Avalanche Overtakes Dogecoin, Shiba Inu in Market Value After Deloitte Deal

Ethereum-rivaling and popular layer-1 blockchain platform Avalanche is causing a stir in the cryptocurrency market, managing to surpass the likes of Dogecoin and Shiba Inu to make it to the list of top 10 cryptocurrencies in terms of market capitalization. Several factors have helped propel Avalanche to a new all-time high, but the biggest push behind its most recent rally has been the announcement of a collaboration with the “Big Four” professional services firm, Deloitte. The announcement states that Avalanche will work with Deloitte in building a more efficient disaster-relief platform on the blockchain.

Avalanche’s Original Token awax Reached an all-time high of $146 (approximately Rs 10,867) on Sunday, 21 November, a gain of over 20 percent in value within a 24-hour period. according to the data of coingecoAVAX has grown by nearly 47 per cent in seven days, 83 per cent in two weeks and over 133 per cent in the last three months. There are currently over 350 projects in the blockchain with more to come – making Avalanche a strong contender for Ethereum’s dominance as the leading smart contract platform. Avalanche also has some advantages over Ethereum. It is more easily scalable, faster and more cost-effective than Ethereum.

cooperate with Deloitte is a testament to its preference Ethereum very. according to deloitte Press release On collaboration, the “Close As You Go Service” aims to “simplify disaster reimbursement applications for victims of natural disasters, collect and validate the documentation needed for funding.”

“The security and rapid consensus of Avalanche Networks enables the necessary documents to quickly collect, process and certify, thereby improving the accuracy of federal disaster claims because of how the code controls the process,” They say Avalanche Labs founder Emin Gunn Sirer. He further noted that since Avalanche claims to be a carbon-neutral platform, its eco-friendly goals also align well with Deloitte’s.

Earlier this November, Avalanche supporters also launched a new fund called Blizzard, which received an impressive $220 million (about Rs 1,638.79 crore) in seed investments from contributors, including three arrow capital – A company that has backed Ethereum in the past but has run into an avalanche due to high gas fees.

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