Avalanche’s AVAX rose as much as 10% on Monday after the New York Stock Exchange announced plans to use the blockchain to record and settle trades on a proposed round-the-clock tokenized-stock platform, Cointelegraph reported.
The move made AVAX the strongest performer among the 100 largest cryptocurrencies by market capitalization. But the announcement concerned planned infrastructure—not a live trading service. A launch remained subject to regulatory approval.
Original report published Nov. 10, 2026, at 01:41:02 UTC+8. Market figures below reflect the source’s reporting snapshot, not current prices.
What NYSE selected Avalanche to do
According to Ava Labs, the proposed platform would support digital versions of stocks issued on different blockchains, while Avalanche would provide the ledger used to record trades and complete settlement.
Dennis Lee, NYSE’s head of digital issuance, said the settlement ledger needed speed, reliability, control over participation, predictable costs and a substantial developer community. He said Avalanche met those requirements.
NYSE first announced plans for the platform in January. In September, Ava Labs disclosed that the exchange had spent about a year testing Avalanche; the final selection was not confirmed until Monday, according to the report.
The Wall Street Journal reported that the platform could launch before the end of 2026 if it receives regulatory approval. The intended round-the-clock trading model contrasts with regular US stock-market hours of 9:30 a.m. to 4 p.m. Eastern time on weekdays. Traditional stock trades also often take at least one business day to settle.
The market reaction—and its limits
At 3:22 p.m. UTC, CoinGecko data cited by Cointelegraph showed AVAX had eased to $8.86, still up more than 8% on the day. Its market capitalization stood at approximately $3.95 billion, with $439.7 million traded over the preceding 24 hours.
Separately, DeFiLlama put Avalanche’s total value locked at $633 million, up 4% over 24 hours.
Those figures document the price reaction and the network’s reported DeFi snapshot. They do not establish usage of the planned NYSE platform, which had yet to launch.
A wider push into tokenized securities
The NYSE announcement came alongside several other efforts to bring securities onto blockchain infrastructure:
- Nasdaq and Payward: In September, Nasdaq announced plans to invest $100 million in Kraken parent company Payward for a tokenized-stock initiative expected to launch in the second quarter of 2027.
- DTCC: In October, the Depository Trust & Clearing Corporation launched a service allowing financial firms to turn traditional securities into digital tokens. CEO Frank La Salla described it as part of an effort to bring tokenized securities into a regulated framework backed by established market infrastructure.
- Progmat: In July, the Japanese financial technology company announced it had moved more than 452 billion yen in digital securities onto a dedicated Avalanche blockchain.
- Aave Labs: In September, it announced plans for an Avalanche lending service that would allow financial firms to borrow Tether’s USAT stablecoin against tokenized assets.
The attention driver is clear: NYSE chose Avalanche for a defined role in its planned securities infrastructure. What remained unresolved in the report was regulatory approval and whether the proposed platform would reach its targeted launch window. AVAX’s rally was a market response to that prospect, not evidence of completed rollout or adoption.