The price of the altcoin Avalanche has surpassed $110 for the first time ever. The crypto's capitalization has increased to $23 billion, according to CoinMarketCap. As a result, Avalanche now ranks 12th on the list of the largest cryptocurrencies by market capitalization.
The value of the altcoin Avalanche started to grow rapidly after Deloitte, one of the world's largest accounting companies, announced last November 16 it has partnered with altcoin developer Ava Labs. Deloitte will use the Avalanche blockchain to process damage claims in the event of natural disasters, which will be forwarded to the US Federal Emergency Management Agency. Notably, the price of the crypto has soared 25% after news of the partnership broke.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
AAVE tokens are used to pay network fees and are involved in a consensus mechanism. Therefore, their price is growing along with the popularity of decentralized applications (dApps) based on this blockchain platform. Over the last 30 days, the amount of locked funds (TVL) in its smart contracts has risen by 61%, reaching $11.1 billion.