AVAX Soars 15% on Scaramucci Endorsement, $700M Plan

The primary catalyst for AVAX’s double-digit surge was the announcement that Anthony Scaramucci, the former White House communications director and prominent financier, will lead the strategic advisory board of Avax One. This entity is the rebranded version of the Nasdaq-listed company AgriFORCE Growing Systems. The company’s ambitious strategy involves accumulating over $700 million in AVAX tokens, a move that signals significant institutional confidence in the Avalanche ecosystem. Scaramucci publicly endorsed the blockchain protocol on his social media, stating, “Proud to serve as Advisory Chair and see real-world assets, fintech, and insure-tech brought on-chain. The future of finance is programmable, transparent, and digital.”

In an interview with CNBC, Scaramucci elaborated on his bullish stance, positioning layer-1 blockchain protocols like Avalanche, Ethereum (ETH), and Solana (SOL) as the foundational technology for the future of tokenization. He specifically praised Avalanche’s multi-chain architecture, describing it as “a Swiss army knife of layer-1s that allows a lot of flexibility.” This endorsement from a well-known figure in traditional finance provided a powerful vote of confidence that resonated strongly with investors, distinguishing AVAX’s performance from other major altcoins like Chainlink (LINK) and Hyperliquid (HYPE), which failed to gain momentum.

AVAX’s 15% gain stands in stark contrast to the general malaise gripping the cryptocurrency market. Following a sharp correction on September 22, most leading digital assets have either maintained their depressed levels or registered mild declines. Against this bleak backdrop, Avalanche’s sharp upward move allowed it to climb the market cap rankings, surpassing established projects and securing the 13th position globally. The token’s ability to rally independently underscores the market’s reaction to project-specific, fundamental news rather than broader sector sentiment.

The price surge on a 24-hour scale highlights a concentrated inflow of capital specifically into the Avalanche ecosystem. While the entire market cap of the crypto sector struggled, AVAX’s valuation jumped to $15 billion, demonstrating that well-articulated strategic partnerships and substantial financial commitments can create powerful tailwinds even in a challenging macro environment for digital assets.

The positive sentiment extends beyond the immediate news cycle, with several market analysts forecasting continued momentum for AVAX. Analyst Broke Doomer expressed optimism, suggesting the token “is looking good to buy right now,” while Jesus Martinez predicted a rise to a multi-year high above $100. These predictions point to a belief that the current rally is not merely a short-term spike but could be the beginning of a sustained upward trend.

Adding weight to these technical forecasts are reports of significant whale activity. Market observer Henryoutlined noted that large investors have shifted their focus to AVAX, “gambling like they know something that we don’t.” He highlighted two mysterious investors who spent substantial sums to open large long positions, indicating strong conviction from deep-pocketed traders. Another analyst, CryptoDoc (Gem Hunter), set a near-term price target of $50, adding, “We HODLing AVAX till Q4.” This collective analyst outlook, combined with the Scaramucci-backed fundamental development, creates a compelling narrative for further price appreciation.