Rising over 100% in two months, 8 reasons to drive AVAX’s growth

Editor's note:

According to data, the price of AVAX has risen by more than 100% in the past two months, and the Avalanche ecosystem continues to be optimistic. In addition to the accelerating layout of the RWA strategy, highly anticipated chain games such as SHRAPNEL have also injected momentum into the development of the Avalanche ecosystem. KOL 0xJeff summarized the 8 major reasons that have driven the growth of AVAX recently, and BlockBeats compiled them as follows.

Author: 0xJeff

Compiled by: Joyce, BlockBeats

GameFi, tokenization, RWA... Avalanche is in a leading position. People have noticed that $AVAX has grown +80% in the past 30 days. But what are the factors behind this growth? Here are the 8 main reasons driving the growth of $AVAX:

Avalanche Vista

Avalanche launched Avalanche Vista in July 2023, a $50 million fund aimed at promoting tokenization in the blockchain industry. The $50 million fund will be used to invest in various tokenized industries such as stocks, credit, real estate, and commodities.

Asset tokenization is one of the most prominent use cases of blockchain in the real world. Citibank predicts in a report that by 2023, the asset tokenization in the private market will reach 4 trillion US dollars. In September, Citigroup launched tokenization services for institutional clients.

Multiple projects have been built on Avalanche to provide tokenized assets, such as:

- @intainft—Tokenized market for Asset-Backed Securities

- @DEFYCALABS- Tokenized Private Debt

- @bitbond—Tokenization Tool

With the help of Vista, Avalanche is contributing to the development and adoption of OnFi (on-chain finance). They have already partnered with major institutions around the world, such as @Securitize for tokenization on Avalanche and @KKR_Co fund democratization for on-chain investors.

Republic Note

- Republic has invested $2.6B in various enterprises, including Avalanche.

- Republic Note is a digital investment token that pays dividends to holders.

- Dividend is the profit earned by Republic from its holdings of shares.

Project Guardian

The initiative by Singapore's MAS has also driven growth for Avalanche in the tokenization field. The project aims to test the feasibility of asset tokenization and DeFi, and is composed of multiple industry leaders such as Apollo, BNY Mellon, Onyx by JPM, etc.

Apollo and Onyx are collaborating with Avalanche to test the automation and tokenization of the investment portfolio management industry. They are partnering with LayerZero Labs to provide access to funds provided by WisdomTree, a leading asset management company.

Partner:

- Aiming to provide private tokenized "alternatives", such as equity, private credit, real estate, etc.

- It is an extension of the Onyx digital asset product, processing tokenized assets worth 1-2 billion US dollars daily.

Investors can access these alternatives on-chain.

African On-Chain Forex

Canza Finance recently launched its forex product Baki on Avalanche, which creates a liquidity market for African foreign currencies at the official CB exchange rate, allowing users to hedge forex risks.

wstETH LayerZero

LayerZero has integrated the wstETH token, which can be moved across Avalanche, BNB Chain, and Scroll. Although the proposal has not yet been officially accepted by LidoDAO, wstETH itself has 7.4K holders and a value of 3.4M ETH (approximately $7B).

ThirdWeb Partners

ThirdWeb collaborates with AvaCloud to enable developers to build custom application chains using their mature web3 development toolkit. This partnership abstracts the complexity associated with starting a custom chain from scratch.

Citi Foreign Exchange Solutions

Citibank is partnering with Avalanche to provide services for its spot foreign exchange market. The partnership can:

- Real-time quotes

- Fast on-chain transaction execution

- Compliance registration

The ultimate goal is end-to-end blockchain-based transactions, which falls under the protection scope of MAS's Project Guardian. This partnership tests bilateral spot forex traders, starting with the USD/SGD currency pair, and the on-chain solution aims to provide real-time quote flow and store data on the blockchain.

All of these developments are driven by the following factors:

- @playSHRAPNEL

- @spellbornegame

- @PlayProvidence

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia