Avalanche AVAX/USD is a platform intended for the development of custom blockchain networks as well as decentralized applications (dApps).
AVAX is the native cryptocurrency token that assists with the payment of transaction fees and can even be staked with the goal of securing the network.The $200 million fund as a catalyst for growth
The Avalanche Foundation launched a fund worth over $200 million, which is dedicated to supporting the development of the ecosystem and intended to foster innovation on November 1.
This investment is dubbed “Blizzard” and is comprised of contributions from the Avalanche Foundation, alongside Ava Labs, Polychain Capital, Three Arrows Capital, Collab+Currency, Lvna Capital, and Finality Capital Partners, Dragonfly Capital, CMS Holdings, Republic Capital, R/Crypto Fund, and others.
The main focus behind this fund is tailored towards four key areas of growth across the ecosystem. These include decentralized finance (DeFi), Enterprise applications, non-fungible tokens (NFTs), and culture applications. Additionally, it will also look for opportunities that support other emerging use-cases, including security token issuances, liquidity providers, and even self-sovereign identity.
It doesn’t end there, however, and this is because the support for projects will include equity investments, token purchases, and other various forms of technical support.
There’s even a dedicated team of fund managers composed of experts in blockchain and decentralized finance research and developers, capital markets and finance, and other sectors.
All of this has the potential to boost the Avalanche network forward, which will, in turn, lead to more circulation of the AVAX token, which has the potential to increase its value.
The more users that enter the AVAX ecosystem, the higher the demand for the token will become, and this might be an excellent opportunity to invest in the token before this growth occurs.Should you invest in Avalanche (AVAX)?
On November 2, Avalanche (AVAX) had a value of $65.62.
To get a better perspective as to what kind of value point this is for the token, we will be going over it’s all-time high value as well as its performance in October.
The highest point of value in September for AVAX was on September 23, when the token reached a value of $79.31, which marked its all-time high value as well. This means that at its all-time high, the token was 20% higher in value or by $13.69.
The lowest point of value for the Avalanche (AVAX) token in October was on October 12, when it fell to $51.43.
The highest point the token reached in October was on October 26, where it reached $72.57. Here we can see that the token increased in value by $21.14 or by 41% throughout that span of time.
With this in mind, we can expect the token to reach $75 by the end of November, making it a solid investment.
The post Should you invest in Avalanche after it created a $200M fund to attract crypto developers? appeared first on Invezz.