This Crypto Just Partnered With Amazon. Time to Buy?
Don't look now, but Avalanche (CRYPTO: AVAX) -- a once high-flying crypto that collapsed by more than 90% in 2022 -- is making a comeback this year. In mid-January, Avalanche announced a major partnership with Amazon (NASDAQ: AMZN) that will essentially make it the default blockchain of choice for any client of Amazon Web Services (AWS). Avalanche is now the first blockchain to partner with Amazon's cloud computing platform.
To say that this is a big deal is an understatement. In the first 24-hour period after the deal was announced, the price of Avalanche jumped by more than 13%. More gains could be on the way over the long term if Avalanche fully realizes the plan to help bring blockchain solutions to businesses and governments around the world.
One of the most interesting aspects of the partnership is that Amazon chose to partner with Avalanche and not Ethereum, which would have been the obvious choice. When it launched back in September 2020, Avalanche was billed as an "Ethereum killer," due to its superior speed and scalability. But last year was not kind to this upstart blockchain, so this announcement from Amazon was definitely surprising.
Source Fool.com
