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Avalanche and Hyperliquid Lead Altcoin Rally After Fed Rate Cut

AVAX sees significant growth, climbing 22.6% amid the Avalanche Foundation’s announcement of a $1 billion fund and Bitwise’s S-1 filing for an Avalanche ETF.

AVAX

Summary

Avalanche (AVAX) has surged 22.6% over the past week, reaching $35.42 after two consecutive days of gains. The rally follows the Avalanche Foundation's September 11 announcement to raise $1 billion to support crypto treasury firms. Additionally, Bitwise filed an S-1 with the U.S. SEC on September 16 for an Avalanche ETF (0002086017), further boosting investor confidence.

Terms & Concepts
  • Avalanche Foundation: The organization behind Avalanche (AVAX), a decentralized blockchain platform, which aims to support the development of blockchain ecosystems.
  • S-1 Filing: A form submitted to the U.S. Securities and Exchange Commission (SEC) by companies planning to go public, which includes information on the company’s financials, management, and business plan.
  • ETF (Exchange-Traded Fund): An investment vehicle that tracks an underlying asset or index, allowing investors to gain exposure without directly holding the asset itself.