AccordingAva Labs, according to Bloomberg’s Thursday report, is on track to raise a fresh round of funding worth $350million at a value of $5.25billion. The agreement details have not yet been disclosed. Ava Labs was the principal developer for the ().AVAX) blockchain.

AVAX’s total value, or TVL on AVAX, currently stands at $14.6 billion. As perData from DeFi Llama. Decentralized finance or DeFi is the borrowing and lending protocol Aave, which accounts for 33.72% on the blockchain’s market share.