AVAX hits highest level since January as NYSE tests Avalanche infrastructure

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AVAX tokenization narrative strengthens on fresh NYSE details

NYSE tested Avalanche for about a year

The rally was driven largely by new details about Ava Labs’ work with the New York Stock Exchange. As The Block reports, Ava Labs President Charlie Cooper said the NYSE had spent roughly a year testing Avalanche technology and exploring how it could be integrated with the exchange’s infrastructure.

According to Cooper, the NYSE examined not only the network’s technical capabilities but also the economics of a potential deployment. Michael Blaugrund of Intercontinental Exchange, the NYSE’s parent company, also said ICE had been working closely with the Avalanche team and that the technology meets many of the company’s requirements.

Still, the NYSE has not officially selected Avalanche as the blockchain for its future platform. ICE continues to assess infrastructure options, meaning the testing should not be treated as confirmation of a final agreement.

AVAX climbs to its highest level since January

The new details triggered another sharp leg higher in AVAX. On September 20, the token reached $10.829, its highest price since late January 2026.

From the September 18 low near $7.55 to today’s peak, AVAX gained roughly 43.5%.

Profit-taking emerged after the move to $10.82. The token lost more than 7% within an hour and slipped toward $9.76, while still trading around 12% above its level 24 hours earlier.

That pullback erased part of the initial surge, but AVAX continues to hold a substantial portion of its two-day advance.

Interest in the token had already started building before today’s high. Traders increasingly began pricing in the possibility that ICE’s interest in Avalanche could eventually lead to deeper use of the network for tokenized securities. That institutional narrative has become one of the main drivers behind the latest move.

On-chain activity rises alongside the price

The AVAX rally has been accompanied by a noticeable increase in network activity. According to the latest DefiLlama data, total value locked across Avalanche DeFi protocols rose by roughly 13% over 24 hours to about $602 million.

Over the same period, the network recorded around 425,000 active addresses, including roughly 181,000 new addresses, while transaction count approached 952,000. DEX trading volume reached about $119 million for the day, and weekly perpetual futures volume climbed nearly 36% to $245 million.

The broader picture is less uniform, however. Avalanche’s stablecoin market capitalization stands at roughly $1.26 billion but has fallen by around 6.7% over the past week. That suggests the rise in price and network activity has not yet been matched by equally strong capital inflows across every part of the ecosystem.

Another important fundamental factor is the growth of tokenized real-world assets. Active RWA AUM on Avalanche is now approaching $912 million. If the NYSE ultimately chooses Avalanche for even part of its on-chain infrastructure, that could materially strengthen the network’s institutional narrative.

For now, though, no such decision has been officially announced. The latest AVAX rally therefore reflects market expectations around a potential NYSE use case rather than a confirmed deployment on Avalanche.

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