Ava Labs reaches a $5.25 billion valuation after the $350 million raise

    Ava Labs, the lead developer of Avalanche (AVAX), is raising a new round of funding for $350 million at a market valuation of $5.25 billion, Bloomberg reported. The raise comes as the total value locked (TVL) on the Avalanche blockchain remains steady at around $14.6 billion. Bloomberg reported the new fundraising on Thursday, citing people…

    Terra buys $200 million in Avalanche tokens to build UST reserves

    The Luna Foundation Guard, a Singapore-based nonprofit building reserves for the stablecoin Terra (UST), announced that it would buy $200 million worth of AVAX tokens from the Avalanche Foundation to augment its UST reserves. This strategic move pushes forward Terra’s cross-chain development and diversification. The Luna Foundation Guard (LFG) and Terraform Labs (TFL), the two…

    Avalanche Foundation announces a $290 million incentive for the ‘Multiverse’ program

    The Avalanche Foundation has launched a $290 million incentive program called Multiverse to promote its new “Subnet” functionality. The Subnets’ intended utility is to encourage the development of a vibrant ecosystem of “scalable app-specific blockchains.” The foundation wants Web3 builders to develop subnetworks using its technology. The Avalanche Foundation has established a $290 million fund…

    Crypto strategist sees Polkadot and Avalanche as the most interesting crypto assets

    Jason Pizzino, the crypto strategist and trader, said he’s keeping a close watch on Polkadot (DOT), Avalanche (AVAX), and two more altcoins as the crypto markets continue to flash signs of strength. In a new analytic video for his 200,000 YouTube subscribers, Pizzino said he expects interoperable blockchain Polkadot to continue surging to around $50…