Avalanche soars to new highs after Deloitte adoption — But risks emerge for AVAX price

Avalanche soars to new highs after Deloitte adoption — But risks emerge for AVAX price


Avalanche (AVAX) rose to a new price high on Nov. 18 and posted weekly gains after its developer, Ava Labs, entered a partnership with “Big Four” accountant firm Deloitte.

The AVAX price reached a little over $110 after rising circa 16% week-to-date (WTD), with its circulated market cap hitting $23.76 billion, almost 0.93% of the total crypto market cap.

In contrast, AVAX’s top rival tokens, including Bitcoin (BTC) and Ether (ETH), fell by over 13% and 12.50% WTD, respectively. 

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Top 15 crypto tokens and their performance in the past seven days. Source: TradingViewAVAX adoption FOMO

AVAX picked its bullish cues from Deloitte’s decision to use the Avalanche blockchain for building a disaster relief platform.

The deal, according to Avalanche’s founder Emin Gün Sirer, would “help state and local governments

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