AVAX surged over 8% to $8.86 after the NYSE confirmed it will use the Avalanche blockchain to settle trades on its planned tokenized stock platform, with the network's TVL also rising 4% to $633 million.
The NYSE selected Avalanche's blockchain to record and settle trades on its planned tokenized stock trading platform, a major institutional validation confirmed on Monday. AVAX jumped as much as 10%, later easing to $8.86, still up over 8% on the day. A platform launch before end-2026 hinges on regulatory approval, which tempers the longer-term outlook.
Avalanche's AVAX token climbed as much as 10% on Monday after the New York Stock Exchange announced it will utilize the blockchain to record and settle trades on its upcoming tokenized stock platform. While the token later eased to $8.86, it remains up over 8% as the market reacts to the institutional validation. The platform, which aims to facilitate around-the-clock trading, is targeted for a potential launch before the end of 2026 pending regulatory approval.
The New York Stock Exchange picked Avalanche's blockchain to record and settle trades on its planned platform for around-the-clock trading of tokenized stocks, and the token rose as much as 10% on the day.
The trading platform still needs regulatory approval before it can launch, potentially before the end of 2026, and the token had already eased back from its intraday high to $8.86, up over 8%.