- WLFI adviser Ogle opened a $2.2M leveraged AVAX position at $33.88.
- AgriFORCE will rebrand as AVAX One and target $700M in AVAX reserves.
- Whale wallet 0xb2ca placed a $17.2M long, earning $900K in early gains.
World Liberty Financial (WLFI) adviser Ogle has taken a significant leveraged position on Avalanche’s native token, AVAX. According to blockchain tracker Lookonchain, Ogle opened a $2.2 million long position with 10x leverage at an entry price of $33.88. The position will be liquidated if the token falls below $15.50.
Notably, this trade has generated $26,000 in unrealized profit. The advisor also trades Aster tokens with 3x leverage in long positions. This trade is now worth over $1 million in unrealized profit.
Related: Avalanche (AVAX) Price Prediction: Will AVAX Hit $50 Soon?
The move came shortly after agricultural technology company AgriFORCE Growing Systems revealed plans to allocate $550 million of its treasury to AVAX.
AgriFORCE Rebrands and Targets $700M in AVAX
AgriFORCE announced it will rebrand as AVAX One and expand AVAX reserves to a $700 million target. Following the announcement, the company’s shares surged more than 200% in early trading on Monday.
The firm’s advisory board will include well-known names in the crypto sector, including SkyBridge Capital founder Anthony Scaramucci and Coinbase Institutional head Brett Tejpaul.
The Financial Times also reported that the Avalanche Foundation is in talks to raise a $1 billion treasury vehicle, with an initial $500 million private placement led by Hivemind Capital.
Meanwhile, Grayscale filed an updated Form S-1 with the U.S. Securities and Exchange Commission for a spot Avalanche exchange-traded fund, signaling further institutional demand.
Whales Add to AVAX Exposure
Large investors are also taking positions. A whale wallet identified as 0xb2ca opened a $17.2 million long position on AVAX with 5x leverage. As of this press time, the trade has generated nearly $1.4 million in unrealized profit.
The entry of both institutional advisers and whales highlights growing interest in Avalanche amid rising adoption of altcoins for corporate treasury strategies.
Related: Avalanche in Talks With Hivemind and Dragonfly to Raise $1B for AVAX Treasury
Notably, AVAX traded at $34.45 on Tuesday but is 3% down in the past day. At this price, the token remains approximately 76% below its all-time high of $146, reached in November 2021.
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