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AVAXUSD Avalanche

27.68
0.760 (2.82%)
23:01:31 - Realtime Data
Name Symbol Market Market Cap ($) Algorithm
Avalanche AVAXUSD Crypto 10,424,498,192 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  0.760 2.82% 27.68 27.68 27.69
High Price Low Price Open Price Prev. Close 52 Week Range
28.87 26.67 26.91 26.92 8.62 - 65.38
Exchange Last Trade Size Trade Price Currency
GDAX 23:01:30 0.630492 27.68 USD
Price x Volume Volume Base Symbol Related Pairs
17,026,187.35 616,026.67 AVAX AVAXEUR AVAXGBP AVAXBTC

Avalanche Rising: Will The Wine Capital Fund Turbocharge Gains Above $40?

17/05/2024 3:00am

NEWSBTC


AVAX, the native currency of Avalanche, a high throughput blockchain, is rising, adding an impressive 9% from May 15 lows. Buyers are taking over after weeks of lower lows. While the expansion of Bitcoin prices could explain these gains, there could be more. Fine Wine Investment Fund Tokenized On Avalanche Avalanche has announced tokenizing a fine wine investment fund, a move that would see the platform ride on the wave of tokenization. In a statement, Avalanche said the Wine Capital Fund has been tokenized by Oasis Pro and listed on ATS via the Avalanche C-Chain, where smart contracts are deployed. Related Reading: Why Did The Bitcoin Price Rise Above $66,000 Today? The ATS is Oasis Pro’s trading platform registered by the United States Securities and Exchange Commission (SEC). Meanwhile, the capital fund is a “closed-end investment vehicle.” Specifically, it specializes in fine wines and is overseen by WIVX Asset Management. The decision to tokenize on Avalanche is a step forward in creating a tokenized asset ecosystem, mirroring progress made in Ethereum, among other chains.  By making inroads into the fine wines market, estimated to be worth over $400 billion, the platform aims to democratize access, making it available to more investors. Analysts claim tokenization removes barriers common in traditional finance. Notably, Avalanche will play a huge role since the network is scalable, boosting a high throughput with sub-second finality.  The number of real-world assets (RWA) being onboarded is rising. When writing, data from RWA.xyz reveals that over $7.6 billion worth of private credit has been tokenized. At the same time, months after announcing the deployment of the BUIDL fund on Ethereum, it manages over $381 million of tokenized United States treasuries. Efforts On Meme Coins, DeFi: Will AVAX Break $40? Avalanche is not only making progress in tokenization; earlier, they announced efforts to encourage meme coin activity on-chain. To do this, the Avalanche Foundation launched Memecoin Rush, a $1 million liquidity mining incentive program.  Related Reading: Red Alert For Bitcoin: Network Hashrate Takes A 20% Dive The model follows the Avalanche Rush program. The number of decentralized finance (DeFi) solutions deploying on the high throughput chain rapidly grew through this program.  As of mid-May 2024, DeFiLlama data shows that Avalanche DeFi protocols manage over $945 million. The number has shrunk by over 90% since November 2021, at over $10.9 billion. AVAX prices are stable at spot rates. However, with the coin finding support at $30 and printing a triple bottom, the path of least resistance appears northward toward $40 or higher. Feature image from UnSplash, chart from TradingView

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