Avalanche Foundation Targets $1 Billion in Funding, Boosts AVAX Price
- AVAX reached a seven-month high amid reports of the Avalanche Foundation seeking up to $1 billion in funding.
- Decentralized exchanges on the Avalanche network processed nearly $900 million in trading volume, the highest since March.
- Tokenized real-world assets on Avalanche have surpassed $450 million, marking a monthly increase of 139%.
- The foundation is in talks to establish two digital asset treasury companies (DATCOs) focused on AVAX tokens.
- Hivemind Capital and Dragonfly Capital are leading fundraising efforts, each aiming to raise $500 million.
The Avalanche Foundation’s initiative reflects a growing trend of DATCO launches across the cryptocurrency industry, which could enhance institutional interest in AVAX. The proceeds from these efforts will be used to purchase AVAX tokens at discounted prices, potentially strengthening the token’s market position.
If successful, this strategy may significantly boost AVAX’s valuation and extend its recent price rally following nearly $900 million in trading volume on decentralized exchanges.(Source)
