Avalanche (AVAX) advanced on Tuesday after the New York Stock Exchange (NYSE) chose its blockchain technology to handle settlement for an upcoming tokenized securities platform. The partnership places Avalanche in an important position as Wall Street moves toward adopting blockchain-powered financial infrastructure.
AVAX rose to $8.60, marking a 5.2% gain over the previous 24 hours. The cryptocurrency had briefly touched $8.99, bringing the closely watched $9 resistance level back into focus.
Market activity also accelerated significantly. Avalanche’s 24-hour trading volume reached $537 million, representing an increase of nearly 448% compared with the previous day. The latest gains followed Monday’s rally, when AVAX surged as much as 10% and outperformed most leading cryptocurrencies.
NYSE Chooses Avalanche for Tokenized Securities Settlement
Avalanche is set to supply the core ledger infrastructure for the clearing firm behind the NYSE’s planned digital alternative trading system (ATS). The platform is being developed to enable round-the-clock trading, clearing, and settlement of tokenized securities. Its eventual offerings could allow investors to trade tokenized U.S. stocks and exchange-traded funds beyond conventional market hours.
Avalanche will deliver the underlying blockchain infrastructure through a dedicated network designed to meet institutional requirements. The NYSE, however, will continue using its existing Pillar matching engine to handle buy and sell orders.
The selection highlights Avalanche’s increasing appeal to traditional financial institutions looking for more efficient and flexible settlement solutions.
The development comes as major financial market operators accelerate their tokenization efforts. Nasdaq is working on its own infrastructure for tokenized securities, while the Depository Trust & Clearing Corporation (DTCC) is also pushing forward with blockchain-based settlement projects.
By securing a role in the NYSE’s initiative, Avalanche gains a notable advantage in the growing competition. The exchange operates one of the world’s largest stock markets, making its decision a significant vote of confidence in Avalanche’s blockchain technology.
Discover: The Best Token Presales
AVAX Price Tests $9 as Trading Volume Surges
AVAX is nearing an important technical threshold following Monday’s sharp advance. The token climbed from an intraday low of approximately $7.82 to a high near $8.99, bringing the $9 mark close to a potential breakout.
A sustained move above this level could put the next resistance zone around $9.10 in focus.
The surge in trading volume offers another positive indication, pointing to renewed investor interest following the NYSE announcement. If buying pressure remains strong and AVAX establishes support above $9, the recovery could continue toward higher resistance levels. On the downside, $8 represents the first major psychological support if traders begin locking in profits.
The price recovery also reflects Avalanche’s broader efforts to expand its presence in institutional finance. Its blockchain infrastructure is increasingly competing with established networks as financial institutions explore opportunities in tokenized assets.
The NYSE partnership adds significant credibility to that strategy. Avalanche is not merely gaining another cryptocurrency industry collaboration; it is becoming part of the infrastructure plans of a major traditional stock exchange.
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