Crypto News – The price of Avalanche (AVAX) surged by an impressive 16.01% to $22.48. The expansion coincides with a period of consolidation for altcoins due to unfavorable market incursion.
Breaking News: Avalanche and JPMorgan Pilot Program Integration Increases AVAX by More than 15%
The price of Avalanche has recovered after Onyx, JPMorgan, and Apollo Global announced a ground-breaking partnership. Through their partnership with Onyx and Apollo, Avalanche is positioned to help shape cutting-edge solutions for the financial services sector and expand the potential of blockchain technology.
The partnership is housed under Project Guardian and uses LayerZero Labs to connect Onyx to a permissioned Avalanche Evergreen Subnet. This integration is a big step toward transforming the asset and wealth management business by trying to make it easier to subscribe to and redeem funds offered by WisdomTree Prime.
Detailed Information About POC and Avalanche Evergreen Subnet
Tokenization and blockchain technology can automate portfolio management, as demonstrated by the proof of concept (POC) study carried out by Onyx and Apollo Global. The idea was tried in a restricted setting, but it sets the stage for possible broad adoption and demonstrates how blockchain technology might revolutionize conventional banking procedures.
In this collaboration, Avalanche Evergreen Subnets are essential since they function as specialized blockchains that are adapted to institutional requirements. This project, which makes use of Avalanche’s special qualities of speed, scalability, and customization, perfectly complements Ava Labs’ objective to digitize and tokenize global assets.
Avalanche Seems to Have Overcome Difficult Times
The incredible rise of Avalanche follows a difficult time for the coin, during which there was a large decline and 99% of addresses reported losses. At its lowest point, 5.46 million addresses were holding AVAX. The sharp difference between the number of addresses that were profitable at the time (160) and those that were losing money at the same time (27,640) highlights Avalanche’s ability to bounce back from hardship.
Apart from the partnership with JPMorgan, Avalanche achieved another significant milestone with the introduction of the Inter-Blockchain Communication (IBC) protocol to AVAX through the Landslide Network project. Avalanche has also introduced Avalanche Warp Messaging (AWM) and HyperSDK, all of which have played a major role in the recent growth drive.