Avalanche gains 20% in hours after Amazon partnership announcement Avalanche gains 20% in hours after Amazon partnership announcement
By joining the AWS Partner Network, Ava Labs will be able to deploy products with more than 100,000 partners worldwide.
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Updated: Jan. 12, 2023 at 12:32 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Avalanche (AVAX) grew by 20% in a few hours after Ava Labs’ partnership with Amazon web Services went live.
According to reports, the partnership will help scale blockchain adoption across enterprises, institutions, and governments. With Ava Labs joining the AWS Partner Network (APN), it can deploy products on AWS with more than 100,000 partners worldwide. Howard Wright, VP and global head of startups at AWS, said:
โLooking forward, web3 and blockchain is inevitable. No one can call the time or date or quarter that itโs going to happen and itโll be mainstream, but weโve seen the cycles of growth before.โ
Moreover, AWS will support Avalanche’s DApp ecosystem, along with one-click node deployments, through its marketplace. Ava Labs will join AWS Activate, a program for startups and early-stage entrepreneurs.
โThis is the beginning of something much, much bigger,โ John Wu, president of Ava Labs, said, adding that the Subnets will allow developers โto spin up their own blockchain, a full blockchain, in Amazon very easily.โ
With the AWS-Avalanche collaboration, more people will be able to launch and manage Avalanche nodes, increasing the network’s flexibility and strength, according to reports. Avalancheโs total volume currently stands at $458,893,881 – up 88.75% in 24 hours.
The AWS website notes that about 25% of all Ethereum workloads run on AWS – which is already being used by several blockchains.
Avalanche Market Data
At the time of press 12:32 am UTC on Jan. 12, 2023, Avalanche is ranked #17 by market cap and the price is up 24.62% over the past 24 hours. Avalanche has a market capitalization of $4.94 billion with a 24-hour trading volume of $886.29 million. Learn more about Avalanche ›
Crypto Market Summary
At the time of press 12:32 am UTC on Jan. 12, 2023, the total crypto market is valued at at $879.65 billion with a 24-hour volume of $39.06 billion. Bitcoin dominance is currently at 39.26%. Learn more about the crypto market ›
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Soumen Datta
Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects.
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