With the NYSE news breaking, AVAX became one of the few major coins bold enough to move against ETH tonight.
The story itself is pretty straightforward: around 9 p.m. Beijing time, Ava Labs announced that Avalanche would serve as the core ledger for the clearing and settlement layer of a tokenized securities platform affiliated with the NYSE. After the news broke, AVAX climbed from just over $8 to around $9, gaining nearly 9% in 24 hours, with trading volume at roughly $470 million. At the same time, ETH was down more than 4%, hovering around $2,150.
ONDO moved along with it, gaining more than 6% over 24 hours to around $0.38. Tonight, the NYSE put tokenized U.S. stocks on the map.
There are two details, though, that I think are worth looking at calmly.
First, the announcement makes it clear that the platform still needs regulatory approval. It will also support stocks issued on multiple blockchains, with Avalanche handling bookkeeping and settlement—not acting as the exclusive chain. The news is genuinely positive, but there’s still a ways to go before it becomes reality.
Second, past experience has taught me that when news of a major institutional partnership breaks, the initial rally that night is often driven by short sellers getting squeezed. The real test comes the next day. For AVAX, around $9.20 is the level it failed to break through during its previous rebound, while $8.30 is the top of the range it was trading in before the news.
My plan is not to chase it tonight. Tomorrow, I’ll be watching two things: first, whether it can break above $9.20 on strong volume; and second, if it pulls back, whether $8.30 holds. If it holds, I might consider following with a small position. If it drops back below, I’ll treat this green candle as a burst of sentiment.
Let’s talk seriously: when it comes to tokenized stocks, do you think more of the upside will go to public blockchains like AVAX, or will issuance-focused projects like ONDO benefit more?
$AVAX $ONDO $ETH
These are just my personal views and do not constitute investment advice.
The story itself is pretty straightforward: around 9 p.m. Beijing time, Ava Labs announced that Avalanche would serve as the core ledger for the clearing and settlement layer of a tokenized securities platform affiliated with the NYSE. After the news broke, AVAX climbed from just over $8 to around $9, gaining nearly 9% in 24 hours, with trading volume at roughly $470 million. At the same time, ETH was down more than 4%, hovering around $2,150.
ONDO moved along with it, gaining more than 6% over 24 hours to around $0.38. Tonight, the NYSE put tokenized U.S. stocks on the map.
There are two details, though, that I think are worth looking at calmly.
First, the announcement makes it clear that the platform still needs regulatory approval. It will also support stocks issued on multiple blockchains, with Avalanche handling bookkeeping and settlement—not acting as the exclusive chain. The news is genuinely positive, but there’s still a ways to go before it becomes reality.
Second, past experience has taught me that when news of a major institutional partnership breaks, the initial rally that night is often driven by short sellers getting squeezed. The real test comes the next day. For AVAX, around $9.20 is the level it failed to break through during its previous rebound, while $8.30 is the top of the range it was trading in before the news.
My plan is not to chase it tonight. Tomorrow, I’ll be watching two things: first, whether it can break above $9.20 on strong volume; and second, if it pulls back, whether $8.30 holds. If it holds, I might consider following with a small position. If it drops back below, I’ll treat this green candle as a burst of sentiment.
Let’s talk seriously: when it comes to tokenized stocks, do you think more of the upside will go to public blockchains like AVAX, or will issuance-focused projects like ONDO benefit more?
$AVAX $ONDO $ETH
These are just my personal views and do not constitute investment advice.