Avalanche surged after the New York Stock Exchange selected its blockchain technology to settle securities on a future tokenized platform. AVAX reached $8.60, up 5.2% over 24 hours after gaining as much as 10% on Monday, while trading volume jumped nearly 5.5-fold to $537 million. The network will provide the ledger infrastructure for the NYSE’s upcoming alternative trading system, which is designed to trade, clear and settle tokenized stocks and exchange-traded funds, potentially around the clock. The NYSE will retain its Pillar matching engine to process orders, while Avalanche will operate a dedicated network built around institutional requirements. The partnership strengthens Avalanche’s position against Nasdaq and the DTCC in tokenized financial infrastructure, but AVAX faces resistance at $9 and could lose support at $8.
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