Avalanche Foundation, a non -profit organization behind the collapse of cryptocurrencies, is said to collect one billion dollars to launch the projects of the Ministry of Digital Treasury and accumulation projects.
Avalanche Foundation is in active discussions with investors to launch an asset asset asset company and convert another company into a “encrypted” vehicle, The Financial Times I mentioned On Thursday, quoting familiar sources.
According to what is reported, non -profit organizations expect a billion dollars of financing, which will be used to buy Avalanche (AvaxBasically at a reduced price.
Avalanche is 21 coded currencies through market value, at a value of $ 12.2 billion as of publication, According to To Coingecko.
A deal involves HIVEMIND and Dragonfly
According to the report, it includes a billion dollars of $ 1 billion, including a $ 500 million position led by HIVEMIND CAPITAL, which is based in New York -based in the New York in a company located in NASDAQ.
According to what was reported, it was possible that the first deal will be completed at the end of the month, with Anthony Scarmocchi – A prominent encoded investor and a former White House contact director – works as a consultant.
According to what was reported, the second deal was implemented via a special purpose acquisition vehicle, which includes Dragonfly Capital industry investor. According to what was also mentioned, the deal is also looking to collect up to $ 500 million, but it may not be completed until October.
Cointelegraph is close to Ava Labs, HIVEMIND and Dragonfly to comment regarding the potential lift but he did not receive a response at the time of publication.
Avax Supply crowned 720 million icons
The report added that HIVEMIND and Dragonfly are expected to buy Avax from Avalanche at a reduced price.
At today’s prices, it will translate one billion dollars into 34.7 million Avax, or about 8 % of 422.3 million Avalanche symbols in trading.
Similar to cryptocurrencies such as bitcoin (BTC), That has a file The show was made at 21 million BTCAvalanche has a limited supply of 720 million Avax.
It was launched in September 2020Avalanche is an open source Blockchain platform that supports decentralized applications and smart contracts. The protocol was developed by AVA LABS, an emerging company founded by EMIN Gün Sierer from Cornell University.
Related to: DEXs, trading robots, and whale mechanics
AVAX, the original cryptocurrency of Avalanche Blockchain, has reached its highest level ever exceeding $ 134 after a short period of its launch, with a peak of about $ 135 in November 2021, according to Coingecko data. The cryptocurrency later witnessed a sharp sale in early 2022 and has not climbed over $ 65 since then.
At the time of this report, AVAX has been traded at $ 28.8, as it has seen 16 % prominent prices in the past seven days.
As a pioneer altcoinThe collapse was gaining great momentum in the industry. In August, gray investments in the major industry were provided to the US Securities and Exchange Committee to launch a Immediate breakdown box (ETF).
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