Update
AVAX Surges 12.7% as NYSE Selects Avalanche
AVAX surged 12.7% after the New York Stock Exchange (NYSE) selected Avalanche for a new NYSE-linked platform that will support tokenized stock settlement. The announcement coincided with strong Q3 growth for the Avalanche network, bolstering bullish sentiment. Avalanche will serve as the core ledger for the clearing firm, with trades cleared and settled on Avalanche, while stock issuance can occur on other blockchain networks. The decision highlights growing institutional confidence in Avalanche, which recently completed a record-breaking third quarter with increased trading volume and consumer activity.