Avalanche recently reported significant growth in real-world asset tokenization that could lead to increased interest from institutional investors and a rise in the AVAX token price.
Growth in Real-World Asset (RWA) Tokenization
Avalanche announced that its market for real-world asset tokens has risen to $305.25 million, marking a 57.3% increase in just 30 days. This growth is supported by 7,725 RWA holders and 39 active RWA assets on the network.
Price Predictions for AVAX
Despite strong economic indicators, the price of the AVAX token has shown volatility. The token surged 9.1% in the past month but is currently trading in the $22–$26 range, with resistance near $27. Analysts suggest that should market conditions improve, Avalanche could reach a price of $80, while others, including cryptocurrency analyst Ali Martinez, have pointed out key resistance at $27, a breakthrough of which could lead to $46.
Reasons for Growth and Institutional Initiatives
Several announcements have fueled the growth in real-world asset tokenization. SkyBridge Capital revealed plans to tokenize $300 million of its hedge funds directly on Avalanche in partnership with Tokeny. Additionally, financial institutions such as JPMorgan and others are exploring Avalanche's infrastructure for their projects. For instance, Franklin Templeton has brought its tokenized money market fund BENJI to Avalanche, making it the first U.S.-registered mutual fund operating entirely on a public blockchain.
In summary, Avalanche demonstrates remarkable achievements in real-world asset tokenization, attracting investor interest and potentially contributing to future growth in AVAX value.
