- Avalanche DEX volumes smash records, hitting $1.3B in a single day
- Hivemind Capital launches $550M AVAX One fund with Scaramucci as chair
- AVAX price eyes breakout above $35, with potential run toward $43
Avalanche’s DeFi ecosystem lit up on Sept. 24 as decentralized exchange volumes ripped to a fresh all-time high of $1.3 billion. That figure not only shattered the prior day’s peak of $1.18 billion but also signaled that traders weren’t fleeing the network during the broader market dip—they were rotating capital inside it. Despite heavy macro headwinds, including the Fed’s recent rate cut that weighed on BTC and ETH, AVAX still climbed 2.5% to consolidate near $35.
The uptick in volumes highlights a growing preference among Avalanche users to chase yield opportunities within the ecosystem rather than cashing out to fiat or moving to rival chains. That internal rotation has been a major driver of Avalanche’s resilience, with AVAX rallying nearly 47% over the past three weeks while top assets like Bitcoin and Ethereum struggled to recover. The data suggests that DeFi growth, rather than hype, is underpinning the rally.
Hivemind’s $550M Bet on AVAX One
Fueling the momentum further, Hivemind Capital Partners revealed a massive $550 million fundraising plan for the AVAX One initiative. The project will focus on tokenizing financial assets, from fintech products to insurance technologies, directly on Avalanche’s blockchain. Anthony Scaramucci, stepping in as Advisory Chair, confirmed his involvement and stressed the potential of real-world asset tokenization as a long-term growth driver. This move signals institutional confidence that Avalanche is positioning itself as a key player in blockchain finance.
The backing of heavyweight investors adds legitimacy to Avalanche’s expansion narrative. Institutional inflows often serve as a catalyst for retail traders, reinforcing bullish momentum. For AVAX holders, the news couldn’t have come at a better time, as the token hovers near seven-month highs and tests critical resistance levels.
Technical Outlook: Resistance at $35
On the charts, AVAX has been holding firm above the 20-day EMA at $33, showing strong bullish momentum. The MACD line remains above the signal, while the Money Flow Index has cooled slightly from overbought conditions, sitting at 59. A decisive close above the $35 resistance could unlock a path toward $43, marking a new 2025 high.
Still, risks remain. If support at $33 falters, AVAX could retest $30, where the 50-day EMA may provide a cushion. Yet, with DeFi activity surging and fresh institutional commitments rolling in, the bulls appear well-equipped to push higher in the near term.
AVAX’s Edge in a Shaky Market
What makes Avalanche’s rally stand out is its contrast with the rest of the market. While Bitcoin stays capped under $115,000 and Ethereum struggles below $4,200, AVAX has carved its own path with ecosystem-driven growth. Traders are signaling confidence not just in the token but in the network’s broader financial infrastructure ambitions.
This mix of on-chain momentum and external capital inflows paints a compelling story for AVAX heading into Q4. If the ecosystem continues to attract liquidity and institutional partners, Avalanche could be setting the stage for a bigger breakout while its peers remain under pressure.
