AVAX One Drops $110M on Avalanche Tokens, Holdings Hit 13.8M

TLDR:

• AVAX One deployed $110M to acquire 9.37M AVAX tokens at an average price of $11.73 per token
• Company now holds over 13.8M AVAX tokens as part of aggressive treasury accumulation strategy
• AVAX One maintains $35M in cash reserves for additional token purchases and share buybacks ahead
• Management views current market volatility as opportune timing to build largest public AVAX treasury

AVAX One Technology Ltd. has pushed its token holdings past 13.8 million AVAX after acquiring 9.37 million additional tokens. 

The company deployed $110 million between November 5 and November 23 at a weighted average price of $11.73 per token. The move marks another step in the firm’s plan to build a substantial digital asset treasury focused on the Avalanche network.

Treasury Expansion Accelerates After Corporate Rebrand

AVAX One launched its treasury accumulation strategy earlier this month alongside a corporate rebrand. 

The NASDAQ-listed company now positions itself as an institutional infrastructure player building on Avalanche’s blockchain. CEO Jolie Kahn said the rapid accumulation reflects confidence in Avalanche’s capacity to support large-scale financial applications.

The company maintains approximately $35 million in cash for additional purchases. 

Management views both AVAX tokens and the company’s own stock as attractive at current price levels. AVAX One recently authorized a $40 million share repurchase program and expects to begin buying back stock soon.

Chairman Matt Zhang pointed to current market conditions as favorable for accumulation. The company plans to deploy yield strategies on existing holdings while continuing open market purchases. 

Zhang emphasized the focus on increasing AVAX per share as a core metric for shareholders.

Avalanche Position Grows Amid Broader Market Volatility

AVAX One aims to become the largest public market vehicle for exposure to Avalanche’s ecosystem. The company’s strategy combines direct token purchases with plans for deploying those holdings in yield-generating activities. 

Management has indicated it will evaluate additional capital formation options to scale its position further.

The treasury update follows AVAX One’s shift toward becoming a digital asset holding company. The firm operates out of Vancouver and West Palm Beach. 

According to the company’s announcement, it considers Avalanche one of the foundational technologies for future financial infrastructure.

AVAX One trades under the ticker AVX on NASDAQ. The company has stated its intention to remain opportunistic with timing on both token acquisitions and stock buybacks. 

Management frames the strategy as building long-term alignment with Avalanche’s network growth and its expanding role in digital finance applications.

The $110 million purchase represents a significant commitment to a single blockchain ecosystem. AVAX One’s total holdings now exceed 13.8 million tokens as it positions itself within the Avalanche network’s institutional tier.