#AVAX利好短时上涨6.4% #WCTCS9
AVAX is up +6% this time—stop crediting MYSE for it 🐱

Bottom line: The direct cause of this rally came from NYSE, not MYSE.

On November 9, ICE, the parent company of the New York Stock Exchange, announced that it had selected Avalanche as the main chain for clearing and settling transactions on its tokenized securities trading platform. ICE had been testing it for about a year. The platform is planned to launch in Q4 2026, pending SEC approval. After the announcement, AVAX surged intraday to $8.99$AVAX ‌, at one point gaining more than 10%; some market data sources recorded a 12.7% gain.

As for MYSE, that news was an old item from September 23: the company only said it “intends to apply” to tokenize Nasdaq common stock and was still evaluating blockchain networks. The press release did not name any chain. It is a micro-cap stock with a market cap of about $9.4 million and average daily trading volume of 128,000 shares. Even if it really chose a chain, the impact on AVAX would be close to zero. Presenting these two events as cause and effect is a narrative association, not a fundamental driver.

Where things really stand now

As of noon today, AVAX is around $8.54, up +6.3% over 24 hours; the range is $8.99 to $7.82; and its market cap is about $3.96 billion. It is down 4.5% over 7 days and 17.5% over 30 days, and 94% below its all-time high. Trading volume surged to more than $500 million on the day of the announcement, and has now fallen back to the $300 million range.

Does this count as a new growth driver for RWA and tokenized stocks? Let’s break it down.

Narratively, yes. Dinari has 250+ tokenized US stocks, Progmat’s migration involves securities worth trillions of yen, Securitize has licenses in both the US and Europe, and there is BlackRock BUIDL, with on-chain TVL of about $633 million. Avalanche already has a foundation in tokenized stocks.

In terms of value capture, not for now. NYSE is using it as a ledger for “recordkeeping and settlement,” but the announcement didn’t say that transaction fees would be paid in AVAX or that validators would have to stake AVAX. If the end result is a permissioned subnet or L1, AVAX is closer to a “beneficiary of brand endorsement” than a “beneficiary of cash flows.” That’s the most tangible weakness of this rally.

And the competition is substantial: Nasdaq and Krak’s platform are slated for Q2 2027, DTCC is already advancing securities tokenization, and Canton is integrating Japanese government bonds. Avalanche has secured a “settlement position,” not an “industry monopoly.”

My take

This is a “valuation re-rating” rally, not a “fundamentals delivered” rally. The gain shrank from +10% to +6.3% within 24 hours, and the price has retreated to 8.5; buyers who chased the rally are already pulling out.

Three short-term levels: $9.00–9.10 is resistance, $8.5 is the bull-bear dividing line, and a drop below $7.82 would end this rally; $7.20 is the structural invalidation level.
Four medium-term variables: whether the SEC approves it, the platform’s actual settlement volume, whether AVAX can be incorporated into the token economics of this activity, and broader market beta.

For the rally to continue, what’s needed has never been more partnership announcements, but for “this chain to start generating measurable demand for AVAX.”$AVAX