Avalanche's Price Increased More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) saw a price increase of 4.18% in the last 24 hours to $36.91, despite a 24% decrease over the past week from $49.68. The trading volume has increased by 75% over the past week, while the circulating supply decreased by 0.11% to 377.91 million, representing 52.49% of its max supply. AVAX's market cap ranks #12 at $14.07 billion.
April 15, 2024 | 3:03 pm
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Avalanche (AVAX) experienced a 4.18% price increase to $36.91, countering a weekly 24% decline. The trading volume surged by 75%, and the circulating supply slightly decreased.
The short-term price increase of AVAX, despite a significant weekly loss, indicates a potential rebound or market correction. The increase in trading volume suggests growing investor interest or speculative trading, which could lead to further short-term volatility. The slight decrease in circulating supply might contribute to a scarcity effect, potentially supporting the price increase.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100