Goldman Sachs Enters Digital-Asset Market with $100 Billion Treasury Fund, AVAX Price Slips
Goldman Sachs' entry into the digital-asset market through its $100 billion Treasury fund, FTIXX, has sparked interest in the AVAX price. Despite this development, the token's value fell by 5.56% to around $10.30 on September 28.
The Treasury fund is being made available through Lynq, a private, permissioned Avalanche Layer 1 that caters to more than 30 institutional digital-asset firms. This integration allows eligible customers to hold cash in the fund between trades and access Treasury-linked yield within their digital-asset workflow.
The recent sell-off in AVAX's price cannot be said to overshadow the growth of institutional infrastructure on the network. In fact, it appears that the two trends are independent, with the token's price movement reflecting only the market's price discovery mechanism.