Avalanche (AVAX) Price Shoots By 26% Over This Amazon Deal

Avalanche (AVAX) Price News: The price of Avalanche (AVAX) has increased by 26% following the announcement that Amazon Web Services (AWS) has partnered with Ava Labs. This partnership happens to scale blockchain adoption for enterprises, institutions, and governments.

It’s official! @Amazon #ChoseAvalanche to bring scalable blockchain solutions to enterprises and governments 🔺#AWS fully supports Avalanche’s infrastructure and dApp ecosystem, including one-click node deployment, offering the best tooling for these high compliance use cases. pic.twitter.com/syInSrU9XD

advertisement

— Avalanche 🔺 (@avalancheavax) January 11, 2023

The partnership aims to increase the strength and flexibility of the network for developers using it. Also, making it simpler for individuals and organizations to set up and manage nodes on Avalanche, Ava Labs’ layer-1 blockchain.

Avalanche Collaborates With Amazon Web Services

AWS currently supports the decentralized application (dApp) ecosystem and infrastructure of Avalanche. According to the blog, Ava Labs now intends to add Subnet deployment as a managed service to the AWS Marketplace so that both individuals and institutions can easily launch customized Subnets.

The decision is a big step forward for blockchain technology because it makes it more approachable and simple for businesses and people to use. Numerous blockchains have already used Avalanche to power their networks, and with AWS’s assistance, this number is likely to rise.

According to John Wu, president of Ava Labs,

We would love to provide a better experience for the more than 500 applications currently on the chain, and we now have a real partnership that we can direct toward the Activate program.

Due to the fact that this is AWS’s first foundational partnership with a blockchain company, it also ushers in a new era for blockchain technology as a whole. The Subnet deployment managed service from Ava Labs will also be made available on the AWS marketplace.

AVAX price rises by 26%

Following the partnership announcement, the price of AVAX spiked 26% from a daily low of $12.27 to an intraday high of $15.42. The recent price surge has wiped it’s all the losses in the last 30 days.

Avalanche price at the time of writing is $15.38, with a market capitalization of $4.7B and a 24-hour trading volume up by 359.34%. Now it stands at $11 B. At the same time, the circulating supply is approximately 311,582,143 AVAX.

Also Read: Tokenization: What is it and how does it work?

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.