**Avalanche Raises $250M Ahead of Major Network Upgrade**

Avalanche, a leading layer-1 blockchain, has secured $250 million in a private token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital. Over 40 companies participated, including SkyBridge and Morgan Creek Digital.

This funding boost comes as Avalanche prepares for its significant "Avalanche9000" network upgrade, set to launch on Dec. 16. The upgrade promises to revamp subnet operations and enhance interchain communication.

Currently, Avalanche's treasury holds around $3 billion in AVAX tokens, with the token trading at $54.11, up 13% in the last 24 hours.