Stay up to date with the CriptoTendencia WhatsApp channel: Instant news about Bitcoin, Altcoins, DeFi, NFT, Blockchain and Metaverse. Subscribe!
After several months of waiting on the testnet, Avalanche launches its anticipated Avalanche9000 update on the mainnet. This step represents a great advance for this multipurpose blockchain on its way to establishing itself as one of the largest projects. For analysts, this new stage could positively impact the price of its native token AVAX.
In a post from X, Avalanche offers some of the details as well as expectations from the team behind the network. In that sense, he states that in 2025 the arrival of hundreds of first layers (L1) is expected, which have been in the development phase since the update was in the testnet.
Among the qualities that make this update unique is that it reduces the cost of creating an L1 by 99.9%. This opens the door for big ideas from low-income developers to come to life. The latter would be positive, since it stimulates innovation and competition in the decentralized finance sector.
More Read
Innovation and evolution are factors that the DeFi sector urgently needs. The cost of creating first and even second layer networks is one of the big obstacles. Now that Avalanche launches its long-awaited update, the landscape seems to change in that sense.
Another factor to take into account about Avalanche9000 is its impact on the AVAX token. At the time of writing, the price of the coin is just below $50.
Will the Avalanche upgrade take AVAX to $100?
With Avalanche9000, this network aims to establish itself as one of the largest alternatives to Ethereum in the field of blockchains. Its global growth in the coming months could be significant, considering that this update is the largest since its creation in 2020.
It is worth mentioning that the board of this protocol has a financing plan of $250 million dollars. With this, the mission is to encourage developers to create projects on the network. If Avalanche’s goals materialize, something that is possible thanks to the bull market, its token could see a big jump.
Even for the most optimistic, the AVAX price could return to its all-time highs in the short term. According to data from CoinMarketCap, the current ATH of the token was established in November 2021, when it reached $146.21 per token. In the most conservative scenario, the price of the coin could reach $100, which means a very acceptable increase considering the current value.
Either way, Avalanche’s upgrade goes far beyond its price and its mission could have a larger impact on the entire crypto world. As is known, completely decentralized independent blockchains (now L1) can be created in Avalanche. The latter can function like Cardano, Solana, Tron, etc., creating their own DeFi ecosystems.
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
