The price of Avalanche (AVAX) is holding steady above the $20 mark as AgriFORCE, a Nasdaq-listed company, secures shareholder approval for a bold pivot involving Avalanche’s ecosystem. Having recently rebounded from a low of $18, the token has displayed significant resilience amidst a broader market optimism surrounding a potential surge in altcoins.
AgriFORCE Eyes $700 Million Bet on AVAX
AgriFORCE, known for its focus on sustainable agricultural technologies, is embarking on an aggressive move into the cryptocurrency strategy framework. The company aims to become the first publicly traded entity on Nasdaq dedicated solely to the Avalanche blockchain network, launching a new enterprise called AVAX One.
On October 27, AgriFORCE announced it had received special approval from shareholders for this initiative. A capital injection of $300 million, along with an additional $250 million offer, will fund an aggressive cash strategy involving AVAX.
The company anticipates an exposure of up to $700 million through direct purchases, staking, and ecosystem involvement in acquiring and holding AVAX tokens.
“With this mandate from shareholders, we can now finalize the transaction and begin the targeted strategy of accumulating AVAX and creating the Berkshire Hathaway of the on-chain financial economy,” commented Matt Zhang, founder of Hivemind and incoming chairperson of AgriFORCE’s board.
AVAX Maintains Above $20: Is $40 Next?
While the company buzzes with excitement, Avalanche’s native token has shown notable strength. Although AVAX’s price fell from recent highs of $21 this week, bullish investors successfully pushed back from the $18 lows. Staying above the critical psychological level of $20 hints at a potential bullish momentum aligning with the broader cryptocurrency market.
If bullish momentum continues and surpasses $30, the altcoin could target price levels above $40. Additionally, the timing of moves towards tokenization and factors like institutional inflows and changes in ETF discussions will be crucial.
AgriFORCE’s business strategy and market performance are key indicators for investors to watch over the coming weeks. The company has indicated that it will put its plans into action in the next few days.
“Finalizing this transaction will position the Company as the first publicly traded entity on Nasdaq with a primary mission centered around the Avalanche ecosystem. The transaction is projected to close around October 30, 2025,” it stated.
The price of AVAX reached an all-time high of $146 in November 2021, but is currently well below that peak. Still, bullish trends have seen a recovery of 630% since the token’s all-time low of $2.79 in 2020.
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