BTC
$105,657.52
+
0.76%
ETH
$2,522.88
+
0.94%
USDT
$1.0005
–
0.02%
XRP
$2.1892
+
0.60%
BNB
$652.43
+
0.86%
SOL
$151.37
+
0.77%
USDC
$0.9998
+
0.00%
DOGE
$0.1874
+
3.79%
TRX
$0.2811
+
0.60%
ADA
$0.6677
+
0.29%
HYPE
$34.78
+
0.80%
SUI
$3.2581
+
2.20%
LINK
$13.96
+
3.33%
AVAX
$20.96
+
6.82%
LEO
$9.0889
+
1.11%
XLM
$0.2678
+
1.50%
BCH
$410.38
+
4.40%
TON
$3.1952
+
0.88%
SHIB
$0.0₄1282
+
1.71%
HBAR
$0.1703
+
1.67%
By CD Analytics, Francisco Rodrigues|Edited by Nikhilesh De
Updated Jun 7, 2025, 3:29 p.m. Published Jun 7, 2025, 2:59 p.m.
- AVAX surged by over 6% in the last 24 hours, outperforming the broader crypto market.
- The price rebound may be attributed to real-world asset tokenization, institutional adoption and growing adoption of its technology.
- AVAX established strong support around $19.40 and broke out above $20, with short-term resistance near $21 and support at $20.81.
Avalanche’s native token AVAX surged more than 6% in the last 24 hours, outpacing the broader crypto market as measured by the CoinDesk 20 (CD20) index, which rose 0.8% in the same period.
STORY CONTINUES BELOW
AVAX’s price may have rebounded from political jitters and moved on the back of major developments in real-world asset (RWA) tokenization and institutional adoption.
The token climbed from a low of $19.37 to $20.96, recovering from a wider market sell-off triggered by growing tensions between U.S. President Donald Trump and Tesla CEO Elon Musk earlier this week, which saw the former threaten to terminate government contracts for the latter, who in turn accused the president of being implicated in the Jeffrey Epstein files.
The token rebounded after showing multiple signs of bullish momentum, according to CoinDesk’s Research’s technical analysis data model, which shows AVAX established a strong footing around $19.40 that was confirmed by volume exceeding the 24-hour simple moving average.
Volume further rose around the time of AVAX’s breakout last the $20 mark, showing strength in the move. The token has now formed short-term resistance near $21 and support at $20.81, the model shows.
But the stronger-than-average rebound may not just be technical. Last month, FIFA announced it chose Avalanche to power its FIFA blockchain network, with plans to migrate its existing non-fungible token (NFT) collection from Algorand and Polygon into the new network and to build out new fan experiences.
Institutional momentum added another leg. Asset manager VanEck is expected to roll out a $100 million PurposeBuilt Fund this month after first announcing it on May 21, focused exclusively on projects within the Avalanche ecosystem.
The fund will back tokens and businesses in gaming, finance, and AI, while deploying idle capital into on-chain real-world asset products like tokenized money markets.
The price still faces technical resistance near $24.80, but the combination of institutional activity, on-chain RWA growth, and network usage from high-profile partners like FIFA could help AVAX stay ahead of broader market volatility through June.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk’s $1,000 disclosure threshold.
