Avalanche's AVAX token jumped nearly 7% in 24 hours, briefly hitting $6.92 before settling at $6.79. The move comes as the network's Helicon upgrade went live on the Fuji Testnet on July 28, and as tokenized asset volumes on Avalanche continue to climb. AVAX is up a little over 5% on the week.
Helicon hits testnet
Helicon introduces decoupled, continuous transaction execution — separating execution from block generation. That's a shift from how most blockchains work, where execution and block creation are tightly coupled. The upgrade also brings Auto-Renewed Staking, letting validators automatically renew their stake without manual intervention. It lowers the minimum staking duration, reducing lock-up time, and includes more efficient pricing mechanisms to stabilize transaction costs. The testnet launch is a key step before a mainnet deployment, though no date has been set yet.
Tokenized assets boom
Securitize has distributed $976 million in asset value on Avalanche, a 123% increase over the past 30 days. That's not the only big number. Progmat, Japan's largest security token platform, moved to a dedicated public Avalanche Layer 1, bringing over $2.7 billion in tokenized assets. Progmat accounts for more than 64% of Japan's security token issuance value. Combined, the two platforms push tokenized asset value on Avalanche past $3.6 billion. The network's stablecoin market cap sits near $1.5 billion, and it's the ninth-largest blockchain by RWA holder count with 9,218 holders.
Demand zone in focus
AVAX is trading within a long-term historical demand zone of $6.4 to $7.5, identified as a potential inflection point. Analyst 'The Boss' said a sustained defense of that zone could lead to accumulation, while a breakdown would signal seller control. The zone has held so far, but the testnet upgrade and tokenized asset growth haven't yet pushed AVAX above the $7.50 ceiling. Whether the network's fundamentals can translate into a breakout remains the open question.
