Macro data, market closures, crypto upgrades and AVAX rally set for volatile week

  • AVAX rose 18% amid three developments involving Avalanche, New York Life and Paxos.
  • New York Life launched a tokenized bond fund, while Paxos added AVAX to payment services.
  • Avalanche's September 22 network upgrade remains scheduled alongside other weekly crypto events.

This week's calendar combines major U.S. economic releases with South Korean and Chinese market closures, while a U.S.-China leaders' summit is scheduled for Sept. 24 without a confirmed time. The overlap could increase market volatility. Avalanche's AVAX price rose 18% after New York Life Investment Management launched its first tokenized high-yield bond fund on Avalanche, Paxos added AVAX to its regulated payment services, and Avalanche scheduled a Sept. 22 network upgrade. Other crypto developments include Zilliqa's ZIL ZKP migration tool launch, Injective's INJ Meridian mainnet upgrade, and token unlocks for Gram and Plasma. Key macro events include U.S. September flash manufacturing and services PMI readings, crude oil inventories, initial jobless claims and August new home sales. PMI readings are early surveys of private-sector business activity, while a token unlock releases previously restricted tokens into circulation.

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