Republic aims to leverage Avalanche’s features for global scalability.Republic Note has already attracted over $30 million in pre-sale participation.The move could potentially help stop the current #AVAX price drop.Investment platform Republic has selected Avalanche as the blockchain for its Republic Note token.The move is part of Republic’s strategic vision to leverage Avalanche’s strengths for global scalability.What is Republic Note :Republic Note allows investors to earn returns from a diverse portfolio of over 750 private assets. The digital asset, not yet deployed to the mainnet, has already garnered significant interest, with over $30 million in pre-sale participation from individual and institutional investors.Republic President Andrew Durgee highlighted Avalanche’s role in providing the foundation needed for Republic Note to reach a global audience of investors. The choice of Avalanche is strategic, considering its innate features, including the ability to set up controllable subnets. These subnets, highly customizable side chains, play a crucial role in optimizing for regulatory compliance associated with being a digital security.Republic’s profit-sharing approach :Republic Note is designed to share profits generated from Republic’s extensive venture portfolio with investors. It plans to distribute up to 25% of the dividend pool to token holders, emphasizing a profit-sharing model.The token’s price during the pre-sale round was $0.36, with a total supply capped at 800 million.A potential boost for AVAX price :Republic’s move to launch Republic Note on Avalanche could have implications for #AVAX price. The strategic partnership between Republic and Ava Labs and Republic Note’s unique profit-sharing model might instil confidence in AVAX investors, potentially mitigating further price declines.AVAX price today plummeted to a low of $20.18 losing more than 10% in value before the Republic Note announcement was made. After the announcement, the price recovered about 3% with the price rising to $20.52 at press time.

The cryptocurrency market saw a downturn on Friday, with the total market capitalization dropping to $1.38 trillion. #Bitcoin, the leading digital currency, decreased by 2.66% to $36,493.07, and #Ethereum, the second-largest cryptocurrency, fell by 3.50% to $1,982.92.Bitcoin’s market cap dropped to $713.24 billion, while Ethereum’s market cap was at $238.45 billion following a significant decrease of $76 from its token value. Despite the market slump, some cryptocurrencies experienced profits. Dogecoin rose by 6.67%, and Tether stayed stable at $1. Binance USD saw an increase of 3.27%, trading at $252.9997.Solana, although it suffered a 9.24% drop on Friday, had a weekly gain of 25.09%. Similarly, Polkadot experienced a daily decrease of 2.26% but had a weekly increase of 6.38%. Other altcoins like XRP and Cardano also faced declines.DeFi tokens such as Avalanche and Chainlink, and NFT tokens such as Internet Computer and Theta Network, all underwent price fluctuations. The market volume over the last 24 hours was reported at $71.62 billion, showing a 6.3% increase from the previous day. However, meme currencies like Shiba Inu fell by 1.86% to $0.000008622 per token.BlackRock (NYSE:BLK)’s pending Ethereum ETF application has had a positive influence on market sentiment toward Ethereum, despite the current price correction phase that experts suggest could lead to new highs or further declines.This article was generated with the help of AI and reviewed by an editor. For more information see our T&C$BTC $ETH

Tether ,the issuer of the largest stablecoin by market cap (USDT), plans to invest half a billion dollars to establish itself as a relevant player in Bitcoin (BTC) mining. This bold move aims to propel Tether to the forefront of the Bitcoin mining industry.As reported by Bloomberg on November 16, Tether intends to invest the funds over the next six months. The stablecoin giant seeks to diversify its revenue streams and reduce market dependence on the USDT token. This strategic expansion presents new opportunities amidst the ongoing scrutiny over stablecoins.Interestingly, BlackRock Inc. (NYSE: BLK) mentioned USDT in its risk disclosure for the spot Bitcoin ETF. This described exposure is one example of the challenges Tether faces with its stablecoin’s reputation and business dependency.The company’s foray into Bitcoin mining follows the industry’s increased attention to the sustainability of mining operations. Tether asserts its commitment to environmentally friendly practices but does not disclose specific details on the technology or specific locations for its mining operations.