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“Avalanche” records a decline of more than 30% during April, and its market value falls to less than 16 billion dollars

“Avalanche” records a decline of more than 30% during April, and its market value falls to less than 16 billion dollars

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Answer “Avalanche” records a decline of more than 30% during April, and its market value falls to less than 16 billion dollars

The “Avalanche” coin recorded a significant decline of more than 30% during the current April and its market value fell to below $18.4 billion, but despite its decline, “Avalanche” remains the number one competitor to decentralized applications for its ability to scale and use low-cost transactions.

While the price of the “AVAX” coin has fallen significantly, investors are still very optimistic about it, driven by the positive news that occurred during this April, represented by the large financing deal raised by the developers.

According to a report by Bloomberg on April 15, Ava Labs, the main developer of Avalanche, raised $350 million from investors, and the deal raised the company’s value by $5.25 billion.

Read:Digital currencies enter the world of central banks to replace cash

The competition with “Ethereum” and “Solana”

Avalanche seeks to rival Ethereum and Solana, by offering fast and low-fee transactions for applications ranging from trading and lending to gaming.

But the price of Avalanche is still down 53% from its high of $147, bringing its market value down to $18.4 billion.

Founded in 2018, Ava Lab raised $6 million in funding in 2019 from investors including Andreessen Horowitz and Polychain.

Big downturn in the cryptocurrency market

The 200 largest digital currencies by market value were subjected to a wave of sharp declines, from which only a very limited number of currencies survived, in addition to the stable currencies with limited movement due to its link to the dollar.

Bitcoin bounced back below the $40,000 levels during trading today, Saturday, down to levels near $38,000, down by 4%.

Read:US Senator implicated in crypto fraud

Read also:

One of the first investors in Bitcoin declared: Dogecoin is noticeably better than Bitcoin!

The former CEO of “Google” is betting on the future of Web 3.0 and reveals his possession of some digital currencies


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