Avalanche Down More Than 8% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a price decrease of 8.84% in the last 24 hours, now at $39.61, despite a 1.0% uptrend over the past week. Trading volume surged by 134.0%, and the circulating supply increased by 0.58% to 377.26 million, representing 52.4% of its max supply. AVAX's market cap ranks it #12 at $14.92 billion.
March 06, 2024 | 3:00 pm
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NEGATIVE IMPACT
Avalanche (AVAX) experienced a significant price drop of 8.84% in the last 24 hours, despite a slight uptrend over the past week. The trading volume has significantly increased alongside a minor increase in circulating supply.
The significant price drop of 8.84% in the last 24 hours directly impacts AVAX's short-term price direction negatively, despite the overall positive trend over the past week. The increase in trading volume and circulating supply suggests heightened activity and interest in AVAX, which could have contributed to the price volatility. Given the substantial market cap ranking and the recent increase in trading volume, this price movement is highly relevant and important for investors, indicating a bearish short-term outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100