Avax, the token of Avalanche, a blockchain platform created under the leadership of Emin Gün Sirer, has reached 100 times the pre-sale price.
At Avax's public pre-sale in July last year, each AVAX token was sold for $ 0.50, with a year of lock-in time. The sale, which was completed in a short time, generated $ 42 million.
About 7 months have passed since this pre-sale, and AVAX has since increased to 100 times its price on the pre-sale. Avax's price increase also brought its market value closer to $ 4 billion. Cryptocurrency is among the top 20 largest projects with this market value.
Avax's price increase may have been influenced by recent developments related to Avalanche. Two days ago, a bridge linking Avalanche and Ethereum was announced. With this bridge, users of DeFi tools can transfer their assets between the two ecosystems. On the other hand, yesterday also introduced a new decentralized stock exchange operating on Avalanche under the name “Pangolin”. Also a few days ago, Binance announced its staking service with AVAX, which delivers annual returns of more than 30 percent.