Avalanche (AVAX) has seen its price fall from $36.17 in September to $22.55, reflecting a broader downturn in the crypto market. Technical analysis indicates potential further declines, with a bearish flag pattern and an impending death cross as the 50-day and 200-day EMAs converge. Despite the bearish technical outlook, Avalanche's fundamentals remain robust. The platform's total value locked in real-world assets (RWA) has reached $750 million, ranking it as the fifth-largest RWA platform. Additionally, the network has experienced a 267% increase in fees over the past 30 days, fueled by a surge in transaction volume and unique addresses. Avalanche's staking yield stands at 7.15%, one of the highest in the industry, and potential SEC approval of AVAX ETFs could further boost demand.
Avalanche Faces Price Decline Amid Strong Fundamentals and Rising Transactions
This content is for informational purposes only and does not constitute investment advice.
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