Avalanche Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a 3.88% price drop to $34.0 in the last 24 hours, continuing a weekly downward trend with a 15.0% loss from $40.2. The trading volume for Avalanche has increased by 46.0% over the past week, while the circulating supply rose by 0.85% to 366.60 million, approximately 50.92% of its max supply. Avalanche currently ranks #10 in market cap at $12.56 billion.
January 08, 2024 | 3:01 pm
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Avalanche (AVAX) has experienced a significant price decrease of 3.88% over the past 24 hours and a 15% loss over the past week, with an increase in trading volume and circulating supply.
The price of Avalanche has been on a downward trend, which is typically a bearish signal for traders and investors. The increased trading volume suggests higher interest, but it may also indicate selling pressure. The rise in circulating supply could dilute the value of each coin, potentially contributing to the price drop. Given these factors, the short-term impact on AVAXUSD is likely negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100