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One of the top gainers this week has been Avalanche (AVAX), gaining over 35% this week and over 13% today alone. With a market cap of $18b, Avalanche is a behemoth of a crypto. Let’s take a closer look at AVAX and see what all the hype is about.<\/strong><\/p>\n Avalanche is a platform for launching custom DeFi applications, tokens and even exchanges. AVAX is the native token to the Avalanche platform with a Proof-of-Stake consensus method.<\/p>\n According to their official website:<\/p>\n “Avalanche is an open, programmable smart contracts platform for decentralized applications.”<\/p>\n<\/blockquote>\n One of the big advantages of Avalanche is the eco friendly network. Because AVAX is a Proof-of-Stake coin there’s no need to waste energy for mining purposes.<\/p>\n Moreover, Ethereum developers can easily use the Avalanche platform to build Solidity compatible dApps. There’s a host of documentation available which makes it easy for anyone to create smart contracts on the platform.<\/p>\n One of the major reasons for AVAX’s dramatic price increase, is due to the Avalanche ecosystem that has been building on the platform.<\/p>\n 2) Avalanche was launched in September 2020 and is now seeing exponential ecosystem growth. A large number of DeFi and Web3 game projects call Avalanche home today and we expect many more in the coming years. https:\/\/t.co\/yxfYxQO7j0 pic.twitter.com\/2FZJ4yjDV9<\/p>\n — DeFi Alliance | Is Hiring \ud83c\udf0c (@defialliance) November 3, 2021<\/p>\n<\/p>\n DeFi Alliance tweeted a beautiful photo summarizing the Avalanche Ecosystem and the amount of apps that are available. With such an active ecosystem it comes as no surprise that Avalanche gained over 478% in the past 3 months.<\/p>\n In other news, Bloomberg\u00a0recently reported about Avalanche’s $220m fund called Blizzard, dedicated to accelerating the development of their ecosystem.<\/p>\n Setting aside such a large amount for incentivizing even more development on the Avalanche platform, is a sure way to get developers and traders excited.<\/p>\n Launched in September, 2020 Avalanche has over 300 applications on its platform which is already more than most cryptocurrencies have.<\/p>\n AVAX has proven itself to be a strong competitor in the crypto space earning it the top 13th place by market cap. I wouldn’t be surprised if Avalanche made it into the top 10 by the end of the year.<\/p>\nWhat Is Avalanche (AVAX)?<\/strong><\/h4>\n
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Why Is Avalanche Price Rising?<\/strong><\/h4>\n