Avalanche (AVAX) has experienced significant attention and a 101% upside movement in the last 30 days, securing a spot in the top 10 cryptocurrencies by market capitalization. This surge has outperformed various major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC), and Polkadot (DOT).
As of the current writing, AVAX is trading near $26.20, with a nearly 20% gain in the last 24 hours. The primary catalyst behind this substantial surge is Avalanche being selected as the main platform for issuing IEEE certificates.
The Institute of Electrical and Electronics Engineers (IEEE), a prominent professional association, has partnered with LegitDoc to use the Avalanche blockchain for issuing secure certificates in India. This move towards blockchain technology aims to enhance the verification process for certificates, providing tamper-proof, instant, and secure credentialing.
Avalanche's C-Chain was chosen as the primary settlement layer due to its compatibility with the Ethereum Virtual Machine (EVM). This compatibility facilitates the deployment of widely used applications such as credential registries and identity management. Neil Martis, co-founder of Zupple Labs, and Devika Mittal, head of Avalanche’s India arm, endorsed the decision, emphasizing Avalanche's EVM compatibility and its preference by other top institutions.
As a result of these developments, AVAX achieved a new 52-week high, hitting the $26.96 level on December 6, 2023, for the first time since August 2022.