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11h ago

AVAX Jumps Toward $30 on Report of $1 Billion Avalanche Treasury Plan

A Financial Times report says the Avalanche Foundation seeks $1 billion for two U.S. AVAX treasuries, aligning with a resistance breakout attempt.

AVAX clears key hurdle after 8 rejections: Can AVAX reach $32?
Avalanche Foundation plans $1B raise for US digital asset treasury firms to buy AVAX
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Avalanche foundation eyes $1b raise to fund two crypto treasury companies: ft

Overview

  • Financial Times reports the Avalanche Foundation is in talks to form two U.S. digital-asset treasury companies to buy AVAX, targeting $500 million each via a Hivemind-led Nasdaq deal and a Dragonfly-backed SPAC, with Anthony Scaramucci advising the first effort.
  • AVAX rallied to roughly $28.7–$29 after the report and is testing the $30 psychological level after clearing a 213-day range, with near-term support flagged around $27.5–$28.
  • Traders say the breakout still requires confirmation, with several analyses calling for a daily close above about $26.75–$26.9 to validate upside targets near $30–$32.
  • Derivatives positioning has intensified, with open interest reported near a record $1.07 billion and rising volumes that lift liquidity but elevate liquidation risk.
  • On-chain data cited by analysts highlight RWA value near $305 million and stablecoin supply around $2.68 billion, alongside recent Ava Labs tie-ups with WeBlock and Toyota’s Mobility Open Network.