Avalanche's heavy return: institutional giants gather, can it ignite a new round of rise?

$AVAX 's recent performance has been impressive, and its continued rise has attracted market attention. After delving into the reasons behind it, it was found that the government's functional area of business and the favor of well-known institutions have provided strong support for its rise. Here are several key good news that have driven the price of AVAX up recently. Hopefully, these good news can continue to ferment and push the market higher.

 

- August:

 

Global asset management giant Franklin Templeton has expanded its on-chain money market fund to the Avalanche network. The Franklin OnChain U.S. Government Money Fund (code: FOBXX) was launched in 2021 and is the first US-registered mutual fund to use a public blockchain to record transactions and share ownership. It is also the second largest tokenized fund after the BlackRock BUIDL project. According to rwa.xyz data, as of August 22, the total value of tokenized government bonds exceeded $1.92 billion. The market value of FOBXX exceeds $424 million, second only to BlackRock BUIDL's $502 million.

 

2. The canary released the AVAX trust fund Grayscale Avalanche Trust, which aims to provide investment opportunities in AVAX for Accredited Investors.

 

3. The community initiated the ACP-77 proposal to change the dynamic of Avalanche L1 validators. Avalanche L1 validators no longer need to validate the main network and pledge at least 2,000 AVAX, reducing the operating cost of Avalanche L1 validators.

 

-July: The California Department of Motor Vehicles began digitizing the ownership of 42 million vehicles onto the Avalanche network. This is part of the state's ongoing efforts to modernize the ownership transfer process for California drivers and California Motor Vehicle Management representatives. The three partners jointly created a blockchain operated by the DMV to simplify the vehicle ownership transfer experience for more than 39 million residents in California.

 

- June: Fintech infrastructure provider Oasis Pro announced the launch of the R S Avalanche Infrastructure Fund in partnership with digital asset investment firm Rise Shine Partners. The fund, which was formed and managed by Rise Shine Partners, aims to invest in a diverse portfolio of assets on the Avalanche network, including native AVAX tokens, to run validators and receive staking rewards from various L1s built on Avalanche.

 

May: RWA platform Re launches tokenized reinsurance fund on Avalanche. Crypto insurance provider Nexus Mutual invests $15 million in the fund, becoming one of the first investors.

 

Through the key events of the past few months, it can be seen that Avalanche has been favored by government entities and financial giants, including the California Department of Motor Vehicles, global asset management giant Franklin Templeton, well-known cryptocurrency asset management company Canary Release (Grayscale Investments), fintech infrastructure provider Oasis Pro, digital asset investment company Rise Shine Partners, RWA platform Re, and cryptocurrency insurance provider Nexus Mutual.

 

The support and participation of these institutions have not only driven the continuous rise of AVAX prices, but also injected strong momentum into the practical application and ecosystem development of the Avalanche network. With the continuous fermentation of positive news, Avalanche is expected to continue to maintain strong growth momentum in the future and once again usher in a golden period of development.