AVAX positive change with Avalanche's latest security upgrade

The Avalanche [AVAX] network has seen several positive indicators in a short time. Finally, Platypus, a leading expert on Avalanche, introduced the ecosystem's first voting instruments. Since then, the platform has seen significant growth overall. But the question remains, can it sustain this upward momentum?

Creating havoc

The team behind the network has introduced a mandatory security upgrade effective September 5 on both Fuji and Mainnet. The head of engineering gave some insight into the social media platform here.


This upgrade is consistent with previous upgrades to strengthen Avalanche's reputation in general. Following this development, the community urges users/operators to do what is necessary.

However, operators may experience some errors after upgrading. In this regard, the operating engineer asserts,


“You may see some unrelated ERROR logs (“BAD BLOCK”) on your node after the upgrade. These can continue until Apricot's Phase 6 activation. This is not a sign you should downgrade your node. "

That being said, activity grew as well as trading volume saw an increase. Here is a chart where the increase in the activity index grew significantly more than that of the index.

Source: Santiment

Not only this, but even monthly transactions on the network have reached unprecedented levels Patrick Sutton, CEO of Ava Labs has confirmed that Avalanche reached an all-time high in monthly transactions last week.
Furthermore, Avalanche completed 32.7 million transactions in August and is still growing at press time according to the report. before.


It's not always sunny here.

Well, things are not so smooth in its ecosystem. Ava Labs, the creator of the Avalanche blockchain, allegedly engaged in paying lawyers to “attack and harm cryptocurrency organizations and projects that could compete with Ava Labs.” or Avalanche in some way”.

Needless to say, the allegations stirred controversy that led to the price drop.

Source: CoinMarketCap

Even so, Avalanche [AVAX] has broken into the top 20 cryptocurrencies by market cap, with the price trending at $18.53 since the moment. write this article.

However, the flagship has struggled to find its way back from the November 2021 highs of $135.

At press time, AVAX has suffered a fresh 2.5% correction as it trades around the $18.56 mark. To be fair, despite such positive developments, the price cannot reciprocate the same love.


Sep 06, 2022

0 0