Avalanche Secures $250M to Advance Blockchain Upgrades

The funding, led by Galaxy Digital and Dragonfly, supports the upcoming Avalanche9000 upgrade to reduce costs and enhance scalability.

Avalanche raised $250 million in a private token sale involving over 40 firms, including Galaxy Digital, Dragonfly, and ParaFi Capital.
The Avalanche9000 upgrade, set to launch on December 16, aims to cut blockchain deployment costs by 99% and simplify app development on the network.
This upgrade introduces a subscription-based model for validators, replacing the previous high upfront costs, and supports Avalanche's multi-chain scaling strategy.
The Avalanche Foundation is incentivizing developers with $40 million in grants to build on the network, including retroactive rewards and referral bonuses.
Avalanche's native token, AVAX, has risen over 10% in the past 24 hours, reflecting growing investor confidence in the platform's scalability and institutional adoption.