Bearish
Avalanche (AVAX) price drops 10% amid weak on-chain activity
In the past 24 hours, Avalanche's native token, AVAX, experienced a significant decline of nearly 10%. This downturn coincided with a decrease in on-chain activity, as evidenced by a drop in Total Value Locked (TVL) to $720 million, the lowest since July 2024. Additionally, the derivatives market displayed bearish sentiment, with the Long/Short Ratio falling to 0.89, indicating a dominance of short positions.
Key points
- AVAX's price fell nearly 10% amid declining on-chain activity.
- Total Value Locked (TVL) decreased to $720 million, the lowest since July 2024.
- Derivatives market shows bearish sentiment with a Long/Short Ratio of 0.89.
Sources
AI-generated from public news sources. Not financial advice.
