Brooklyn based blockchain focused on speed and low transaction costs raised $230m in new funding led by Polychain and Three Arrows Capital.
Avalanche and its underlying token AVAX is currently the 14th cryptocurrency by total market capitalization according to CoinMarketCap. With a current market cap of $13 billion, Avalanche is ahead of Algorand or Polygon, but behind Polkadot and Solana. Solana also suffered from a major outage earlier this week, raising questions about Solana’s ability to scale. It’s going to be interesting to see whether one of these blockchains can catch up with Ethereum or even surpass Ethereum in usage and value.