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Avalanche is known for being in the top ten blockchains on coinmarketcap, usually fluctuating in the 8th and 9th positions. It gained a good rhythm in 2023, whose aftereffects are visible in 2024 as well.
US banking giant Citigroup has released a comprehensive report detailing the successful integration of Distributed Ledger Technology (DLT) into the private market sector through fund tokenization on the Avalanche blockchain network. According to the report, DLT offers a “significant opportunity” to revamp capital markets infrastructure, enabling innovative investment products and enhancing workflow efficiencies.
Blockchain gaming is heating up as titles head to platforms like the Epic Game Store in the hopes of winning over mainstream consumers.
10 of the 11 Spot Bitcoin ETFs have absorbed 242,000 BTC in the space of only 23 days. This has now resulted in a positive daily inflow of $631 million as of yesterday.
TL;DR Trader Joe has emerged as the second largest DEX on the Avalanche blockchain, surpassing PancakeSwap in terms of fees generated in the last 24 hours. Its rise is characterized by its trading volume and fee generation, with over $142 million in trading volume processed in the last 24 hours.
This is a big deal because it could make more financial companies, especially those on Wall Street, start using blockchain technology faster.
Avalanche's Spruce Subnet has been used by Citi to successfully explore the tokenization of private equity funds.
CitiBank, one of the world's largest banks, has successfully conducted a simulation demonstrating the tokenization of a private equity fund on the Avalanche blockchain network, specifically using Avalanche's Layer 1 Spruce subnet. Interestingly, this development has the potential to accelerate the adoption of distributed ledger technology in the financial industry, particularly on Wall Street.
In a significant development within the decentralized exchange (DEX) landscape, Trader Joe has emerged as a dominant force on the Avalanche blockchain, surpassing PancakeSwap to claim the title of the second-largest DEX by fees generated in the past 24 hours.
On 14th February 2024, Citi Bank achieved a groundbreaking milestone by successfully conducting a proof of concept on the tokenization of private funds in collaboration with Wellington Management and WisdomTree. The initiative took place on the Avalanche Spruce institutional test Subnet, revealing the potential of smart contract capabilities to revolutionize traditional assets.
Citigroup is reportedly in collaboration with Wellington Management and WisdomTree, is actively exploring the concept of utilizing Avalanche to tokenize private equity funds.
Citigroup, alongside other financial institutions like Wellington Management, ABN AMRO and WisdomTree, has completed a successful proof-of-concept for tokenizing private equity funds.
The rate of cash inflow into the Avalanche network could impact other key metrics.
Citi's pilot on Avalanche showcases tokenization as a key to unlocking value and operational agility in private markets.
A widely followed crypto trader believes that a trio of altcoins are gearing up for big moves to the upside.
Citi partnered with other traditional financial institutions to simulate operations. More development is needed.
The tech trial will make the financial titan the second major bank to tinker with AVAX.
TL;DR Citibank and DTCC Digital Assets join Avalanche network to test tokenization of private equity funds. The test is being carried out on the Avalanche Spruce subnet, in collaboration with asset managers such as Wellington Management and WisdomTree.
Bitcoin price continues to march higher, fueled by robust demand from the spot Bitcoin ETFs. Which altcoins could follow BTC's bullish price action?
The firm tested a variety of use cases through Avalanche's subnet with a focus on private markets.
In the dynamic realm of cryptocurrencies, Avalanche (AVAX) is causing a stir, riding the waves of a recovery rally that commenced last month. As the broader spectrum of alternative coins experiences a resurgence, AVAX stands at the forefront, ready to extend its ascent, with whispers in the market hinting at a potential surge towards the coveted $50 mark.
The Avalanche blockchain's native AVAX token has surged 6% above $40, buoyed by bullish technical momentum and imminent rollout of a major network upgrade dubbed Durham
Inactive (INJ) has surged by over 1,000% on the year-to-date (YTD) chart, attracting considerable attention from traders worldwide. Similarly, Avalanche (AVAX) is showing positive performance across all charts, indicating the potential for a forthcoming rally.
Sei's surge is driven by positive market vibes, showcasing its technology for digital asset trading. Optimism stands out for its resilience amid market shifts, boosted by recent partnerships and network expansion.
