Crypto
AVAX Surges on Institutional Partnerships and Platform Expansions
Avalanche (AVAX) has seen its price surge by 7.19% in a day, reaching $8.1 and trading above key moving averages.
The addition of AVAX and Avalanche-native USDC to the regulated Paxos platform has expanded reach to over 650 institutions and 470 million users.
New York Life Investment Management launched a tokenized high-yield bond fund on Avalanche, and Janus Henderson joined as a network validator, further solidifying institutional partnerships.
Technical analysis suggests that AVAX is trading with strong upward momentum but may consolidate between $7.76 to $8.24 over the next two to three days.