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Avalanche’s native token AVAX surged to a seven-month high following reports that the Avalanche Foundation is pursuing up to $1 billion in funding for dedicated treasury companies. The token gained nearly 9% in 24 hours, significantly outperforming other major cryptocurrencies. This momentum coincides with record trading volumes and growing tokenized asset deployments on the Avalanche network.
- Avalanche Foundation pursuing two separate $500M deals to establish treasury companies that would acquire AVAX tokens
- AVAX trading volume on decentralized exchanges hit $900M in past day, highest since March and 6th among all blockchains
- Tokenized real-world assets on Avalanche surged 139% in past month to exceed $450M, including BlackRock's BUIDL
📎 Related coverage from: cryptoslate.com
Other Tags: Anthony Scaramucci, BUIDL, Avalanche Foundation, DeFi, Dragonfly Capital, Nasdaq, SkyBridge Capital