AVAX Breaks $30 With $1B Treasury Deals and RWA Expansion

AVAX price touched $30 on Binance, the highest level since February. This performance has shifted investor sentiment toward a more optimistic outlook for the rest of the year.

Many now view AVAX as a strong candidate for portfolio allocation. What fueled this rally? The following details explain the drivers.

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Avalanche (AVAX) Expands Institutional Exposure in September

Financial Times reported that the Avalanche Foundation is negotiating the creation of two US-based crypto treasury vehicles, targeting $1 billion.

The first deal, led by Hivemind Capital, aims to raise up to $500 million through a Nasdaq-listed company and is expected to be completed by late September.

The second deal involves a SPAC backed by Dragonfly Capital, which also targets $500 million, though the process may extend into October.

Funds from both transactions will be used to purchase millions of AVAX from the Foundation’s reserves, leveraging a maximum total supply of 720 million tokens, 420 million of which are already in circulation.

This news likely pushed AVAX to $30 on September 11 before a correction to $28.8, according to BeInCrypto data.

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The AVAX trading volume on the exchange today exceeded $1.8 billion, which is also the highest daily volume since February. This shows that this altcoin has again attracted traders’ attention.

Real-World Assets (RWA) Growth Strengthens AVAX Outlook

Another major highlight for AVAX is its leading position in Real-World Asset growth over the past 30 days. Data from RWA.xyz shows Avalanche recorded more than 139% growth in total RWA value, exceeding $450 million.

Much of this growth stems from the tokenization of assets by Janus Henderson, a global investment firm managing over $379 billion. Specifically, the Janus Henderson Anemoy AAA CLO Fund (JAAA) was issued fully on-chain via the Centrifuge protocol on Avalanche.

Since early September, the total value of JAAA on Avalanche has surpassed $250 million. However, the data also shows that AVAX’s RWA market share is still very small at just 2.82%, reflecting today’s fierce competition in the RWA space.

The increase in institutional engagement during September has lifted sentiment and supported AVAX’s rally. Based on this momentum, technical analysts see potential for higher targets, with some expecting a return above $40 by year-end.