AVA Labs Continues To Grow

The AVAX developer AVA Labs continues to grow. The Ava Labs venture has reached a valuation of $5 billion.

The Avalanche blockchain, which was not given much luck when it was launched by Ava Labs led by Turkish origin Emin Gün Sirer, has become one of the largest ecosystems today. Fast and low-cost transfers have spawned countless apps and marketplaces. Ava Labs is also on its way to becoming decacorn. According to the information received, Ava Labs increased its total valuation to $5.25 billion with the new funding of $350 million. The startup had raised $230 million in funding in September. The rapidly growing Avalanche network reached $14.6 billion in savings. The market value of the network, which has 1.5 million community members, is around $21.3 billion. To date, around 120 million dollars of AVAX has been burned. The network includes more than 450 projects. The largest platform of the Avalanche network is Aave. Focusing on DeFi and borrowing, Aave dominates 33.72% of the blockchain.