- 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.
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Source: https://www.thecoinrepublic.com/2022/06/30/avax-soared-6-7-avalanche-bridge-to-launch-native-bitcoin-support/