California’s Department of Motor Vehicles (DMV) has digitized 42 million car titles using the Avalanche (AVAX) network. This initiative is part of a modernization effort to streamline the state’s title transfer process in collaboration with software development firm Oxhead Alpha. California DMV to Digitize Car Titles According to an Avalanche blog post, users will soon...Read More
The AVAX native token for the layer-1 blockchain Avalanche is in severe pain this weekend, slumping more than 10% at one point in a fall to its lowest level since December 2023. Over the past 24 hours, the token has crashed from $27.87 to an intraday and six-month low of $24.92, according to CoinGecko. Moreover,...Read More
Investment products in digital assets witnessed a significant weekly outflow of $942 million, breaking the continuous seven-week streak of inflows reaching $12.3 billion. According to the CoinShares, this shift can be attributed to investor hesitation. Hesitant Investors Cause US ETF Inflows Dip The latest edition of Digital Asset Fund Flows Weekly Report revealed that the...Read More
Avalanche Foundation, the non-profit organization behind the Avalanche ecosystem, has launched the first phase of a $1 million liquidity mining incentive program dubbed Meme Coin Rush. According to an announcement seen by CryptoPotato, the first phase has been kicked off with participation from liquidity management and decentralized market-making platform SteakHut and decentralized exchange Trader Joe....Read More
The volume of daily large transactions on decentralized, open-source Proof-of-Stake blockchain Avalanche has surged to its highest since December 2023, as the network’s native token, AVAX, reached levels not seen since May 2022. According to a tweet from crypto market intelligence platform IntoTheBlock, Avalanche’s daily large transaction volume hit $329 million on Monday, March 11,...Read More
Investment products for digital assets received significant influxes of $708 million last week, contributing to year-to-date inflows of $1.6 billion and increasing the total global assets under management to $53 billion. However, trading volumes in ETPs dropped to $8.2 billion from the previous week’s total of $10.6 billion, though they still surpass the 2023 weekly...Read More
The Avalanche Foundation has unveiled eligibility criteria designed for meme coins, which the platform will consider supporting. On Tuesday, the organization behind the Avalanche blockchain introduced an “eligibility framework,” providing guidelines for its unique effort to acquire meme coins. Should the Avalanche Foundation choose to acquire them, the creators of these often highly volatile crypto...Read More
The Avalanche Foundation, a nonprofit overseeing the development of the Avalanche Network, has revealed plans to venture into the meme coin market. This move involves allocating a significant portion of its $100 million NFT incubator fund to purchase meme coins based on the Avalanche blockchain. Embracing the Meme Coin Culture According to a December 29...Read More
Digital asset investment products resumed inflows after breaking the 11-week streak of positive cash flows. According to the findings by CoinShares’ Head of Research, James Butterfill, the net inflows totaled $103 million over the last week. Bitcoin investment products, as usual, attracted the highest capital inflow. The digital asset manager revealed a net inflow of...Read More
On December 18, the Avalanche network experienced a surge in its average gas fee, reaching an unprecedented 5,110.30 nAVAX, or about $4.41, according to Avascan data. This substantial increase is attributed to a unique event caused by the founder of the decentralized trading platform Trader Joe, known as @cryptofishx on social media, who introduced an...Read More
Digital assets investment products ended their 11-week streak of positive cash flows with withdrawals amounting to $16 million. However, trading activity remained significantly higher than the yearly average, reaching $3.6 billion for the week, in contrast to the year-to-date average of $1.6 billion. Bitcoin was the worst hit, witnessing outflows of $33 million last week,...Read More
Investment products related to digital assets experienced inflows amounting to $43 million last seven-day period, marking the 11th consecutive week of such positive movements. However, this figure represents a noticeable decrease compared to previous weeks. According to CoinShare’s latest report, the recent rise in prices has prompted a significant influx into short positions, as some...Read More
Republic is gearing up to list its profit-sharing digital asset, the Republic Note, on INX’s US-regulated trading platform. The listing, which will be done via the Avalanche blockchain, aims to make private market investments more accessible to and tradable among investors around the world. Republic Note is a real-world asset-backed digital security that allows investors...Read More
Digital asset investment products experienced a cumulative inflow of $176 million in the past week, marking the eighth consecutive week of positive weekly inflows. The share of total cryptocurrency volumes held by Exchange-Traded Products (ETPs) is on the rise, averaging 11%, significantly surpassing the long-term historical average of 3.4%. The latest data suggest that this...Read More
Crypto startup investment company Republic has selected Avalanche as the blockchain to launch its native token, the Republic Note, as part of its mission to democratize private market investing. According to an announcement seen by CryptoPotato, Republic chose Avalanche for the launch due to the network’s scale, speed, and customizability, with intentions to expand its...Read More
