Another competitor appears in the list of 10 biggest coins by market cap, overtaking Shiba and Doge
Avalanche cryptocurrency entered the list of the largest coins on the market after reaching a new all-time high previously, Bloomberg reports.
Earlier, U.Today reported that the AVAX coin topped the memes-based Shiba Inu cryptocurrency and ranked 11th among the best coins sorted by market capitalization. As of now, the coin has entered the “elite” top 10 and moved famous meme-based Dogecoin back into 11th place.
The surge in prices on exchanges is linked to the announcement made by the creator of Ava Labs last week. The company is looking forward to partnering up with Deloitte to build efficient disaster relief platforms.
Avalanche is one of Ethereum’s many competitors that offers faster and cheaper transaction processing over the network under heavy loads. The Deloitte company and the platform Close As You Go will utilize Avalanche blockchain technology to improve the speed and security of the Federal Emergency Management Agency.
The capitalization and coin price of Avalanche have nearly doubled in the last month while showing over 3,000% annual growth. As most cryptos face a sharp correction followed by overall risk in financial markets, AVAX updates its ATH for the fourth day in a row. Back in September, Avalanche Foundation stated that it has collected more than $200 million from private investors and large companies like Polychain and Three Arrows Capital.
At the time of going to press, Avalanche is trading at $ 136 after hitting the most recent ATH of $ 146 for a brief moment in addition to hitting a record 134 million coins volume.
