Cryptocurrency News, Market Analysis

Avalanche Surpasses DOGE & SHIB As Top 10 Largest Coin By Market Cap.

The Avalanche cryptocurrency entered the list of the biggest currencies in the world after recently setting a new all-time high.

In line with data from coinmarketcap, the AVAX coin had eclipsed the Shiba Inu cryptocurrency, which is based on memes, and had risen to 11th position among the top cryptocurrencies ranked by market capitalization. The coin has officially joined the “elite” top ten, relegating the popular meme-based Dogecoin to 11th place.

The price increase on exchanges is linked to the announcement made by Ava Labs’ inventor last week. The organization is excited to work with Deloitte to develop effective disaster assistance tools.

Avalanche is one of several Ethereum rivals that claims to be able to execute transactions quicker and cheaper on the network even when it is overburdened. The Deloitte business and the platform Close As You Go will use Avalanche blockchain technology to help the Federal Emergency Management Agency increase its speed and security.

The relationship between Avalanche and FEMA is one of the few instances when blockchain technology meets governance organizations like FEMA’s, and it might be a significant step toward the integration of decentralized technologies into regular governable systems.

Avalanche’s market capitalization and coin price have nearly doubled in the previous month, with an annual growth rate of over 3,000%. AVAX upgrades its ATH for the fourth day in a row, despite the fact that much of crypto is experiencing a big slump followed by worldwide risk-off on financial markets. Avalanche Foundation announced in September that it has raised more than $200 million from individual investors and significant corporations such as Polychain and Three Arrows Capital.

At the time of writing, Avalanche is trading at $143.6 USD, having briefly reached the all-time high of $146 USD, as well as a record-breaking volume of $3,410,354,168 USD coins.

Avalanche Surpasses DOGE & SHIB As Top 10 Largest Coin By Market Cap.

Avalanche Price Chart – Source: CoinMarketCap

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