This month, Avalanche shared details of its third major development after two big announcements. The newly announced ecosystem support program represents the latest step by the Avalanche team to close the gap with competitors. So, what are the details?
Avalanche and infraBUIDL()
The name of the support program might sound interesting; it seems they wanted it to be cool by using “name()” as it is used for functions and classes in programming languages. It was initiated to support those who contribute to the network’s development. The Avalanche Foundation aims to directly support developers with this initiative program.
“The infraBUIDL() Program is designed to enhance the Avalanche ecosystem by funding infrastructure projects that improve user and developer experiences. Through direct and milestone-based retroactive grants, the program aims to attract top-tier talent and build a developer community dedicated to advancing the Avalanche Network.”
There are many layer1, layer2, and even layer3 networks or different kinds of new things. Although the number of networks offering smart contract infrastructure is increasing daily, most investors are interested in the tokens or prices of these protocols or networks. However, Avalanche aims for long-term growth and seeks ways to bring more developers to the Avalanche network to expand its share in the smart contract space.
The goal of the Avalanche Foundation is to produce products in areas such as bridges, wallets, virtual machines, RPCs, indexers, token engineering, and many others. This way, large companies and users can use the Avalanche network alongside strong competitors like Ethereum.
AVAX Price Prediction
Grayscale launched an AVAX trust, and trillion-dollar Franklin integrated with the Avalanche network. These are very big news. However, Bitcoin is falling. Therefore, the AVAX price should also fall. And it is happening. After the recent good news, the altcoin price, which was expected to reach 29 and 32 dollars, is now lingering at 23 dollars.
The strong negativity in the overall market sentiment makes volatility unmanageable. And of course, we must not forget the double-digit annual inflation of AVAX. If the decline continues, we might witness a search for new support between 22.5 and 19.75 dollars. On the other hand, the safe zone is closures above 26 dollars.
