The developers behind Avalanche (AVAX/USD) upgraded AvalancheGo, which is essentially the software implementation of the blockchain within the Go Programming language, to what is now known as Banff 5.
Avalanche is essentially a cryptocurrency and blockchain platform known for its speed, scalability, and smart contract support. The network enables developers to build decentralized applications (dApps) on top of it and features multi-chain support.
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The Banff 5 upgrade as a catalyst for growth
In the latest crypto news, the Avalanche team announced Avalanche Wrap Messaging (AWM). Banff 5 (AvalancheGo v1.9.5) went live and now lets developers use high-performance, interoperable blockchain networks easily.
The new upgrade introduces a communication protocol built for Avalanche-based blockchains, which are known as subnets dubbed Avalanche Warp Messaging.
The main goal of this feature is to enable these subnets to share data as well as crypto assets with one another and enable seamless native communication between them. They can transfer assets or data across different subnets as a result of this.
This upgrade specifically eliminates the requirement for individual subnet projects to deploy or manage their own bridges, and the mechanism can also potentially open new use cases, such as cross-chain staking.
Should you buy Avalanche (AVAX)?
On December 23, 2022, Avalanche (AVAX) had a value of $11.803.
The all-time high of Avalanche (AVAX) was on November 21, 2021, at a value of $144.96.
Here we can see that at its ATH, the token was $133.157 higher in value, or 1,128% higher.
When we take a look at the 7-day performance, the high point of AVAX was at $12.61, while the low point was at $11.32. Here we can see a difference in the value of 10% or by $1.29.
When we go over the 24-day performance of the cryptocurrency, Avalanche (AVAX) saw its high point at $1188, while its low point was at $11.50. Here we can see a difference of $0.38 or by 3%.
With this in mind, AVAX can climb to $13 by the end of December 2022, which means that investors will want to take up the opportunity to buy AVAX.