Avalanche (AVAX) is experiencing significant growth driven by its expansion into Asian markets, particularly South Korea and Japan, with new stablecoin payment solutions. In South Korea, custodian BDACS launched KRW1, the country's first Korean won-backed stablecoin, fully collateralized with deposits at Woori Bank. The stablecoin is currently in its pilot phase following a successful proof of concept, positioning Avalanche at the forefront of Korea's digital asset integration.
Similarly, in Japan, Avalanche is collaborating with major industry players including SMBC, one of the nation's largest banks, and retail group Densan to develop stablecoin-powered payment systems. This expansion coincides with a surge in network activity on Avalanche, with decentralized exchange (DEX) volume reaching $12 billion in August alone - an eightfold increase in just two months.
Real-world asset (RWA) tokenization on Avalanche has also exceeded $450 million, driven by institutions such as Grove Finance and SkyBridge. The platform's total value locked (TVL) has surpassed $2 billion, with DeFi protocols including UNI, Pharaoh, Benqi, and LFJ showing substantial growth. UNI, for example, posted a 97% gain in the past month.
AVAX is currently trading near $33, up over 9.4% in the past 24 hours, having recently broken above a key pivot at $31.05. Technical indicators show bullish momentum with an RSI of 68.44 and positive MACD histogram. Analysts suggest that a breakout above $34.50 could propel AVAX toward $42. Institutional interest is further supported by four AVAX ETF filings awaiting regulatory approval.
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