AVAX Surges 20% Amid Tokenization Buzz and Market Uptrend

Avalanche's native token AVAX surged by nearly 20% in the past 24 hours, reaching $9.76 on September 19, 2026.

The price increase follows several developments related to tokenization activity on the Avalanche network, including New York Life Investment Management's announcement that it will bring its first tokenized fund to Avalanche through Centrifuge.

This move represents a significant milestone for the asset manager, which oversees $807 billion in assets. The AVAX price momentum also coincided with the cryptocurrency market turning positive on Saturday, with total market capitalization rising by over 4% to approximately $2.88 trillion.