Avalanche (AVAX) Price Surge Raises Concerns Amid Declining On-Chain Activity

Avalanche (AVAX) surged above the upper line of a descending channel on May 13, resulting in a nearly 10% increase in its price. However, recent on-chain data suggests that this rally may not be sustainable.

Analysis of AVAX’s user activity over the past week indicates a decline in demand for the cryptocurrency, currently ranked as the 25th largest by market capitalization.

During this period, the daily count of active addresses engaged in AVAX transactions dropped by 18%. Additionally, there has been a decrease in new demand, with the number of new addresses created daily for AVAX trading decreasing by 2% in the past week.

Moreover, AVAX has seen a decrease in whale activity over the past month. Despite its price breaking above resistance on May 13 and continuing its uptrend, large investors in AVAX have been reducing their exposure. Over the last 30 days, transactions valued between $10,000 and $100,000 have declined by 26%, while transactions ranging from $100,000 to $1 million have seen a 17% decrease during the same period.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!


Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Skip to content