sirer said.

Ava Labs lays off 12% of staff to ‘reallocate resources,' CEO says

The Ava Labs cuts, which occurred Monday, have reportedly impacted numerous teams including communications and marketing.

Ava Labs Employees Report Layoffs, 'Many People' Affected

A popular cryptocurrency analyst is expressing a bullish outlook toward two of Ethereum's (ETH) biggest competitors. Pseudonymous crypto trader Altcoin Sherpa tells his 197,500 followers on the social media platform X that Solana (SOL) and Avalanche (AVAX) are both setting the stage for another leg up.

Crypto Strategist Says He's Bullish on Ethereum Rivals Solana and Avalanche – Here Are His Targets

Aptos will see the largest token unlock by value at around $173 million, while Hashflow will see its circulating supply increase nearly 74%.

Aptos and Avalanche dominate among $450 million in November token unlocks

The Astra Upgrade for Avalanche subnets should improve the independent operation of application-specific chains in the ecosystem.

Ava Labs proposes Astra upgrade to bolster subnet architecture on Avalanche

SnowTrace, a popular blockchain explorer tool for Avalanche (AVAX), has announced that its Etherscan-powered website will be shut down on November 30.

Avalanche Blockchain Explorer SnowTrace To Shut Down Etherscan-Powered Website

The loss of the team member Kook comes one day after the platform's CEO, who goes by Chill Pill, stepped down.

SocialFi platform Stars Arena loses another team member after CEO steps down

The move also integrates wstETH into LayerZero's omnichain fungible token (OFT) standard for easier cross-chain swaps.

LayerZero introduces omnichain token to move Lido's wstETH across Avalanche, BNB Chain and Scroll

The president of the Avalanche (AVAX) development firm Ava Labs is issuing his crypto predictions for 2024. In the interview with CNBC, Ava Labs president John Wu talks up the Friend.tech challenger Stars Arena, a decentralized social finance application (SocialFi) that launched on the AVAX blockchain in late September.

Ava Labs President John Wu Makes 2024 Crypto Predictions, Says Big Developments Coming for Avalanche Ecosystem

Polygon

Ava Labs, the main developer of the Avalanche blockchain, has poached two Polygon and OKX employees as it looks to grow in India.

Ava Labs bets on India for Avalanche growth, with new hires from Polygon and OKX

Avalanche-based web3 social media app relaunched Sunday, but with a pause on trading functionality, according to a Stars Arena post.

Stars Arena has relaunched but with a pause on trading functionality

Recent predictions from a prominent crypto analyst suggest that Bitcoin (CRYPTO: BTC) is poised for a significant rally, with Chainlink and Avalanche also showing bullish signs. What Happened: Bitcoin, the premier digital currency, is currently hovering around $26,888 at the time of writing.

Crypto Analyst Predicts Bitcoin's Imminent Surge, Foresees 150% Jump And Bullish Trends For Chainlink, Avalanche

A closely followed crypto strategist says that it is only a matter of time before Bitcoin (BTC) revisits its all-time high (ATH). Pseudonymous analyst Altcoin Sherpa tells his 196,700 followers on the social media platform X that BTC will eventually soar and work its way back up its all-time high at around $69,000.

News for Avalanche Crypto (AVAX)