(Kitco News) – Avalanche (AVAX) has become the latest altcoin to undergo a double-digit price breakout after it was revealed that Amazon Web Services (AWS) has partnered with Ava Labs to scale blockchain adoption for enterprises, institutions and governments.
The two companies announced the new partnership via a blog post on Wednesday, saying that the new collaboration “makes it easier for more people to launch and manage nodes on Avalanche, giving the network even more strength and flexibility for developers.”
Avalanche’s infrastructure and decentralized application (dApp) ecosystem are currently supported by AWS. Ava Labs now plans to add Subnet deployment as a managed service to the AWS Marketplace so both individuals and institutions can launch custom Subnets with just a few clicks, the blog said.
Ava Labs is also now a member of the AWS Partner Network (APN), which enables the firm to “help customers deploy custom offerings on AWS that are connected to more than 100,000 partners across more than 150 countries.”
Following the partnership announcement, the price of AVAX spiked 22.1% from a daily low of $12.27 to an intraday high of $15 before profit-taking dropped it to support at $14.58, where it currently trades.
AVAX/USD 4-hour chart. Source: TradingView
The 24-hour trade volume for AVAX surged 152% following the announcement and currently stands at $548 million.
Solana price trades near support at $16
Following last week’s rally in Solana (SOL) that saw the struggling layer-1 protocol more than double in price after positive remarks from Ethereum co-founder Vitalik Buterin, the price of SOL is now trading in a consolidation pattern near support at $16.
SOL/USD 4-hour chart. Source: TradingView
All told, SOL…
