BlocksInform
Avalanche (avax) seems to reap the fruits of recent partnerships its closed network with amazon and intain finance platform.
In fact, despite sharp price declines with the remainder of the wider crypto market in the last quarter of the previous year, altcoin has succeeded in distinguishing itself as one of the best performers this week.
At the time of writing, according to tracking from Coingecko, AVAX is changing hands at $21.81 and has gone up by more than 13% over the last 24 hours.
Every week and every couple of weeks, crypto posted gains of 22.2 per cent and 38.2 per cent, respectively, while the value of digital assets has grown significantly in the past 30 days, 96% more.
Avalanche Records Massive Jump In Daily Transactions Count
This impressive rally that AVAX is currently enjoying seems to have rubbed off in other aspects of its ecosystem, as evidenced by the 85% increase in the average daily transactions its native blockchain processes which now peaks at 288,120.
In addition, prior to leaving 2022, the Smart Deal Network registered a daily average of active addresses of 48,023, up 3.2% from Q3 of last year.
The first institutional Subnet is here!
.@IntainFT, a structured finance platform that facilitates administration of $5.5B in assets, is launching IntainMARKETS, an on-chain marketplace for tokenized asset-backed securities.
Let’s take a look at why Intain #ChoseAvalanche /?? pic.twitter.com/yFGqLIasD1
— Avalanche ?? (@avalancheavax) January 31, 2023
Moreover, after recording only 18 transactions per second between July and September 2022, Avalanche recorded 33 STP in the following quarter, almost double its previous result.
It is important to note that these developments have occurred in spite of the larger cryptocurrency market being hit by the negative impacts of such events as the crypto ftx trading company's collapse and the long crypto winter, just to mention a couple.
Avalanche is headed for corporate adoption.
Recall that Amazon Web Services (AWS) recently needed a platform where executing and managing smart deals could be made easier for property transfers as well as on-line market data for financial transactions.
With Ethereum being the leader in smart contracts, analysts and experts were surprised when Amazon made the decision to pick Avalanche, sparking hopes of greater and better institutional adoption for the blockchain and its native crypto AVAX.
The blockchain seems to be playing all the right cards with regards to this as it announced on January 31, 2023 that it will be partnering with Intain – a structured finance platform responsible for the administration of more than $5 billion worth of assets. With this, Intain becomes Avalanche’s first institutional subnet.
Avax undeniably reacts positively to these developments as she continues to paint her graphics in green, registering massive increases in its value in recent days.
Spotlight on Saanich News.
