Avalanche (AVAX) surges by over 29%

Avalanche (AVAX) has experienced an impressive surge of over 29% in the past 24 hours, reaching a high of $24, marking its peak in 15 months.

This significant resurgence in Avalanche’s price has been due to a recent collaboration announcement between Onyx, JPMorgan, and Apollo Global.

This collaboration is part of Project Guardian, which aims to integrate LayerZero Labs, connecting Onyx with a permissioned Avalanche Evergreen Subnet.

The primary goal is to streamline fund subscriptions and redemptions for WisdomTree Prime, representing a substantial step forward in reshaping the asset and wealth management industry.

The successful test conducted by Onyx and Apollo Global, utilizing blockchain technology, demonstrates the potential for automated portfolio management.

The integration of Avalanche Evergreen Subnets and customized blockchains aligns with Ava Labs’ broader vision of digitizing global assets through the unique features offered by the Avalanche platform.

As AVAX continues its bullish momentum, surging from $18.36 to $23.95, the daily trading volume has seen a remarkable increase of over 110%, reaching $1.7 billion.