Avalanche (AVAX) has surged to its highest price since August 2022, topping $24 today. Furthermore, the layer-1 blockchain token is the market’s top performer at the moment with nearly every other high-cap coin taking losses. AVAX has doubled in price over the past fortnight and made a whopping 166% over the last month, but what...Read More
Ava Labs, a crypto startup and the leading developer of the Avalanche blockchain has laid off 12% of its workforce amid the persistent bear market. The company’s founder and CEO, Emir Gün Sirer, confirmed the job cuts on X, stating that the move would allow the management to reallocate resources to the growth of the...Read More
Movement Labs, a community-driven technology company, has completed its pre-seed fundraising round and the launch of a tool from the Movement software development kit (SDK) on the Avalanche blockchain. According to a press release sent to CryptoPotato, Movement Labs raised $3.4 million through the pre-seed round to enable the advancement and adoption of Move, a...Read More
According to CryptoRank Platform, the cryptocurrency market is about to witness seven substantial token unlocks this week. The first is scheduled for September 12, when the blockchain platform Aptos will release $24.8 million worth of APT into circulation. Events of this type could impact market liquidity and trading volume, thus spurring a price decline for...Read More
On July 25, Avalanche stated that it was on a mission to “pioneer the future of asset tokenization.” Tokenization is poised to be one of the most impactful blockchain innovations of the next decade, it stated. Today, the Avalanche Foundation introduces Avalanche Vista, a $50M initiative to pioneer tokenization on #Avalanche Tokenization is poised to...Read More
Decentralized finance (DeFi) protocol Struct Finance recorded over 129% gains in its total value locked (TVL) over the past week, according to data from DeFi TVL aggregator DeFiLlama. Struct Finance’s TVL more than doubled between July 11 and July 18 from $350,820 to $800,000, and at the time of writing, the TVL was at $806,314....Read More
Alibaba Cloud – a subset of Chinese e-commerce behemoth Alibaba – along with Avalanche has built a launchpad for businesses to deploy metaverses on the layer 1 blockchain. Dubbed “Cloudverse,” the platform is designed to serve as a one-stop, end-to-end solution for businesses to easily customize, launch, and maintain their own metaverse space, thereby creating...Read More
In Avalanche’s fourth-quarter report shared with CryptoPotato, data and analytics platform Nansen reported a heavily volatile daily transaction count on the Avalanche C-Chain. The Avalanche C-Chain is essentially short for contract chain – which is the default smart contract blockchain on Avalanche. It allows the creation of any Ethereum-compatible smart contracts and runs complementary to...Read More
The Commodity Futures Trading Commission (CFTC) announced the addition of key industry members to the newly constituted Technology Advisory Committee (TAC). The official press release stated that the agency has appointed White House official Carole House as the new chair, while blockchain analysis company TRM Labs’ Ari Redboard has been onboarded as the vice chair...Read More
Ethereum layer-2 protocol Boba Network has announced the launch of its L2 scaling and augmenting solution on the Avalanche blockchain. In a press release shared with CryptoPotato on Wednesday, Boba noted that the latest integration with Avalanche would further boost its status as a leading L2 scaling solution and provide developers network with a new low-cost...Read More
The decentralized derivatives exchange, GMX, saw the price of its native token plummet by 20% in the past 24 hours. Even though the entire market is currently declining, there seems to be a more particular reason for the decrease in the GMX price. Multiple popular analysts took it to Twitter to point out that there...Read More
Global investment giant KKR & Co has partnered with digital asset management firm Securitize to tokenize its private equity fund on a public blockchain network. According to an official press release, the partnership will allow the KKR to tokenize its second Health Care Strategic Growth Fund on the Avalanche blockchain, making it accessible to investors...Read More
Avalanche-based DeFi staking platform – Nereus Finance – suffered a flash loan arbitrage attack. Decentralized exchange (DEX) Trader Joe and DeFi platform Curve Finance are also believed to have been impacted by the event that was executed around 3:26 pm ET on September 6. Both Avalanche and Nereus are yet to release an official statement...Read More
After Ava Labs, Ripple’s Brad Garlinghouse denied allegations, while Kyle Roche claimed that the stint was a deliberate scheme to intoxicate and exploit him. Crypto Leaks, which happens to be an online publication exposing corruption and fraud in the crypto ecosystem, made some astonishing claims about Ava Labs forming a secret pact with Kyle Roche,...Read More
Ethereum competitor Avalanche announced new support for native Bitcoin (BTC) through its bridge solution built on its crypto wallet Core. Following the news, its native token AVX spiked higher, outperforming major digital assets like Bitcoin and Ethereum in the past 24 hours. Wrapped BTC on Avalanche Ava Lab – the foundation behind the smart contracts...Read More
