Avalanche Rises More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a 3.06% increase in price over the last 24 hours, reaching $40.52, despite a 15% decline over the past week from $47.78. The coin's all-time high is $144.96. Trading volume has decreased by 45% over the past week, while the circulating supply has slightly increased by 0.12% to 365.48 million, approximately 50.76% of the max supply. AVAX's market cap is currently ranked #10 at $14.80 billion.
January 01, 2024 | 7:02 pm
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POSITIVE IMPACT
Avalanche (AVAX) has experienced a short-term price increase of 3.06% to $40.52, contrasting with a weekly decline. The trading volume has decreased significantly, which may indicate less trading interest or consolidation. The slight increase in circulating supply has not negatively impacted the price in the short term.
The short-term price increase of AVAX despite a decrease in trading volume suggests a potential consolidation phase or a reaction to overselling. The increase in circulating supply is minimal and seems to have been absorbed by the market without negative price pressure. However, the recent downtrend and lower volume could indicate a lack of strong momentum, which is why the importance is not set at the maximum.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100