AVAX climbed to a seven-month high after reports surfaced that the Avalanche Foundation is pursuing up to $1 billion in funding to launch dedicated treasury companies holding its token.

According to CryptoSlate data, AVAX rose nearly 9% in the past 24 hours to reach $29, its strongest price level since February.

The token’s performance outpaced the broader top-20 crypto assets, which advanced by an average of 3% over the same period. Notably, the price increase also placed it among the top 10 on CryptoSlate’s Biggest Gainers list for Sept. 11.

This surge reflects broader momentum within the Avalanche ecosystem.

DeFiLlama data shows that decentralized exchanges on the network processed almost $900 million in trading volume in the past day, the highest figure since March and the sixth-largest among all blockchain networks.

At the same time, tokenized real-world assets like BlackRock’s BUIDL deployed on Avalanche now exceed $450 million. According to RWA.xyz data, this reflects a 139% increase in the last month.

AVAX treasury company

This development comes as the Avalanche Foundation is reportedly in advanced talks to establish at least two digital asset treasury companies (DATCOs) focused on the AVAX token.