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BTCUSD Bitcoin

67,594.39

112.73 (0.17%)

08:46:55 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,327,428,122,942	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	112.73	0.17%	67,594.39	67,589.28	67,594.20

High Price	Low Price	Open Price	Prev. Close	52 Week Range
67,756.76	67,371.28	67,502.32	67,481.66	24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:46:55	0.000703	67,594.39	USD

Price x Volume	Volume	Base Symbol	Related Pairs
47,587,273.79	704.04	BTC	BTCEUR	BTCGBP	ETHBTC

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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