On Sept.16 Avalanche (AVAX) price hit a new all-time high at $68.89 and over the last few months the project has risen to challenge the Ethereum (ETH) network’s dominance among smart contract platforms. Согласно сайту проекта, the layer-one protocol capable of surpassing 4,500 транзакций в секунду (TPS) with a time to finality of less than 2 секунды.

Данные Cointelegraph Markets Pro и TradingView показывают, что с момента достижения минимума $32.10 в сентябре. 7, the price of AVAX has rallied 111% to establish a new all-time high on Sept. 16 as its 24-hour trading volume spiked 200% к $2.8 миллиард.

4-часовой график AVAX / USDT. Источник: TradingView

Three reasons for the surging price of AVAX include the recent completion of a $230 investment round by large capital funds, the continued migration of liquidity to the Avalanche network and new integrations and protocol upgrades that help improve the user experience.

Big funds back Avalanche

The jump in momentum seen in AVAX price on Sept. 16 came following the announcement that a handful of large funds including Polychain Capital, Three Arrows Capital and Dragonfly capital took part in a $230 million funding round for the project.

This marks the largest investment into the Avalanche ecosystem to date and indicates that larger institutional players are starting to take a keen interest in the Ethereum competitor.

The Avalanche network is cross-chain compatible with Ethereum meaning any tokens or projects that operate on Ethereum can fully migrate to the Avalanche ecosystem and take advantage of its higher throughput capabilities and lower transaction costs.

With no definitive date on when Eth2.0 will be fully operational or what its final capabilities will be, networks like Avalanche now have an opportunity to make the case for why they are a better choice, which could lead to an increase in their market share.

Liquidity migration and rising TVL

A second reason for the building strength seen in AVAX has been the continual migration of assets from networks like Ethereum to Avalanche to participate in its growing decentralized finance ecosystem.

Evidence of the asset migration can be found in the total value locked (ТВЛ) data provided by Defi Llama, which shows that the TVL on Avalanche has been climbing rapidly since Aug. 19 and reached a new record high of $2.17 миллиарда сентября. 16.

Total value locked on Avalanche. Источник: Defi Llama

The rise in TVL is largely due to the launch and growth of several successful decentralized finance (DeFi) protocols on Avalanche including Benqi (QI), Trader Joe (JOE) and Pangolin (PNG).

Связанный: Прорыв бычьего флага подталкивает Лавину к $80 поскольку цена AVAX достигает очередного рекордного уровня

Partnerships and crypto-related integrations

A third factor that has helped boost the value of AVAX has been a series of partnership and integration announcements that have excited investors and put the spotlight on the project.

The Avalanche NFT ecosystem has seen an influx of interest thanks to a partnership with the sports card and memorabilia company Topps, which launched its “Inception” NFT digital collectibles series on the network.

There is also a vote underway in the Aave community, one of the top DeFi protocols in the cryptocurrency ecosystem, to see if investors want to see AAVE launch on the Avalanche network. A vote of approval could lead to a further increase in TVL on Avalanche as assets held in AAVE on Ethereum have the potential to be migrated to AAVE on Avalanche.

По данным Cointelegraph Markets Pro, market conditions for AVAX have been favorable for some time.

ВОРТЕКИ™ Счет, эксклюзивно для Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, объем торгов, недавние движения цен и активность в Twitter.

ВОРТЕКИ™ Счет (зеленый) против. AVAX price. Источник: Рынки Cointelegraph Pro

Как видно на диаграмме выше, вихри™ Score for AVAX spiked into the green and reached a high of 86 в сентябре. 13, вокруг 24 часов до повышения цены 40% в течение следующих двух дней.

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