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AVAX, the native currency of Avalanche, a high throughput blockchain, is rising, adding an impressive 9% from May 15 lows. Buyers are taking over after weeks of lower lows. While the expansion of Bitcoin prices could explain these gains, there could be more. 
<h2 id="fine-wine-investment-fund-tokenized-on-avalanche">Fine Wine Investment Fund Tokenized On Avalanche</h2> 
Avalanche has <a href="https://www.avax.network/blog/wine-capital-fund-leverages-oasis-pro-and-avalanche-to-make-fine-wine-an-investable-asset-class" target="_blank" rel="noopener nofollow">announced</a> tokenizing a fine wine investment fund, a move that would see the platform ride on the wave of tokenization. In a statement, Avalanche said the Wine Capital Fund has been tokenized by Oasis Pro and listed on ATS via the Avalanche C-Chain, where smart contracts are deployed. 
The ATS is Oasis Pro’s trading platform registered by the United States Securities and Exchange Commission (SEC). Meanwhile, the capital fund is a “closed-end investment vehicle.” Specifically, it specializes in fine wines and is overseen by WIVX Asset Management. 
The decision to tokenize on Avalanche is a step forward in creating a tokenized asset ecosystem, mirroring progress made in Ethereum, among other chains.&nbsp; 
By making inroads into the fine wines market, estimated to be worth over $400 billion, the platform aims to democratize access, making it available to more investors. Analysts claim tokenization removes barriers common in traditional finance. Notably, Avalanche will play a huge role since the network is scalable, boosting a high throughput with sub-second finality.&nbsp; 
<img loading="lazy" decoding="async" class="size-full wp-image-608468" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot690.png?resize=1024%2C444" alt="Tokenized treasuries | Source: RWA.xyz" width="1024" height="444" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot690.png?resize=1024%2C444?w=1175 1175w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot690.png?resize=1024%2C444?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot690.png?resize=1024%2C444?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot690.png?resize=1024%2C444?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot690.png?resize=1024%2C444?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot690.png?resize=1024%2C444?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
The number of real-world assets (RWA) being onboarded is rising. When writing, data from RWA.xyz&nbsp;<a class="editor-rtfLink" href="https://app.rwa.xyz/treasuries" target="_blank" rel="noopener nofollow">reveals</a>&nbsp;that over $7.6 billion worth of private credit has been tokenized. At the same time, months after announcing the deployment of the <a href="https://www.newsbtc.com/sponsored/blackrock-launches-buidl-fund-on-ethereum-ambitious-ai-altcoin-braces-for-aggressive-growth/" target="_blank" rel="noopener ">BUIDL</a> fund on Ethereum, it manages over $381 million of tokenized United States treasuries. 
<h2 id="efforts-on-meme-coins-defi-will-avax-break-40">Efforts On Meme Coins, DeFi: Will AVAX Break $40?</h2> 
Avalanche is not only making progress in tokenization; earlier, they announced efforts to encourage meme coin activity on-chain. To do this, the Avalanche Foundation launched&nbsp;<a class="editor-rtfLink" href="https://www.avax.network/blog/the-avalanche-foundation-announces-memecoin-rush" target="_blank" rel="noopener nofollow">Memecoin Rush</a>, a $1 million liquidity mining incentive program.&nbsp; 
The model follows the Avalanche Rush program. The number of decentralized finance (DeFi) solutions deploying on the high throughput chain rapidly grew through this program.&nbsp; 
<img loading="lazy" decoding="async" class="size-full wp-image-608467" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot689.png?resize=1024%2C427" alt="DeFi on Avalanche | Source: DeFiLlama" width="1024" height="427" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot689.png?resize=1024%2C427?w=1115 1115w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot689.png?resize=1024%2C427?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot689.png?resize=1024%2C427?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot689.png?resize=1024%2C427?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot689.png?resize=1024%2C427?w=750 750w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
As of mid-May 2024, DeFiLlama <a class="editor-rtfLink" href="https://defillama.com/chain/Avalanche" target="_blank" rel="noopener nofollow">data</a> shows that Avalanche DeFi protocols manage over $945 million. The number has shrunk by over 90% since November 2021, at over $10.9 billion. <a href="https://www.tradingview.com/x/ouB5gsqC/" rel="nofollow"><img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/ouB5gsqC/" alt="Avalanche prices trending upward on the daily chart | Source: AVAXUSDT on Binance, TradingView" width="1233" height="592"></a> 
AVAX prices are stable at spot rates. However, with the coin finding support at $30 and printing a triple bottom, the path of least resistance appears northward toward $40 or higher.

Avalanche Rising: Will The Wine Capital Fund Turbocharge Gains Above $40?

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