Ava Labs raises $350M at $5.25B valuation: Report

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Ava Labs raises $350M at $5.25B valuation: Report
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  • 📰 Cointelegraph
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Oh no, is that an avalanche of money raining down on avalabsofficial? Avalanche's lead developer raised $350M putting them at a valuation over $5 billion. See what features investors are excited about.

to data from DeFi Llama. Decentralized finance, or DeFi, borrowing and lending protocol Aave accounts for 33.72% of the market share on the blockchain.

AVAX has become one of the most popular blockchains, surpassing a market cap of $21.3 billion. Since the launch of its mainnet in September 2020, the blockchain has grown to an ecosystem of approximately 450 individual projects, removed $118 million worth of AVAX from circulation through token burning and attracted more than 1.5 million community members.

As reported by Cointelegraph last November, the Avalanche Foundation, a primary organization within the Avalanche ecosystem,

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Avalanche developer raising $350 million at $5.25 billion valuation: ReportAvalanche developer raising $350 million at $5.25 billion valuation: ReportAva Labs, the main developer of the Avalanche blockchain, is said to be raising $350 million in new funding at a $5.25 billion valuation.
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