Avalanche Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Avalanche (AVAX) has seen a 3.21% decrease in price over the last 24 hours, marking a continuation of its 13% decline over the past week. The trading volume for AVAX has decreased by 2%, while its circulating supply has increased by 1.42%. Currently, AVAX's market cap ranks it 13th at $12.21 billion.
May 14, 2024 | 3:01 pm
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Avalanche's price decrease and its ongoing downward trend, coupled with a decrease in trading volume and an increase in circulating supply, could indicate bearish sentiment among investors, potentially leading to further short-term price declines.
The decrease in price and trading volume, along with an increase in circulating supply, typically signals a bearish outlook for cryptocurrencies. Given AVAX's significant rank in market cap, these factors are likely to influence its short-term price movement negatively.
CONFIDENCE 85
IMPORTANCE 90
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