Avalanche (AVAX) surged 11% today, becoming one of the best-performing ETFs amid a slight rise in Bitcoin and Ethereum. Institutional investor interest drove this rally, with Grayscale and VanEck updating their filings for their AVAX spot ETFs to include staking reward mechanisms, allowing stakers to stake up to 70% of their holdings. Trading volume soared 140% to $546 million, indicating strong market demand. From a technical perspective, AVAX is testing a key resistance level around $13.20 to $13.50; if it can sustain a breakout above this resistance, the target price could reach $15.60.
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Avalanche (AVAX) surged 11% today, becoming one of the best-performing ETFs amid a slight rise in Bitcoin and Ethereum. Institutional investor interest drove this rally, with Grayscale and VanEck updating their filings for their AVAX spot ETFs to include staking reward mechanisms, allowing stakers to stake up to 70% of their holdings. Trading volume soared 140% to $546 million, indicating strong market demand. From a technical perspective, AVAX is testing a key resistance level around $13.20 to $13.50; if it can sustain a breakout above this resistance, the target price could reach $15.60.