Avalanche Down More Than 7% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a significant price drop of 7.64% in the last 24 hours, reaching $30.75. Over the past week, the price has declined by 12.0% from $35.46. The decrease in price is accompanied by a 23.0% reduction in trading volume and a 0.66% decrease in circulating supply. The current circulating supply is 366.80 million, about 50.94% of the maximum supply of 720.00 million. Avalanche's market cap is ranked #11, valued at $11.28 billion.
January 22, 2024 | 3:01 pm
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NEGATIVE IMPACT
Avalanche's price has dropped significantly, with a 7.64% decrease in the last 24 hours and a 12% decrease over the past week. The trading volume and circulating supply have also decreased.
The sharp decline in price and trading volume for Avalanche indicates a bearish sentiment among investors, which could lead to further short-term price declines. The reduction in circulating supply may not offset the negative price action given the current market conditions.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100