Avalanche Decreases More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a price decrease of 4.62% over the past 24 hours, settling at $19.99, despite a weekly uptrend of 4.0%. The trading volume has decreased by 7.0% over the past week, while the circulating supply has increased by 0.24% to 355.64 million, approximately 49.39% of the max supply. Avalanche's market cap is currently ranked #14 at $7.14 billion.
November 22, 2023 | 3:00 pm
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NEGATIVE IMPACT
Avalanche (AVAX) has experienced a short-term price decline of 4.62% to $19.99, contrasting with its 4% weekly gain. The decrease in trading volume and increase in circulating supply may influence the price further.
The short-term impact on AVAXUSD is negative due to the recent 4.62% price drop. This decline is significant as it goes against the recent uptrend, indicating potential volatility. The decrease in trading volume suggests lower market interest, which could lead to further price drops. However, the increase in circulating supply may have a dilutive effect on the price. The market cap ranking provides context but does not directly influence short-term price movements.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100