AVAX Gains 17%, Targets $50 Amid Treasury Inflows and Tokenization
Avalanche (AVAX) has gained 17% in the past 24 hours, trading near $35.50, driven by whale demand, a $550 million treasury initiative, and rising interest in real-world asset tokenization.
- AgriFORCE Growing Systems rebranded to AVAX One, the first Nasdaq-listed entity centered on Avalanche, aiming to raise $550 million.
- Supported by over 50 institutions including Galaxy Digital and Kraken, increasing its institutional adoption.
- Anthony Scaramucci joined as an advisor, reflecting Wall Street's confidence in Avalanche’s asset tokenization potential.
Technical Analysis
- AVAX broke key resistance levels while staying above the $32–$34 support zone, supported by the 20-day EMA at $30.43.
- RSI is around 71, indicating slightly overbought conditions; $37 is identified as the next resistance level.
Market Momentum
- On-chain data shows net inflows of $3.26 million on September 23, with futures open interest nearing $1.8 billion.
- Avalanche's role in tokenization, tested by companies like Apollo and JPMorgan, supports its growth trajectory.
- If AVAX surpasses the $37–$40 resistance, it could reach $47–$50 soon, bolstered by institutional inflows and tokenization demand.