Avalanche Down More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (CRYPTO: AVAX) has seen a 4.75% decrease in price over the last 24 hours, continuing a negative trend with a 17.0% loss over the past week. The trading volume for Avalanche has increased by 25.0%, and its circulating supply has risen by 0.19% to 379.13 million, representing 52.66% of its max supply. Currently, AVAX's market cap ranks #13 at $12.63 billion.
April 30, 2024 | 3:01 pm
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NEGATIVE IMPACT
Avalanche (AVAX) has experienced a significant price drop of 4.75% in the last 24 hours, contributing to a 17% decrease over the past week. The increase in trading volume and circulating supply may indicate heightened activity and interest despite the price decline.
The significant price drop of AVAX over both the last 24 hours and the past week suggests a bearish short-term outlook for the asset. The increase in trading volume and circulating supply, while typically positive indicators, may not be sufficient to counteract the negative price momentum in the short term. The market cap ranking and the details provided about the supply dynamics add context but do not mitigate the immediate impact of the price decline.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100