{"id":26029,"date":"2022-05-05T03:53:28","date_gmt":"2022-05-05T07:53:28","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=26029"},"modified":"2022-05-05T03:53:41","modified_gmt":"2022-05-05T07:53:41","slug":"heres-why-avalanche-avax-prices-surge-14-as-new-trust-launch","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/heres-why-avalanche-avax-prices-surge-14-as-new-trust-launch\/","title":{"rendered":"Here’s Why Avalanche (AVAX) Prices Surge 14% As New Trust Launch"},"content":{"rendered":"\n
The 11th-largest cryptocurrency, Avalanche (AVAX)<\/a>, surged on Thursday after digital asset manager Valkyrie launched an investment trust devoted to the token.<\/h5>\n\n\n\n
\"Here's<\/figure><\/div>\n\n\n\n

In just a few hours, AVAX soared 14% to a one-week high of $68.36. The jump occurred shortly after Valkyrie's announcement, which is expected to attract more institutional funds to the Avalanche blockchain.<\/p>\n\n\n\n

Institutional investors are becoming more interested in the token, according to the asset manager.<\/p>\n\n\n\n

AVAX's gains were also aided by a broader rally in the cryptocurrency market, as investors were relieved that the US Federal Reserve lifted interest rates as expected. In the last 24 hours, the total crypto market capitalization increased by roughly $100 billion.<\/p>\n\n\n\n

Will prices rise after Valkyrie launches Avalanche Trust?<\/strong><\/h3>\n\n\n\n

In a news statement\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> issued on Wednesday, Valkyrie, a popular digital asset manager, revealed the new trust. The trust will invest in AVAX on behalf of institutional investors, giving them access to the token without having to buy it themselves.<\/p>\n\n\n\n

According to Valkyrie, the planned investment trust will only be offered to qualified investors. Avalanche, lauded by the asset manager, is the “fastest smart contracts platform” in the blockchain industry.<\/p>\n\n\n\n

To this end, the Valkyrie will begin staking AVAX through the trust. The decision reflects institutional investors' increased interest in proof-of-stake (PoS) networks, which is likely sparked by Ethereum's anticipated switch to the medium later this year.<\/p>\n\n\n\n

Proof-of-stake networks are all the rage right now<\/strong><\/h3>\n\n\n\n

Ethereum's planned switch to a PoS network has sparked interest in alternative PoS tokens including AVAX, SOL, and ADA. Avalanche, in particular, is considered a major Ethereum contender.<\/p>\n\n\n\n

PoS tokens appear to be gaining traction among institutional investors as a viable alternative to Bitcoin. PoS is also more appealing to environmentally-minded regulators due to its lower energy consumption when compared to proof-of-work tokens.<\/p>\n\n\n\n

CoinShares, Grayscale,<\/a> and 21Shares are among the digital fund managers who have launched PoS-exposed products this year, claiming increased demand from institutional investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 11th-largest cryptocurrency, Avalanche (AVAX), surged on Thursday after digital asset manager Valkyrie launched an investment trust devoted to the token. In just a few hours, AVAX soared 14% to a one-week high of $68.36. The jump occurred shortly after Valkyrie’s announcement, which is expected to attract more institutional funds to the Avalanche blockchain. Institutional […]<\/p>\n","protected":false},"author":32,"featured_media":24100,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[2309,8744],"class_list":["post-26029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-avalanche","tag-avax-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/avalanche.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=26029"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26029\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/24100"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=26029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=26029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=26029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}