Avalanche Up More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a 3.29% increase in price over the last 24 hours, reaching $20.97, and a 5.0% gain over the past week. Despite the recent uptick, it is still far from its all-time high of $144.96. The trading volume has decreased by 50.0% over the past week, while the circulating supply has increased by 1.9% to 365.11 million, approximately 50.71% of the max supply. AVAX's market cap is currently ranked #14 at $7.64 billion.
November 29, 2023 | 3:00 pm
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NEUTRAL IMPACT
Avalanche (AVAX) has experienced a 3.29% price increase in the last 24 hours and a 5.0% increase over the past week, with its price now at $20.97. The trading volume has decreased significantly, which could indicate less trading interest or consolidation. The increase in circulating supply may put downward pressure on the price if demand doesn't keep up.
The price increase of AVAX is a positive sign, but the significant drop in trading volume could suggest a lack of momentum or trader caution, potentially limiting further short-term gains. The increased circulating supply could also dilute the value if demand doesn't match the new supply. However, the market cap ranking indicates a strong position in the market, which may help sustain investor interest.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100