Avalanche’s native token, AVAX, is gaining significant traction amid the current crypto market upswing, supported by new institutional involvement and a major partnership with FIFA. According to CryptoSlate data, AVAX surged by 11% over the past 24 hours, reaching $25. 16 at the time of reporting. This continues a weeklong pattern that has seen the token increase by approximately 7%. Importantly, this recent rise aligns with a wider market rally that pushed Bitcoin to record highs exceeding $111, 000. However, AVAX’s growth seems driven by factors beyond market sentiment, as demonstrated by recent key developments within its ecosystem.

These advances position Avalanche as a preferred platform for scalable and enterprise-ready blockchain solutions. FIFA Blockchain On May 22, FIFA officially launched its dedicated Layer-1 blockchain on Avalanche to enhance global accessibility and fan engagement. Avalanche reported that this new blockchain supports platforms such as FIFA Collect, which delivers digital collectibles linked to iconic football moments and exclusive real-world experiences including VIP match access. FIFA partnered with infrastructure provider Modex to develop and maintain the blockchain, with Modex handling both backend development and the user-facing marketplace. Modex CEO Francesco Abbate described the project as a significant step forward for digital fan experiences, emphasizing Avalanche’s scalability and ease of integration. Avalanche’s Dedicated Fund FIFA’s launch coincides with growing institutional interest in Avalanche’s ecosystem. On May 21, asset manager VanEck announced plans to launch a dedicated fund focused on Avalanche-based projects in June. Called the PurposeBuilt fund, this new investment vehicle will focus on liquid tokens and venture-backed blockchain startups across AI, payments, gaming, and finance sectors. VanEck also intends to deploy unused capital into tokenized real-world asset markets on Avalanche, supporting liquidity while exploring longer-term blockchain exposure. Pranav Kanade, portfolio manager at Avalanche, stated: “Avalanche has become a magnet for thoughtful builders, and with the VanEck PurposeBuilt Fund, we’re bringing capital and conviction to the founders creating lasting value, not chasing momentum. ”