The viral “NYSE chose $AVAX ” went half a step further than the article itself.
At 21:00 Beijing time on November 9, Ava Labs’ press release said that Avalanche provides the core ledger at the clearing-institution layer for an NYSE-affiliated tokenized securities platform that has yet to launch. NYSE’s Dennis Lee said stocks could be issued on multiple chains, and that the settlement ledger would need to control who can access it. That day, CoinDesk quoted Ava Labs’ John Nahas saying they would use Avalanche technology to build a custom chain, rather than settle on the public C-Chain. The article said regulatory approval was required and gave no launch date.
The market didn’t wait for those caveats. Around 20:00 Beijing time on November 9, the price climbed from about 8.03, hit an overnight high of 9.014, and has now fallen back to around 8.31, still up about 3% over 24 hours. The article was real, but spot prices have already given back most of the spike. If it falls back to around 8.03, this premium will be over; to call it a trend, first it needs to regain and hold 8.65.
#AVAX #NYSE
At 21:00 Beijing time on November 9, Ava Labs’ press release said that Avalanche provides the core ledger at the clearing-institution layer for an NYSE-affiliated tokenized securities platform that has yet to launch. NYSE’s Dennis Lee said stocks could be issued on multiple chains, and that the settlement ledger would need to control who can access it. That day, CoinDesk quoted Ava Labs’ John Nahas saying they would use Avalanche technology to build a custom chain, rather than settle on the public C-Chain. The article said regulatory approval was required and gave no launch date.
The market didn’t wait for those caveats. Around 20:00 Beijing time on November 9, the price climbed from about 8.03, hit an overnight high of 9.014, and has now fallen back to around 8.31, still up about 3% over 24 hours. The article was real, but spot prices have already given back most of the spike. If it falls back to around 8.03, this premium will be over; to call it a trend, first it needs to regain and hold 8.65.
#AVAX #NYSE
