On Monday, the New York Stock Exchange announced it will use Avalanche as the core ledger technology for a tokenized securities platform being developed by its parent company, Intercontinental Exchange. The platform will facilitate 24/7 trading, clearing, and settlement of tokenized securities, pending regulatory approval.

AVAX rose 3.6% to $8.64 following the announcement. Analysts viewed the selection as a significant credibility boost for Avalanche, citing the network's performance and reliability during approximately one year of testing.

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