The AVAX token gained 4% following the announcement of a new partnership with the NYSE, while its market capitalization rose 2.8% to $3.8 billion. The NYSE plans to use Avalanche as the settlement ledger for its upcoming tokenized securities platform, which will support 24-hour trading of tokenized stocks across multiple blockchains, including a custom blockchain based on Avalanche. The launch remains in development and is still awaiting regulatory approval. Avalanche currently hosts $1.7 billion in tokenized assets and has surpassed 1.6 billion transactions, but the partnership does not necessarily translate into increased demand for AVAX. After falling more than 21% over the past month, the token trades at $8.54, with an important support area between $8.40 and $8.50.
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