by Coinstrooper Crypto Articles
Quick Take
  • The move gives Avalanche a significant role in Wall Street’s push toward blockchain-based financial infrastructure.
  • AVAX price reached $8.60, gaining 5.2% over 24 hours.
  • The token had climbed as high as $8.99, putting the psychological $9 resistance level back within reach.
  • Avalanche recorded $537 million in 24-hour trading volume, an increase of nearly 448% from the previous day.

What Happened

Trading activity also picked up sharply. Avalanche recorded $537 million in 24-hour trading volume, an increase of nearly 448% from the previous day. The announcement followed a rally of as much as 10% on Monday, when AVAX outperformed most major coins.

Avalanche would provide the core ledger technology for the clearing firm supporting NYSE’s upcoming digital alternative trading system (ATS). The platform aims to support 24-hour trading, clearing, and settlement of tokenized securities. Investors could eventually trade tokenized US stocks and exchange-traded funds outside traditional market hours.

The announcement shows Avalanche’s growing appeal among traditional financial institutions seeking faster and more flexible settlement infrastructure.

NYSE’s decision gives Avalanche a prominent position in that competition. The exchange operates one of the world’s largest stock markets, making the partnership a significant endorsement of Avalanche’s technology.

Trading volume provides another encouraging signal. The sharp increase suggests renewed interest in AVAX as investors react to the NYSE announcement. If buyers maintain momentum above $9, Avalanche could extend its recovery toward higher resistance levels. Conversely, $8 remains the first important psychological support if traders take profits.

The NYSE announcement gives that narrative considerable weight. Rather than simply attracting another crypto partnership, Avalanche has secured a role in the infrastructure plans of a major traditional stock exchange.

Market Context

AVAX price reached $8.60, gaining 5.2% over 24 hours. The token had climbed as high as $8.99, putting the psychological $9 resistance level back within reach.

Avalanche Price Targets $10 as Bulls Return

AVAX price is approaching a critical technical level after yesterday’s explosive rally. The token climbed from an intraday low near $7.82 toward $8.99, putting $9 within striking distance. A decisive breakout could open the door toward $9.10, the next resistance area.

The rally also arrives as Avalanche works to strengthen its position in institutional finance. Its blockchain infrastructure is increasingly competing for attention alongside established networks seeking to capture the growing tokenized asset market.

Why It Matters

Avalanche (AVAX) climbed on Tuesday after the New York Stock Exchange (NYSE) selected its blockchain technology to power settlement for a new tokenized securities platform. The move gives Avalanche a significant role in Wall Street’s push toward blockchain-based financial infrastructure.

NYSE Selects AVAX for Tokenized Stock Settlement

Details

Avalanche will provide the underlying blockchain infrastructure through a dedicated network built around institutional requirements. Meanwhile, NYSE will retain its existing Pillar matching engine to process buy and sell orders.

The timing is particularly interesting as Wall Street increasingly explores tokenization. Nasdaq is developing its own tokenized securities infrastructure, while the Depository Trust & Clearing Corporation (DTCC) is advancing blockchain-based settlement initiatives.

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