Historical snapshot: Original report published November 10, 2026, at 01:41:02 UTC+08:00. Market figures below reflect the source’s reporting window, not live readings.
Price and on-chain readings
Avalanche’s AVAX rose as much as 10% on Monday, leading gains among the 100 largest cryptocurrencies by market capitalization, as the New York Stock Exchange announced plans to use Avalanche to record and settle trades on a planned tokenized-stock platform.
At 15:22 UTC, AVAX had eased to $8.86, still up more than 8% on the day, according to CoinGecko data cited by Cointelegraph. Its market capitalization was approximately $3.95 billion, with $439.7 million traded over the preceding day.
Separately, DeFiLlama data put Avalanche’s total value locked at $633 million, up 4% over 24 hours. That on-chain measure is distinct from AVAX’s price and trading volume; the reported increases do not establish that the NYSE announcement caused all three movements.
What the NYSE selected Avalanche to do
According to Ava Labs, the NYSE’s planned platform will support digital versions of stocks issued across different blockchains, while Avalanche will provide the ledger for recording and settling trades. The platform is intended to support trading around the clock.
Dennis Lee, the NYSE’s head of digital issuance, said the settlement ledger needed speed, reliability, control over participation, predictable costs and a large developer community. He said Avalanche met those requirements.
The 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 platform could launch before the end of 2026, subject to regulatory approval, The Wall Street Journal reported. That makes the announcement an infrastructure selection, rather than confirmation that the service was already operating.
John Nahas, chief business officer at Ava Labs, told Cointelegraph that initial conversations with the NYSE began nearly a year earlier, describing the development as a step toward blockchain becoming foundational financial infrastructure.
Tokenization context
The proposed service forms part of a broader effort to extend stock trading beyond regular market hours and accelerate settlement. The source described traditional US stock-market hours as 9:30 a.m. to 4 p.m. EST on weekdays, with trades often taking at least one business day to settle.
Other initiatives cited in the report included:
- Nasdaq and Payward: In September, Nasdaq announced plans to invest $100 million in Kraken parent Payward for a tokenized-stock project 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 an extension of established market infrastructure and standards into digital markets.
- Progmat: In July, the Japanese financial technology company said 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 snapshot shows a strong daily AVAX price move alongside a smaller percentage increase in Avalanche TVL. The NYSE selection adds institutional-adoption context, but the reported launch remained conditional and the figures do not establish a sustained market trend.