Institutional interest signals confidence in Avalanche’s future.
Nasdaq-listed AgriFORCE Growing System has announced a historic pivot into the blockchain sector.
According to Monday’s press release, the firm will change its name to AVAX One and raise roughly $550 million to fund Avalanche accumulation.
AVAX One plans to hold Avalanche tokens worth over $700 million, becoming the first publicly listed company dedicated to purchasing AVAX.
The move has gained attention as it marks AgriFORCE’s significant departure from the agriculture sector.
It reflects the firm’s confidence in blockchain as a disruptive force across various industries.
Commenting on this new development, AgriFORCE’s CEO Jolie Khan says:
For the first time, our company provides public market investors with a professionally-managed vehicle to invest directly in this transformation. Our mission is to maximize our ownership of this foundational technology, AVAX, on a per-share basis, delivering direct value to our shareholders as this new economy grows.
The Layer 1 has gained traction as a top platform for institutions interested in blockchain.
Avalanche boasts security with over $6.2 billion in staked assets.
Also, leading firms such as Apollo, JPMorgan Chase, and KKR are already using the AVAX network to launch custom blockchain solutions and tokenized products.
Avalanche boasts faster transaction speeds, low costs, and high scalability, features that are crucial for RWA tokenization and DeFi.
Such perks have increased the blockchain’s institutional appeal.
The firm plans a massive capital raise led by Hivemine Capital and participation from more than 50 investors, including Cypher Capital, Republic Digital, Kraken, Digital Currency Group, ParaFi, and Galaxy Digital.
The raise will include $250 million in equity-linked financing and $300 million PIPE (subject to stakeholder approval).
Hivemind Capital founder Matt Zhang said the firm plans a short- and long-term approach:
Our near-term active strategy will focus on disciplined asset accumulation and, in the long run, acquiring and onboarding cash-flowing fintech businesses onto the Avalanche network. This creates a powerful growth flywheel and sustained NAV premium that differentiates ourselves from all other digital asset treasury companies and ETFs.
AVAX One will use the raised capital to support its goal of owning AVAX worth more than $700 million.
Avalanche’s native token maintained a bearish outlook today.
It is trading at $31.43 after losing over 4% of its value in the past 24 hours.
The altcoin trades within the key breakout level between $30 and $31.
Reclaiming $36 could support short-term rallies to $42 and flip AVAX’s near-term trajectory to bullish.
However, losing the foothold at $28 might postpone the imminent rally.
Broad market sentiments will determine Avalanche’s price actions in the coming sessions.
Meanwhile, emerging institutional interest positions the AVAX project for massive growth in the coming times.
