The latest rally has pushed AVAX into a major demand zone as Avalanche sees an increase in RWA activity and network developments.
AVAX gained nearly 7% over the past 24 hours after briefly tapping $6.92 on Tuesday before pulling back to $6.79. The token is also up a little over 5% on the weekly timeframe.
The move comes as several developments add activity across the Avalanche ecosystem.
RWA Activity, Stablecoins and Network Upgrades
Securitize has now distributed $976 million in asset value on Avalanche, which is a 123% increase over the past 30 days. The ecosystem has also seen progress on its Helicon upgrade.
The upgrade, which went live on the Fuji Testnet on July 28, brings several changes to the C-Chain. It introduces decoupled, continuous transaction execution, which separates transaction execution from block generation to improve how smart contracts process data.
Helicon also adds Auto-Renewed Staking, which allows validators to opt into automatically renewing their stake and reducing administrative work for network operators. The upgrade also lowers the minimum staking duration, thereby reducing the amount of time tokens must remain locked for staking. It further brings more efficient pricing mechanisms aimed at stabilizing transaction costs on the network.
Separately, Avalanche continues to rank among the leading stablecoin networks. The network’s stablecoin market cap currently stands near $1.5 billion.
It is also the ninth-largest blockchain by RWA holder count, with 9,218 holders, according to RWA.xyz, and ranks behind Robinhood, Solana, BNB Chain, Plume Network, Ethereum, Base, Polygon, and Stellar, while remaining ahead of Arbitrum.
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Another notable development for Avalanche came from Japan. Progmat, Japan’s largest security token platform, completed its move to the blockchain last month, bringing more than $2.7 billion worth of tokenized assets onto the network.
The platform migrated from a private Corda-based ledger to a dedicated public Avalanche Layer 1. Progmat accounts for over 64% of the country’s security token issuance value and also includes major tokenized real estate and corporate bond projects.
Inflection Point
AVAX’s latest recovery comes after a month of choppy price action. The crypto asset is trading within a long-term historical demand zone of the $6.4-$7.5 area identified by market expert ‘The Boss.’ The findings reveal that buyers are attempting to slow the decline, which makes it a potential “inflection point rather than just another support level.” The Boss further explained,
“What happens next will define the broader structure. A sustained defense of this demand zone could lay the foundation for a long-term accumulation phase, while a confirmed monthly breakdown would signal that sellers still control the higher-timeframe trend.”