Scaramucci-backed AVAX One brings Avalanche treasury to Nasdaq - Cryptopolitan

Crypto Insight Summary: * AVAX One is bringing an Avalanche treasury strategy to Nasdaq through Avalanche Treasury Co. * The company plans to deploy capital across Avalanche infrastructure, apps, staking, and ecosystem projects. * Avalanche has about 550 projects, over $1.65 billion in tokenized real-world assets, and 15 million AVAX held by the treasury firm. **The Avalanche Treasury will trade on the Nasdaq under the stock code AVAT on Thursday and is associated with AVAX One, whose chairman is Anthony Scaramucci, while its CEO is the ex-Susquehanna and AllianceBernstein (NYSE: AB) professional Bart Smith, and he claims that AVAT is not a “buy token, sit back, pray” play.** This will happen via a merger with Mountain Lake Acquisition, a SPAC deal worth $675 million when the agreement was initially signed in October. This stock is being listed into a market in which cryptocurrency treasuries have to make efforts to be noticed in the market. The last year’s boom resulted in a number of companies whose activity consisted of owning one cryptocurrency and following its movements. There is some actual stake as well in Avalanche Treasury with its roughly 15 million AVAX, which equates to approximately 3.5% of total circulating supply. The goal is not only to support the growth of that stake but to back the development of those sectors of the Avalanche economy in which the capital invested will boost utilization. The network has about 550 projects and more than $1.65 billion in tokenized real-world assets. AVAX is ranked as the 33rd-largest crypto asset by market value on CoinGecko. Crypto Insight Analysis: Direction: Bullish AVAX Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Nasdaq listing of Avalanche Treasury provides institutional exposure and capital for ecosystem growth.