Avalanche (AVAX), the token that powers the blockchain of the same name, has risen 6.9 percent in the past 24 hours and is currently trading at a weekly high of $13.65, according to CoinGecko.

With a market value of $4.23 billion, AVAX is currently the 20th largest crypto-asset on the market.

The rapid rise in prices is likely due to Tuesday’s release of the mobile version of Core, Ava Lab’s flagship multichain wallet, which is designed to connect DeFi, NFT and gaming ecosystems across Avalanche, Bitcoin and Ethereum, as well as other EVM-compliant blockchains.

Avalanche’s main wallet goes mobile with launch on Android

The price of AVAX rose sharply as soon as the announcement was made public, hitting a daily high of $14.07 before rolling back to current levels.

Other notable events that may have had a positive impact on the asset’s price include Coinbase launching the ability to trade USDC stablecoin on Avalanche.

The Avalanche team praised the move, saying it creates “the fastest and least expensive way to move from cash to DeFi’s flagship applications such as Aave, Curve, Trader Joe’s, BENQI and more.”