Latest Avalanche news
What Is Avalanche Network (AVAX)? The 'Flexible' Ethereum Competitor
Avalanche is a platform for building powerful decentralized applications and custom blockchain implementations. Here's how it works.
Not Just Terra: ApeCoin, Avalanche, Solana, Shiba Inu All Down at Least 20% in Crypto Crash
The crypto market is deep in the red today, and these coins have suffered some of the biggest losses outside of Terra.
Avalanche Falls 40% As AVAX Finds Itself In The Midst Of UST's Unpegging
The token of smart contract platform Avalanche (CRYPTO: AVAX) is now paying the price of enjoying being one of the assets locked as collateral to maintain the peg on Terra's (CRYPTO: LUNA) native algorithmic stablecoin TerraUSD (CRYPTO: UST). Just today, the token's price fell from its 24-hours high of $47.20 down to under $28 — a fall of nearly 41% in mere hours. What Happened: Earlier on Wednesday, Terra's price fell by more than 97% as UST lost its peg to the dollar and Luna Foundation Guard — the non-profit backed by TerraLabs tasked with protecting UST's peg — emptied its cryptocurrency reserves in a futile attempt to stop the freefall, as reported by Cointelegraph. According to official data, those reserves are now made up of 68.4% AVAX and fuel fears that — with its pre-dump 24-hours trading volume being under $2 billion — a major dump is incoming for the token. Luna Foundation Guard's reserves also fell from nearly $4 billion at the beginning of the month down to $103 million as of press time. AVAX Price Action: As of press time, AVAX is trading at $34.65 after recovering 23% from its low of $27.96 reported earlier today. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
LUNA Loses Half its Value in 24 Hours as DeFi Tokens Crater Avalanche Also Plunges as Bears Chomp on Crypto
Avalanche Also Plunges as Bears Chomp on CryptoThe Defiant•
Why Avalanche is the Killer App for NFT Games: Ava Labs President
Avalanche’s subnets give game creators more flexibility and can insulate them from wider network issues, John Wu tells Decrypt.