Avalanche (AVAX) flips Shiba Inu after hitting new all-time high of $128

Avalanche blockchain network native token AVAX has surpassed Shiba Inu (SHIB) in terms of market capitalization. AVAX has flipped the popular memecoin to become the 11th biggest digital asset in value.

Currently, the market cap of AVAX stands at over $27 billion, compared to SHIB’s $25 billion. The flipping comes after a bullish momentum in the price of AVAX in the last few days since Ava Labs, the team behind Avalanche blockchain, announced a partnership with “Big Four” accounting firm Deloitte.

Emin Gun Sirer, founder of Avalanche and CEO of Ava Labs made the announcement on November 16. Sirer stated that the strategic partnership aims to build more efficient disaster support platforms using the Avalanche blockchain.

According to reports, the news is deemed to be very bullish for the adoption of Avalanche. As per CryyptoSeq, a pseudonymous crypto analyst on Twitter, the fact that Deloitte is choosing Avalanche for the partnership is a sign of greater things to come.

AVAX is currently trading at an all-time high of over $126 on the CoinMarketCap on the back of news of its partnership with accounting firm Deloitte. Note that the Avalanche network has been growing since the blockchain launched last year.