According to CryptoSlate data, AVAX rose nearly 9% in the past 24 hours to reach $29, its strongest price level since February.
The token’s performance outpaced the broader top-20 crypto assets, which advanced by an average of 3% over the same period. Notably, the price increase also placed it among the top 10 on CryptoSlate’s Biggest Gainers list for Sept. 11.
This surge reflects broader momentum within the Avalanche ecosystem.
DeFiLlama data shows that decentralized exchanges on the network processed almost $900 million in trading volume in the past day, the highest figure since March and the sixth-largest among all blockchain networks.
This development comes as the Avalanche Foundation is reportedly in advanced talks to establish at least two digital asset treasury companies (DATCOs) focused on the AVAX token.
The report stated that the proceeds from both efforts would be directed toward purchasing AVAX tokens at discounted prices, effectively seeding the treasury companies and strengthening the token’s market base.
Avalanche Foundation’s initiative follows a growing trend of DATCO launches across the industry.
These treasury acquisitions have helped boost token valuations and reinforced institutional demand for digital assets. So, if Avalanche successfully finalizes its fundraising plans, the strategy could amplify interest in AVAX and extend its latest price rally.
