Avalanche reached its all-time high on Thursday, jumping almost 30% in less than 24 hours.

And while surges like this aren’t uncommon among high market-cap cryptocurrencies, Avalanche’s rally is unique as the token defied the overall market downfall.

Strong on-chain activity and ambitious partnerships are behind Avalanche’s rally

Launched in September 2020, Avalanche has had a hugely successful year behind it. The fast-finality smart contracts platform prides itself on offering transaction finalization in under one second and has attracted a significant number of developers and dApps.

Its 2021 rally culminated this week with an almost 30% increase that defied the wider market downfall. Its native cryptocurrency, AVAX, saw its price jump from $87 to $110 in just over $24 hours, while Bitcoin dipped dangerously below its $60,000 resistance.

The rally was partly fueled by news of Avalanche’s latest partnership—earlier this week, the platform announced that it has formed a strategic alliance with Deloitte, one of the “Big Four” accounting firms. According to the company’s announcement, Deloitte will leverage Avalanche’s blockchain platform to launch a new disaster recovery platform to help state and local governments easily demonstrate their eligibility for federal emergency funding.

1/ Ava Labs is thrilled to announce its partnership with @Deloitte to build more efficient disaster relief platforms using the Avalanche blockchain.

This effort combines the speed, resilience and adaptability of Avalanche, and Deloitte's Fortune 100 enterprise knowledge.