Avalanche (AVAX) Price Jumps 8% as NYSE Confirms 24/7 Tokenized Stock Settlement Plan

TLDR

AVAX rose as much as 10% on Monday and led the top 100 cryptocurrencies. The NYSE chose Avalanche technology to settle trades on its planned tokenized stock platform. The exchange will run its own custom chain, not the public Avalanche network. AVAX later traded near $8.86, with a market cap of about $3.95 billion. The platform could launch before the end of 2026 if regulators approve it.

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Avalanche (AVAX) rose as much as 10% on Monday after the New York Stock Exchange picked its technology for a new trading platform. The token became the top gainer among the 100 largest cryptocurrencies by market cap.

Avalanche (AVAX) Price

AVAX later eased to $8.86 and was still up more than 8% on the day, according to CoinGecko data at 3:22 p.m. UTC. Its market cap stood near $3.95 billion.

Trading volume reached $439.7 million over 24 hours. Avalanche’s total value locked was $633 million, up 4%, according to DeFiLlama.

The NYSE said Avalanche will serve as the core ledger for clearing and settling trades. The platform is an alternative trading system tied to the exchange.

How the NYSE Plans to Use Avalanche

The exchange will not use Avalanche’s public blockchain. John Nahas, chief business officer at Ava Labs, told CoinDesk the NYSE will run its own custom chain built on Avalanche technology.

BREAKING: Upcoming NYSE-affiliated tokenized securities platform’s core clearing and settlement layer will be built on top of Avalanche technology.

Avalanche will support the platform’s clearing firm, supporting the development of infrastructure for 24/7 trading, clearing, and… pic.twitter.com/LSzeFbGegN

— Avalanche🔺 (@avax) November 9, 2026

Ava Labs says companies can launch tailored networks through its Ava Cloud service. These networks let firms set the rules, including who can take part.

Dennis Lee, head of digital issuance at the NYSE, said the exchange needed a fast ledger. He said it also had to keep costs predictable and control who could participate.

Nahas said the project took more than a year. He said both sides ran technical, business and ecosystem reviews before the selection.

Nahas told Cointelegraph the deal is “an important step toward blockchain becoming foundational financial infrastructure.” He said talks began nearly a year ago.

Avalanche will not be the only blockchain involved. The platform will support stocks issued on several networks and connect them to the custom chain.

US stock markets typically open from 9:30 a.m. to 4:00 p.m. EST on weekdays. Trades often take at least one business day to settle.

The platform will pair the NYSE’s Pillar trading engine with blockchain-based clearing, settlement and custody. It aims to offer 24/7 trading, instant settlement and stablecoin funding.

Other Tokenization Moves in the Market

Last week, the NYSE grew its transfer agent network to six firms. It added Broadridge, Computershare, Equiniti and Superstate to Securitize and tZERO.

Nasdaq is building its own tokenized stock system. In September, it said it would invest $100 million in Kraken’s parent company, Payward, with a launch expected in the second quarter of 2027.

The DTCC launched a tokenization service in October. It uses a private Besu blockchain and the Canton Network, and it focuses on custody and transfers.

The SEC’s innovation exemption opens another path. It lets select blockchain venues trade tokenized stocks through automated market makers.

Avalanche already hosts other traditional finance projects. In July, Progmat moved more than 452 billion yen of digital securities onto a dedicated Avalanche chain.

In September, Aave Labs announced a lending service on Avalanche. Financial firms could borrow Tether’s USAT using tokenized assets as collateral.

The NYSE first announced the platform in January. Ava Labs revealed the testing in September, but the final pick was confirmed only on Monday.

The Wall Street Journal reported the platform could launch before the end of 2026. That depends on regulatory approval.

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