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dropped 16% on its first day of trading on Nasdaq, a difficult debut that tracks directly to the state of its core asset: $AVAX, the native token of the Avalanche blockchain, which is currently trading at a five-year low.
The company holds approximately 15 million $AVAX tokens, making its equity essentially a proxy for the token's price direction.
What a Blockchain Treasury Company Is A blockchain treasury company is a publicly traded entity whose primary business is holding a cryptocurrency rather than selling a product or service.
Investors who buy shares are, in effect, gaining exposure to the underlying token through a regulated stock — useful for funds or individuals who cannot or prefer not to hold crypto directly.
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