Follow Us

AVAX soared 6.7%- Avalanche Bridge To Launch Native Bitcoin Support

Share on facebook
Share on twitter
Share on linkedin

Share

Share on facebook
Share on twitter
Share on linkedin
  • Avalanche launched a native bitcoin support in its cross-bridge.
  • After the announcement by Avalanche regarding the native token, AVAX, the prices surged 7.4%!
  • It makes AVAX a faster-growing token than the significant cryptocurrencies.
  • According to sources, there is currently a $2.68 billion in total locked value in the Avalanche ecosystem.

The Uprising Of AVAX

Avalanche, a smart-contract platform, has added support for the native Bitcoin in its cross-chain bridge. 

We are currently in the recovering phase of the cryptocurrency market right now. 

Bitcoin is up 0.64%, while Ethereum is up 2.34%.

After the announcement by Avalanche regarding the native token, AVAX, the prices surged by 7.4%!

It results in AVAX being a faster-growing token than the significant cryptocurrencies.

Protocols By Avalanche

This addition is allowing the users to bridge native bitcoin. 

Along with this, the newly launched ‘Core’ wallet will allow the users to get exposure to Avalanche’s Defi ecosystem.

Platypus, decentralized finance (Defi) protocol, has a BTC pool worth… guess what?

$11.7 million in total value locked(TVL).

The offer yields are somewhere between 23.72% and 62.84%.

To support the transfers of ERC20 tokens between Ethereum and Avalanche networks, The company launched the Avalanche bridge last August.

There was an 11 billion dollar drop from December in the TVL of Avalanche, as the Defi sector is struggling with the concerns regarding lending protocols.

According to sources, there is currently a $2.68 billion in total locked value in the Avalanche ecosystem.

ALSO READ: Top 10 NFT Collections You Should Know About in 2022

Steve Anderrson
Latest posts by Steve Anderrson (see all)

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

Welcome Back!

Login to your account below

Retrieve your password

Please enter your username or email address to reset your password.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00