NYSE picks Avalanche to settle tokenized stocks, and AVAX jumps up to 10% to lead the top 100

The New York Stock Exchange has chosen Avalanche as the blockchain that will record and settle trades on a planned platform for tokenized stocks that trade around the clock, according to Cointelegraph, which tied the announcement to a jump of as much as 10% in the AVAX token on Monday. The Wall Street Journal and CoinDesk ran the same news under headlines saying the NYSE will settle tokenized stocks on Avalanche; both sites blocked our automated reader, so the details below come from Cointelegraph's account and our own market data.

What the NYSE said it is building

Cointelegraph quotes Dennis Lee, the NYSE's head of digital issuance: "At the NYSE, we're looking at how blockchain technology can expand what we offer in equities, and we're picking the right technology for each job." He said the ledger that records and settles trades has to be fast and reliable, let the exchange control who can take part, keep costs predictable and have a large developer community behind it, and that Avalanche meets those needs.

The design matters. The platform is meant to support stocks listed on a range of blockchains, with Avalanche used as the record of trades and the way they are completed. It is a back-end role, not a decision that shares will live only on one chain.

Timing is the open question. Cointelegraph, citing the Journal, says the platform could launch before the end of 2026 if it wins regulatory approval. We have not seen an approval, and a launch date is not confirmed by the exchange in anything we could read. The NYSE first announced the platform in January, and Ava Labs said in September the exchange had spent about a year testing Avalanche; the final pick was not confirmed until Monday.

The token move, in our numbers

We pulled AVAX-USD from the Coinbase Exchange API on Monday, November 9. Cointelegraph reported a rise of more than 8% to $8.86 at 3:22 p.m. UTC from CoinGecko data, with a market value of about $3.95 billion and $439.7 million traded over the prior day.

On those figures AVAX is up roughly 9% from the day's open but only about 3% on the week, because it spent last week drifting between $7.93 and $8.73 at the daily close. The chart shows the real size of the move: it is a day-sized pop inside a larger decline. Our three-month chart puts the token about 26% below its October 6 peak.

Why this is a different kind of crypto headline

Most exchange-and-blockchain stories turn out to be pilots. This one names a specific chain for settlement, which is the unglamorous part of market structure that decides who gets paid and when. Today a US stock trade typically settles at least one business day later, a lag Cointelegraph points to as one reason Wall Street wants blockchains.

Other pieces are moving in parallel. Cointelegraph notes Nasdaq plans to invest $100 million in Kraken's parent company, Payward, to launch tokenized stocks, with a launch expected in the second quarter of 2027, and that the DTCC launched a service in October for turning traditional securities into digital tokens. We covered the earlier NYSE and Blockchain.com agreement and the Morgan Stanley delay to early 2027; the pattern is that infrastructure is being chosen faster than customers are showing up.

What to watch

• Regulatory approval. The year-end launch depends on it, per the Journal as relayed by Cointelegraph.
• Volume versus value. Avalanche's total value locked was $633 million, up 4% on the day, per DeFiLlama via Cointelegraph. A settlement role does not by itself put assets or fees on the chain; how much stock activity actually runs through it will.
• Whether the pop holds. A single-day rise on an announcement tells you what traders thought at that moment, nothing about what comes next.

Live prices are on our crypto prices board.

Sources: Cointelegraph; The Wall Street Journal and CoinDesk headlines, Nov 9, 2026; Coinbase Exchange market data. Prices change quickly. Information, not investment advice.