Avalanche Crypto Approaches $12 as Tokenized Treasuries Surge

Avalanche (AVAX) cryptocurrency is making a strong comeback, rising by 3.6% on Tuesday to trade near $11.53. This puts AVAX close to the $12 mark, a level that buyers have struggled to surpass in recent attempts. The recent climb is supported by a significant increase in tokenized U.S. Treasuries on the Avalanche blockchain, although the token still needs to break through this price ceiling to aim for the $13 level.

The total value of tokenized U.S. Treasuries on the Avalanche network has surged to $545 million, marking a 14% increase during the third quarter and a fourfold rise from the same period last year. This growth was highlighted in a 6 October post by Avalanche, attributing the figures to real-world asset data platform RWA.xyz. Tokenized Treasuries enable investors to access U.S. government debt through blockchain-based products, adding more traditional financial assets to the Avalanche ecosystem.

Despite AVAX’s nearly 60% rally from its low around $7.23, the cryptocurrency faces resistance between $11.70 and $12. Previous attempts to break above this area have been unsuccessful, and another rejection could lead to sideways movement or profit-taking. However, a breakout above $12 could shift the scenario, potentially pushing AVAX toward the $13 mark. Key support levels to watch are $10.40 and $10.50, where buyers may re-enter during a pullback. A drop below these levels could lead to a deeper correction.

For now, AVAX remains in a favorable position, with a rising trend and growing network adoption. The critical question is whether buyers have enough momentum to turn the $12 resistance into support.