Cointelegraph·3d ago·negative

Avalanche Treasury shares fall 16% on Nasdaq debut as crypto bear market bites

Avalanche Treasury Company (AVAT) debuted on Nasdaq via a $675M SPAC merger but shares dropped 16% on day one. The company aims to give institutional investors exposure to the Avalanche ecosystem without holding crypto directly.

AVAT shares opened at $2.20 and closed at $1.85, a 16% first-day decline
The company merged with SPAC Mountain Lake Acquisition in a $675M deal backed by Dragonfly, Pantera, VanEck, Galaxy Digital and Kraken
AVAX is down 95% from its 2021 all-time high, trading at $6.61 — a five-year low
Other crypto treasury firms are also struggling: Strategy (MSTR) down 69% in 12 months, SOL Strategies down 92%

marketregulationImpact 6/10

Why our editor rated this negative

Negative for the Avalanche ecosystem and the broader crypto treasury sector. The 16% drop on debut, combined with AVAX at five-year lows and other DATs collapsing, paints a bearish picture for institutional crypto exposure vehicles.

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