Goldman Sachs Taps Avalanche for $100 Billion Treasury Fund Amid Price Decline

Avalanche's native token AVAX saw its price drop by 5.56% on September 28, despite significant institutional adoption on the network.

The decline came as Goldman Sachs announced that it would make its $100 billion Treasury fund available to institutional crypto firms through Lynq, a private, permissioned Avalanche Layer 1.

Lynq allows eligible firms to hold cash in Goldman's Treasury fund between trades and access Treasury-linked yield within their digital-asset workflow. The fund remains a traditional financial product, not being converted into a tokenized asset.

The recent sell-off in the price of AVAX cannot be said to overshadow the development in institutional adoption on the network. Rather, it appears that the two trends are independent and that the token's price movement reflects only the market's price discovery mechanism.