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Cryptocurrencies started this week with a bullish note as Bitcoin hit another all-time high above $107,000, currently changing hands at $106,844.87.
BTC’s latest jump renewed optimism in the alt market as eyes shift to the Santa rally.
Amidst the enthusiasm, Avalanche (AVAX) released its highly-awaited Avalanche9000 upgrade on the mainnet yesterday.
Avalanche9000 is live on Mainnet 🔺 Built for everything. Build for everything. This is the start of…
According to the X post, Avalanche9000 is vital in onboarding many Layer1 platforms on the mainnet.
The new upgrade introduces various improvements that smoothen and reduce charges for launching subnets on the blockchain.
An Avalanche subnet is a collection of nodes that collaborate to validate transactions across one or more independent blockchains.
These subnets, which are customisable like other “blockchain-as-a-service” tools, allow for tailored solutions and unique tokenomics for specific use cases.
Avalanche’s largest upgrade reduces deployment cost by 99.9%
Avalanche, the layer1 platform that operates as a platform for custom blockchains and Dapps, introduced Avalanche9000 to enrich developer activity.
Among various functionalities, the new upgrade reduces the charges of deploying a Layer1 network by 99.9%.
Meanwhile, Avalanche’s upgrade is timely as the market is entering a phase where creators develop multiple Layer1 blockchains on testnet.
Thus, the AVAX project could witness an influx of Avalanche-linked launches.
Avalanche900 reduces the cost to deploy an L1 by 99.9%, and with hundreds of L1s being developed on testnet, look out for an explosion of launches in the coming months.
Termed as “the largest upgrade in network history,” Avalanche9000 connects each Layer1 with advanced Interchain Messaging.
The compatibility ensures smooth communication and asset transfers among all Avalanche L1s, promising collective success.
Also, the upgrade includes ACP-77, designed to transform how validators maneuver.
Moreover, the ACP-125 reduces the minimum gas fee on the primary “C-chain” network by 96%.
Validators can validate specific subnets without verifying the main chain. Eventually, this will reduce hardware requirements and operational costs.
The pre-existing approach required validators to stake over 2000 AVAX coins (worth around $100K at the token’s prevailing price) to validate the main blockchain.
Blockworks Research believes Avalanche9000 will increase transactions on the central hub by 50%.
Meanwhile, the altcoin has seen bullish development lately.
Avalanche dominated cryptocurrency VC funding after securing $250 million from investors.
AVALANCHE DOMINATES $250M CRYPTO FUNDRAISING FRENZY Avalanche’s flex with a massive $250M raise is seriously getting the industry’s attention. With investors like Galaxy Digital backing it, they’re all-in on scaling and DeFi dominance. And they’re not alone—Klickl’s $25M and…
The project completed the funding, led by ParaFi Capital, Galaxy, and DragonFly Capital, after an over-the-counter (OTC) sale.
The fundraising reveals Avalanche’s dedication to enriching its relationship with leading VC funds as it aims to switch from a layer2 chain and operate an independent layer1.
AVAX price performance
The native token trades at $49.04 after losing 1.90% over the past 24 hours. AVAX appears ready to extend last week’s 10% surge.
Source – CoinmarketcapAVAX is set for significant recoveries with optimistic ecosystem developments, with buyers targeting the $70 price.
The new Avalanche9000 upgrade underscores a crucial milestone for the AVAX ecosystem.
The improved features for deploying subnet platforms and significant cost reductions will boost Avalanche’s appeal to crypto projects and developers.
With Avalanche spearheading advanced blockchain solutions, AVAX remains poised for massive price movements in the materializing bullish wave.
Broad-based rallies could see AVAX flying towards $70 in the coming months. That would lead to a 43% surge from current prices.
Avalanche9000 upgrade underscores the project’s dedication to creating a lucrative environment for crypto undertakings.
Moreover, the latest VC funding confirms investor trust in Avalanche’s future performance.
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