AVAX (Avalanche) rose 3.32% in the last 24 hours.

Gate News Bot news, September 4th, according to CoinMarketCap data, as of the time of writing, AVAX (Avalanche) is currently priced at $25.23, with a rise of 3.32% in the last 24 hours, reaching a maximum of $25.61 and a minimum drop to $22.70, with a 24-hour volume of $734 million. The current market capitalization is approximately $10.652 billion, an increase of $342 million compared to yesterday.

Avalanche is an open, programmable smart contract platform designed for decentralized applications. It uses an innovative consensus protocol and subnet architecture to provide fast, low-cost, and scalable blockchain solutions, supporting the development of various fields such as finance, gaming, and enterprise applications.

Important news about AVAX recently:

1️⃣ The re-staking protocol Suzaku completes $1.5 million financing The re-staking protocol Suzaku has successfully completed a financing of 1.5 million dollars, with funding sources including seed rounds, public offerings, and grants. This funding will provide Suzaku with more resources to help it further develop and enhance re-staking services within the Avalanche ecosystem.

2️⃣ The activity level of ecosystem financing has increased The successful financing of Suzaku reflects investors' ongoing interest in innovative projects within the Avalanche ecosystem. This influx of funds may stimulate more developers to build applications on the Avalanche platform, thereby enhancing the vitality and attractiveness of the entire ecosystem.

3️⃣ Re-staking technology may drive AVAX demand rise With the development of the re-staking protocol, it is expected to attract more users to participate in AVAX staking activities. This may lead to more AVAX being locked in staking contracts, thereby reducing the market circulation volume and potentially driving up the price of AVAX.

From a technical perspective, the rise in AVAX prices is accompanied by an increase in volume, indicating that the market is responding positively to these developments. However, investors should still closely monitor the overall cryptocurrency market trends, as they may impact AVAX's subsequent performance.

This message does not constitute investment advice, and investors should be aware of market volatility risks.