Avalanche Pumps 14% After JP Morgan Adoption, Bitcoin's ORDI Pops 16%

Avalanche (AVAX) continued to surge Thursday following news that banking giant J.P. Morgan used the blockchain to tokenize portfolios. J.P. Morgan's Onyx tapped an Avalanche subnet, or a dedicated version of the blockchain, in a proof-of-concept with Apollo Global and the Monetary Authority of Singapore's Project Guardian

AVAX at the time of writing is up nearly 14% in 24 hours, leading the rally of the top 20 coins and tokens and trading for just under $23, according to CoinGecko. Avalanche neared $24 overnight, and has marked a nearly 67% gain over the past seven days.

Elsewhere, Dogecoin (DOGE) is another solid gainer out of the biggest cryptocurrencies: the original meme coin is up by 4% in 24 hours, coming in at a price of $0.076 per coin.

And Cardano (ADA), the ninth largest digital asset by market cap, has made gains of more than 3% in the past day; it is now valued above $0.38.

Priced at $36,482, Bitcoin (BTC) is up just 0.3% in the past day, while Ethereum (ETH) has fallen by nearly 1%—despite BlackRock filing for a spot ETH exchange-traded fund (ETF) on Thursday.

The second-largest digital asset by market cap is trading right around $2,000 per coin.

Ordi (ORDI) also has jumped by more than 16% and is trading for $25.89. The first-ever Bitcoin BRC-20 token was listed on Binance, the world's biggest cryptocurrency exchange, last week.

Solana (SOL), which received a boost yesterday and touched a new yearly high, was down nearly 1% Thursday morning, trading hands for $61.40 per coin. Renewed interest in the asset has meant that it has made the biggest gains in price out of the largest cryptocurrencies in recent weeks.

Edited by Andrew Hayward