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Single Address Opens $21.4 Million AVAX Long Position on Hyperliquid

AVAX futures open interest surged nearly 30% in one day to $1.83 billion, alongside double-digit token gains and institutional treasury adoption trends.

AVAX

Fact Check
The statement is directly confirmed by two independent and credible sources, CoinGecko and PANews. Both sources explicitly report that an address opened a $21.4 million long position in AVAX on the Hyperliquid platform, which subsequently became the largest position on the platform.
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Summary

AVAX futures open interest rose 29.7% in 24 hours to 52.19 million AVAX valued at $1.83 billion, according to Coinglass. The token briefly surpassed $35, climbing 14.3% within the same period. Separately, Nasdaq-listed AgriFORCE Growing Systems raised $550 million and announced a shift toward an AVAX treasury strategy, signaling institutional-level engagement.

Terms & Concepts
  • AVAX: The native cryptocurrency of the Avalanche blockchain, used for transactions, staking, and governance.
  • Futures Open Interest: The total number of outstanding futures contracts that have not been settled, reflecting the level of market participation and leverage.