Demex Daily #304: Avalanche Raises $250M for Avalanche9,000 Upgrade

What’s Interesting Today:

Avalanche has raised $250 million in a token sale ahead of its Avalanche9,000 network upgrade, aimed at reducing deployment costs by 99.9% and simplifying the development of app-specific blockchains. The sale, led by Galaxy Digital, Dragonfly, and ParaFi Capital, involved over 40 venture capital firms. Avalanche9,000, set for early 2025, will enhance scalability and blockchain efficiency, with more than 500 L1s in development. Additionally, a $40 million incentive program, Retro9,000, will support builders. The AVAX token has recently seen a 10% price increase. 

Trade AVALANCHE AVAX-PERP on Demex

Grayscale launched two new investment funds for Lido (LDO) and Optimism (OP) tokens on December 12. The Grayscale Lido DAO Trust and Grayscale Optimism Trust offer exposure to Ethereum’s largest liquid staking protocol and a popular layer-2 scaling solution, respectively. These funds aim to increase Ethereum’s scalability, security, and adoption within DeFi. Lido has nearly $40 billion in TVL, while Optimism has around $800 million. Grayscale, with nearly $35 billion in assets, continues expanding its crypto fund offerings, including products for Aave and additional altcoins.

Trade OPTIMISM OP-PERP on Demex