Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Avalanche crypto nears $12 as tokenized Treasuries hit $545M

Avalanche crypto nears $12 as tokenized Treasuries hit $545M

AMBCryptoAMBCrypto2026/10/06 21:30
By:AMBCrypto

Avalanche crypto continued its recovery on Tuesday, gaining

3.6%
to trade near
$11.53
. That left AVAX within touching distance of
$12
, a level buyers have struggled to climb over.

The climb came as the report shows a strong growth in tokenized U.S. Treasuries using avalanche blockchain. However, AVAX still needs to breach the price ceiling before considering the

$13
price level as a near-term target.

Tokenized Treasuries on Avalanche quadruple

In a

6 October
post, Avalanche said there were some
$545 million
in tokenized U.S. Treasuries on its network.

@media only screen and (min-width: 0px) and (min-height: 0px) { div[id^="bsa-zone_1774359638628-7_123456"] { min-height: 50px; transition: min-height 0.3s ease; } } @media only screen and (min-width: 640px) and (min-height: 0px) { div[id^="bsa-zone_1774359638628-7_123456"] { min-height: 90px; } }
AD

​That represented a

14%
increase during the third quarter and was four times the amount recorded one year earlier. The figures were attributed to real-world asset data platform RWA.xyz .

Put simply, tokenized Treasuries allow investors to gain exposure to U.S. government debt through blockchain-based products.

The rise meant that Avalanche has more traditional financial assets being issued on it or in some way representational on it.

Can AVAX finally clear $12?

From its low around the

$7.23
price level, AVAX has advanced almost
60%
. Through its rally, it has climbed above critical average price levels eyed by traders, signaling that the buyers have wrestled control from sellers on broader trend.

The initial struggle looks like it could be between the

$11.70 and $12
price levels.
AVAX has now tried this area several times without producing a confident daily close above the area. Another rejection could keep it moving sideways or trigger some profit-taking.

However, if AVAX were to break above the

$12
mark, then this could well change the scenario, and buyers might try to hold AVAX above the breakout level and push for the $13 mark.

Source: TradingView

However,

$10.40 and $10.50
are the first key areas to look at. Prices here are closer to AVAX’s average price, meaning that buyers may emerge on this pullback.

Should it lose that support, it is likely to revisit the $10 price level again. In case of further fall to the

$9.15
price area, the rally might weaken.

For now, AVAX remains in a favorable position. The trend is rising, network adoption is showing progress, and buyers are pressing against resistance. The unanswered question is whether they have enough steam to turn the

$12
price level into support.

Final Summary

AVAX needs to end the day trading above $12 to increase the possibility of a move up to $13.

Dropping under $10.40 would leave it open to a deeper correction.

 

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Amazon (AMZN.US) begins a new round of small-scale layoffs, with the retail division hit hardest

Amazon confirmed on Wednesday that the company has laid off a small number of employees, mainly involving its Stores division, which is responsible for its main e-commerce website.

智通财经•2026/10/08 03:21

The US stock Q3 earnings season kicks off: Profit growth expected to approach 30%. Can this boost the S&P 500 to new highs?

The AI engine is running at full speed, with S&P 500 profit growth approaching 30%. However, the deterioration in market breadth and high U.S. Treasury yields remain concerns.

智通财经•2026/10/08 02:16

Where is Muse's commercialization stuck? Barred from two-thirds of websites

Meta AI agent Muse faces commercialization difficulties: According to Jefferies' tests on hundreds of e-commerce, airline, and hotel websites, about one-third directly block Muse, another third set up access obstacles, and the core technical challenge has shifted from "Is the model good enough?" to "Can it even get in?" This friction in access will prolong the monetization timeline and objectively reinforce Google’s structural moat.

华尔街见闻•2026/10/08 02:01