AVAX cryptocurrency has been touted as the next “Ethereum Killer” for a long time because of its scalability and faster transaction speed.
Apart from these features, AVAX crypto is also compatible with Ethereum smart contracts, which give weight to its credentials.
But some people still doubt whether the AVAX blockchain will be completely functional in terms of performance when the load is heavy.
But despite this doubt, AVAX crypto has been bought by Luna Foundation Guard and Terraform Labs, which are looking to diversify the complete network strategy.
Terraform Labs and the Luna Foundation Guard have bought 0.25 billion worth of Avalanche (AVAX) tokens.
The decision to invest in AVAX has been made due to a sudden rise in AVAX’s growth in the past few months.
Seeing the rise, Lunda Foundation Guard acquired $100M in AVAX by exchanging it for Terra’s own token LUNA.
Terraform Labs founder Do Kwon talked about Ethereum in a condescending tone. He said that the Avalanche ecosystem is still growing, and its average users are more aligned with it than the average ETH user.