AVAX Soared 28% After Avalanche Joins With Amazon Web Services

Key Points:

• AVAX soared 28% after the project partnered with Amazon’s cloud computing platform.
• Amazon Web Services will fully support Avalanche’s infrastructure and dApp ecosystem.
• The partnership will make it easier for individuals to launch and manage nodes on Avalanche and aims to give the network more power and flexibility for developers.

Avalanche recently announced a partnership with Amazon Web Services, the cloud computing platform. Immediately after announcing the partnership, AVAX soared 28% immediately after the announcement.

According to the announcement posted by the two parties on the evening of January 11, the Amazon Web Services cloud computing platform officially joined hands with Ava Labs – the organization behind Avalanche, to popularize and scale the application of blockchain technology in businesses, organizations, and governments.

The partnership aims to make it easier for individuals to launch and manage nodes on Avalanche and gives the network more power and flexibility for developers.

AWS will support Avalanche’s infrastructure and decentralized application (dApp) ecosystem and one-click node deployment through its marketplace. Links will also include Ava Labs’ participation in AWS Activate, a program that helps early-stage startups and entrepreneurs get started on its platform.

Additionally, AWS will support Avalanche’s dApp ecosystem and deploy subnets to Amazon Marketplace to enable individuals and organizations to operate custom subnets themselves. At the same time, Ava Labs will participate in AWS Activate, a program for startups and fledgling entrepreneurs.

The subnets are part of Avalanche’s scaling solution that redirects traffic away from the main blockchain and allows projects to stake its native token, AVAX, while also creating blockchains layer-1 or layer-2.

Avalanche’s AVAX token has gone “crazy” in the past 24 hours. It once hit $16.50 and is currently trading around $16, recording a gain of 27.73% within 24 hours. The total trading volume reached 954 million USD, increasing four times during the day.

Recently, Avalanche has continuously made significant strides. For example, it integrates NFT with the e-commerce giant Shopify, cooperation with the World Chess Federation, or essential upgrades like “Banff 5”. But in general, 2022 is an inefficient year, and it is difficult to retain users for Avalanche.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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