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Avalanche Partners with Amazon Web Services, AVAX Rallies 25%

Avalanche has announced a partnership with cloud-computing platform Amazon (NASDAQ:AMZN) Web Services (AWS) to bring wider adoption of blockchain technology by...
Avalanche Partners with Amazon Web Services, AVAX Rallies 25% © Reuters. Avalanche Partners with Amazon Web Services, AVAX Rallies 25%
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Avalanche has announced a partnership with cloud-computing platform Amazon (NASDAQ:AMZN) Web Services (AWS) to bring wider adoption of blockchain technology by enterprises, institutions, and governments.

Avalanche Partners with Amazon

Ava Labs, the company building out layer-1 blockchain Avalanche, announced Wednesday, January 11th, that it will work with AWS to help scale blockchain adoption across enterprises, institutions, and governments.

As part of the partnership, Ava Labs will offer its “Subnet deployment” as a service through the AWS Marketplace. Any organization can enlist Ava Labs via AWS to launch a custom Subnet.

Howard Wright, VP and Global Head of Startups, AWS, said his company will help expand Avalanche adoption “to new geographies and customer segments” and “support new tooling for Avalanche’s infrastructure and ecosystem.”

Subnets are like custom blockchains built on Avalanche. Subnets have custom rulesets and allow organizations deploying them even to launch their own unique tokens.

AVAX Reacts, Rallies 25%

In reaction to the news, Avalanche’s native token, AVAX, rallied as much as 25% to trade as high as $16.38. This is its highest price since November 8th, 2022. AVAX now trades at $15.09, maintaining a 24-hour gain of 21.3%.

The 24-hour price chart for Avalanche (AVAX). Source: CoinMarketCap

On the Flipside

  • The partnership also comes just a week after Avalanche announced a partnership with Shopify (NYSE:SHOP) to streamline the NFT process for buyers and sellers.

Why You Should Care

The partnership intends to make it easier for individuals to launch and manage nodes on Avalanche while helping the network expand and become more flexible for developers.

Here’s our prediction for Avalanche post-FTX collapse:

Cryptocurrency Outlook for Solana (SOL), Avalanche (AVAX), and Snowfall Protocol (SNW) Post-FTX Bankruptcy

The recent growth of Avalanche (AVAX) is covered in:

Solana (SOL) Slides Further as Avalanche (AVAX) Tops SOL By Market Cap

See original on DailyCoin

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02-02-2023 18:29:41 (UTC+7)

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128.80

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    EUR/USD 1.0994 ↑ Buy  
    GBP/USD 1.2323 ↑ Sell  
    USD/JPY 128.80 ↑ Sell  
    AUD/USD 0.7125 ↑ Buy  
    USD/CAD 1.3286 ↑ Sell  
    EUR/JPY 141.61 ↑ Buy  
    EUR/CHF 0.9999 Neutral  
    Gold 1,970.35 ↑ Buy  
    Silver 24.448 ↑ Buy  
    Copper 4.1567 ↑ Buy  
    Crude Oil WTI 76.46 ↑ Buy  
    Brent Oil 82.73 Buy  
    Natural Gas 2.487 ↑ Sell  
    US Coffee C 177.65 Sell  
    Euro Stoxx 50 4,218.25 Sell  
    S&P 500 4,119.21 Neutral  
    DAX 15,415.39 ↑ Buy  
    FTSE 100 7,810.87 ↑ Buy  
    Hang Seng 21,958.36 ↑ Sell  
    Small Cap 2000 1,960.81 Neutral  
    IBEX 35 9,241.14 Buy  
    BASF 53.330 Buy  
    Bayer 56.86 ↑ Sell  
    Allianz 221.80 ↑ Sell  
    Adidas 155.18 ↑ Buy  
    Lufthansa 9.816 Neutral  
    Siemens AG 144.01 Neutral  
    Deutsche Bank AG 11.965 ↑ Sell  
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