Avalanche Surges 10-12% After Goldman Sachs Partnership

Avalanche's price surged after Goldman Sachs made its $100 billion Financial Square Treasury Instruments Fund (FTIXX) accessible via Lynq, an institutional settlement network built on Avalanche technology.

The news drove AVAX to a six-month high of around $11.9, with the asset jumping 10-12% in 24 hours.

However, the upward momentum was short-lived, as a sharp intrahour drop pulled the price back down to around $11.17, resulting in a net 24-hour change of -3.66% for AVAX.

The downward leg of the price move is attributed to long liquidations and profit taking after the news-driven spike, rather than any new bearish developments specific to Avalanche.