Avalanche (AVAX) Price Surges by 20% After Amazon Deal

  • AVAX price rises up to 20% in hours after the partnership with AWS.
  • Ava Labs plans to add Subnet deployment to the AWS Marketplace.

Avalanche (AVAX) price skyrockets over 20% in hours after the partnership announcement between Ava Labs and Amazon Web Services (AWS). Moreover, the collaboration takes place to scale blockchain adoption for enterprises, institutions, and governments. 

Following the partnership announcement, the price of AVAX rises over 20% from a daily low of $12.27 to an intraday high of $16.48. The recent price surge has wiped it’s all the losses over the past month.

AVAX Price Chart (Source: CoinMarketCap)

According to CoinMarketCap, the Avalanche price was trading at $15.42. With a market capitalization of $4.8B and a 24-hour trading volume up by 460%. Now it stands at $1.2 M. In addition, the circulating supply is almost 311,582,143 AVAX.

Avalanche Partners With Amazon Web Services

Currently, Amazon Web Services (AWS) supports the Avalanche decentralized applications (dApps) ecosystem and infrastructure. As described in the blog post, Ava Labs plans to add Subnet deployment to the AWS Marketplace as a managed service.

With this decision, blockchain technology becomes more accessible and easier to use for businesses and individuals. With AWS’s assistance, many blockchain networks are likely to use Avalanche to power their networks.

Ava Labs President John Wu said,

“We would love to provide a better experience for the more than 500 applications currently on the chain, and we now have a real partnership that we can direct toward the Activate program.”

As AWS’s first foundational partnership with a blockchain company, this partnership also heralds the beginning of a new era for blockchain technology. There will also be a managed Subnet deployment service available through Ava Labs’ AWS marketplace.

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.