AVAX(Avalanche)24 hours pump 6.19%

Gate News Bot news, on September 3rd, according to CoinMarketCap, as of the time of publication, AVAX(Avalanche) is currently priced at $24.56, with a rise of 6.19% in the last 24 hours, reaching a high of $25.30 and a low of $22.70, with a 24-hour volume of $755 million. The current market capitalization is approximately $10.371 billion, an increase of $605 million compared to yesterday.

Avalanche is an open-source platform for launching decentralized applications and enterprise-level blockchain deployments with high scalability. It aims to address the blockchain trilemma of scalability, decentralization, and security through its innovative consensus protocol and unique network architecture.

Important news regarding AVAX recently:

1️⃣ The re-staking protocol Suzaku completes $1.5 million financing The re-staking protocol Suzaku has announced that it has completed a $1.5 million financing round, which includes seed funding, a public sale, and grants. This injection of funds will provide Suzaku with more resources to help further develop and improve its re-staking services within the Avalanche ecosystem.

2️⃣ The activity level of ecosystem financing has increased The successful financing of Suzaku reflects investors' ongoing interest in innovative projects within the Avalanche ecosystem. This influx of funds may stimulate more developers to build applications on the Avalanche platform, thereby enhancing the vitality of the entire ecosystem.

3️⃣ Re-staking technology may drive AVAX demand rise With the development of the re-staking protocol, it may attract more users to participate in AVAX staking activities. This could lead to more AVAX being locked in staking contracts, thereby reducing the market circulation, potentially driving up the price of AVAX.

From a technical perspective, the rise in AVAX prices is accompanied by an increase in volume, indicating that the market is responding positively to this good news. However, investors still need to closely monitor the overall cryptocurrency market trends, as they may impact AVAX's subsequent performance.

This message is not intended as investment advice; investors should be aware of market volatility risks.