AVAX Breaks Through $7 Barrier Amid Growing Financial Asset Business

Avalanche's token price broke through the $7 barrier after weeks of attempts to clear this level. The move comes as more traditional financial assets are finding their way onto the network, with a recent Delphi Consulting report showing combined value at over $3 billion.

This is up significantly from last October, when the figure was around $740 million. A major contributor to this growth is Japan's Progmat, which moved its platform to Avalanche in June and brought about $1.2 billion in tokenized securities with it.

Other platforms are also experiencing growth on the network, including OpenTrade, which has seen its assets increase from around $60 million to $190 million, and Grove Finance, responsible for another $260 million through products linked to institutional credit.