Avalanche (AVAX) Hits All-Time High Entering top-Ten Spot, Deloitte Adoption Fuels Rally

On Sunday, November 21, altcoin Avalanche (AVAX) peaked at a new all-time high of $146.22. The skyrocketed price of the altcoin crept into the top ten digital asset market valuations, with the market capitalization exceeding a staggering $31.5 billion. As of press time, AVAX is trading at $135.

The decentralized network's native token is competing with Dogecoin and Shiba Inu for market capitalization and dominance. However, at present, Avalanche has overtaken both its competitors in market cap. The statistics indicate that AVAX has climbed 46.9% in seven days and 83% in two weeks, over 133% during the last three months, and year-to-date, AVAX is up 3,795%.

Recently, the Avalanche network shared news of its newfound strategic alliance partnership with Deloitte, one of the Big 4 consulting firms. Deloitte, with technology firm Ava Labs using Avalanche blockchain, will enable a new disaster recovery platform to help state and local governments easily demonstrate their eligibility for federal emergency funding. The project Close as You Go (CAYG) will help to enable disaster victims to obtain faster reimbursements. 

Alex Haseley, the leader in the Government & Public Services (GPS) crisis management practice, said, "Our new Close As You Go (CAYG) platform can play a critical role in helping these leaders be prepared to aggregate and validate the documentation necessary to demonstrate eligibility for funding and reduce the risk of adverse audit findings down the road."

Utilizing the AVAX blockchain, the cloud-based platform would provide state and local officials with a "decentralized, transparent and cost-efficient system".  This will empower grantmakers and funding recipients simultaneously "minimizing fraud, waste and abuse."

Avalanche's blockchain technology will provide a secure environment to quickly gather processes and authentications along with required documentation, which will eventually result in improving the accuracy of federal disaster claims. Moreover, it is also an eco-friendly platform, which promises to green technology.

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. It aims to feature multiple chains, with some performing core functions while others being more application-specific, while all subnets (non-core blockchains) must depend on three base platforms validators. ( dubbed P-Chain, X-Chain, and C-Chain.)