Goldman Sachs Partnership Sends Avalanche Price Soaring

Avalanche's price surge was driven by a major institutional announcement around its use in Goldman Sachs' Financial Square Treasury Instruments Fund (FTIXX), according to recent reports.

The $100 billion fund, which is accessible through Lynq, an institutional settlement network built on Avalanche technology, saw AVAX jump to a six-month high of around $11.9 after the news broke.

Lynq already had over 30 institutional clients, including trading firms like Wintermute and Fireblocks, and the addition of FTIXX was seen as a major validation of Avalanche's institutional narrative.

The upward leg of AVAX's price move was largely powered by renewed institutional tokenization or settlement narrative around Avalanche, rather than broader market conditions.

However, the intraday drop that followed was driven by long liquidations, with over $650,000 worth of AVAX long positions being liquidated across Binance, Bybit, and OKX within a single hour on September 29, 2026.

This local unwind of aggressive longs caused a sharp but contained intrahour drop in price, which was attributed to the market structure dynamics rather than any new bearish development.