AVAX Gains Momentum Amid Institutional Interest and Tokenization
- Avalanche (AVAX) surged by 17% in the past day, trading near $35.50.
- A $550 million treasury initiative by AVAX One aims to raise over $700 million in AVAX tokens.
- Institutional support includes more than 50 entities like Galaxy Digital and Kraken.
- Technical indicators show AVAX maintaining bullish momentum above the $32–$34 support zone.
- On-chain data reveals net inflows of $3.26 million on September 23, signaling accumulation.
Avalanche’s recent price surge is driven by institutional interest and a significant treasury initiative aimed at accumulating AVAX tokens, supported by major financial players. The token’s bullish momentum is reinforced by strong technical indicators and increased on-chain activity.
With its current trajectory, Avalanche could test higher resistance levels as institutional inflows continue to bolster its market position.( Source)
