Avalanche Decreases More Than 10% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a significant price drop of 10.56% in the last 24 hours, now at $21.04, despite a 63% increase over the past week from $13.31. The trading volume surged by 255%, and the circulating supply rose by 0.06% to 355.60 million, about 49.39% of the max supply. AVAX's market cap is currently ranked #13 at $7.47 billion.
November 17, 2023 | 3:00 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Avalanche (AVAX) experienced a sharp decline of over 10% in a day, despite a strong weekly performance. The increase in trading volume and circulating supply may indicate heightened market activity.
The significant price drop of over 10% in a single day is likely to have a negative impact on investor sentiment in the short term, despite the recent uptrend. The increased trading volume suggests that there may be more selling pressure, contributing to the price decline. The rise in circulating supply could also be a factor in the price decrease as it may dilute the value of existing coins.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100