Avalanche Rides Broad Crypto Rally and Tokenization News

Avalanche (AVAX) rose 4.65% over the last 29 hours due to a broad risk-on move across crypto and altcoins, as well as positive tokenization news.

The total crypto market cap increased by about 3.75% to around $2.7 trillion, while the altcoin market cap excluding BTC rose by about 2.88% over the same period.

Avalanche's price move was modest but slightly above the broader altcoin basket, with a steady grind from $7.14 to around $7.42.

The tokenization news provided a clear narrative tailwind for Avalanche, as Securitize and Socios.com announced a partnership to launch regulated tokenized equity offerings on the Avalanche blockchain.