Avalanche price eyes 90% rally as tokenization demand lifts AVAX

Key takeaways

• AVAX surged nearly 50% in one week, reaching an eight-month high of $10.82 on Sunday.
• Institutional tokenization developments involving ICE, New York Life Investment Management, Aave and Janus Henderson have boosted sentiment.
• Avalanche’s Helicon upgrade is scheduled for Sept. 22 and will reduce the minimum staking period from 14 days to 48 hours.

Avalanche’s AVAX token has climbed nearly 50% over the past week, reaching an eight-month high of $10.82 on Sunday as institutional tokenization developments renewed demand for the cryptocurrency.

One of the rally’s leading catalysts involves Intercontinental Exchange, the parent company of the New York Stock Exchange. ICE has reportedly spent about a year testing Avalanche as it explores infrastructure for round-the-clock trading of tokenized U.S. stocks and exchange-traded funds.

ICE has not selected Avalanche or announced a commercial partnership. However, Ava Labs President Charley Cooper said the company remains actively engaged with the network.

The development...