- AVAX has underperformed most of its competitors in terms of YTD return on interest
- Sentiment and social volume around Avalanche fell as prices surged
Avalanche [AVAX] has had an extremely difficult time since the beginning of the year, compared to other altcoins in the market. In fact, according to recent data, AVAX has fallen by 21.52% YTD, causing massive losses to its holders.
Source: WuBlockchain
How is AVAX doing?
At press time, AVAX was trading at $33.99. Since the beginning of April, however, the price of AVAX has consistently declined. On the charts, it hit multiple lower lows and lower highs during this period – A sign that AVAX has been tracing a bearish trend. Additionally, the RSI (Relative Strength Index) for AVAX fell too.
What this means is that bullish momentum around Avalanche fell significantly over the last few days. Additionally, the CMF (Chaikin Money Flow) followed the RSI south – A sign that more money is flowing out of AVAX’s market than the volumes coming in.
Simply put, it would take a huge amount of bullish interest for AVAX to see hike once again. To break its prevailing bearish trend, it would need to push past the $50.78-price level on the charts.
Source: Trading View
AVAX’s performance on social media platforms will also play a great role in dictating its price movement. Over the last few days, the social volume around AVAX has remained consistent. However, weighted sentiment around AVAX also fell materially during this period. This means that negative comments around AVAX outnumbered the positive ones, at the time of writing.
If AVAX doesn’t regain the favor of users on social media, the price of AVAX could fall even further in the future.
Source: Santiment
State of the network
Additionally, the popularity of the Avalanche protocol has also started to decline, as indicated by its usage. AMBCrypto’s analysis of active addresses on the Avalanche network indicated that the number of daily users of the platform fell significantly. Coupled with that, transaction activity on the network also declined.
Additionally, a decline in interest was seen in terms of the DeFi sector as well. TVL and DEX volumes, for instance, took a hit – A sign that users have been losing interest in Avalanche on multiple fronts.
Realistic or not, here’s AVAX market cap in BTC’s terms
For a trend reversal, the popularity around both AVAX and the protocol would need to improve.
Source: Artemis
- AVAX has underperformed most of its competitors in terms of YTD return on interest
- Sentiment and social volume around Avalanche fell as prices surged
Avalanche [AVAX] has had an extremely difficult time since the beginning of the year, compared to other altcoins in the market. In fact, according to recent data, AVAX has fallen by 21.52% YTD, causing massive losses to its holders.
Source: WuBlockchain
How is AVAX doing?
At press time, AVAX was trading at $33.99. Since the beginning of April, however, the price of AVAX has consistently declined. On the charts, it hit multiple lower lows and lower highs during this period – A sign that AVAX has been tracing a bearish trend. Additionally, the RSI (Relative Strength Index) for AVAX fell too.
What this means is that bullish momentum around Avalanche fell significantly over the last few days. Additionally, the CMF (Chaikin Money Flow) followed the RSI south – A sign that more money is flowing out of AVAX’s market than the volumes coming in.
Simply put, it would take a huge amount of bullish interest for AVAX to see hike once again. To break its prevailing bearish trend, it would need to push past the $50.78-price level on the charts.
Source: Trading View
AVAX’s performance on social media platforms will also play a great role in dictating its price movement. Over the last few days, the social volume around AVAX has remained consistent. However, weighted sentiment around AVAX also fell materially during this period. This means that negative comments around AVAX outnumbered the positive ones, at the time of writing.
If AVAX doesn’t regain the favor of users on social media, the price of AVAX could fall even further in the future.
Source: Santiment
State of the network
Additionally, the popularity of the Avalanche protocol has also started to decline, as indicated by its usage. AMBCrypto’s analysis of active addresses on the Avalanche network indicated that the number of daily users of the platform fell significantly. Coupled with that, transaction activity on the network also declined.
Additionally, a decline in interest was seen in terms of the DeFi sector as well. TVL and DEX volumes, for instance, took a hit – A sign that users have been losing interest in Avalanche on multiple fronts.
Realistic or not, here’s AVAX market cap in BTC’s terms
For a trend reversal, the popularity around both AVAX and the protocol would need to improve.
Source: Artemis
It’s actually a cool and helpful piece of information. I am glad that you shared this helpful information with us. Please keep us informed like this. Thanks for sharing.
When I originally commented I clicked the -Notify me when new comments are added- checkbox and now each time a comment is added I get four emails with the same comment. Is there any way you can remove me from that service? Thanks!
Some truly superb information, Gladiola I noticed this. “Leaders must encourage their organizations to dance to forms of music yet to be heard.” by Warren Bennis.
Only wanna admit that this is very helpful, Thanks for taking your time to write this.
Hi there! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thank you for sharing!
so much fantastic info on here, : D.
I reckon something genuinely special in this web site.
After study a couple of of the weblog posts on your website now, and I truly like your method of blogging. I bookmarked it to my bookmark website record and will be checking back soon. Pls check out my site as nicely and let me know what you think.
can i purchase cheap clomid without insurance cheap clomiphene pills how can i get generic clomid where to buy clomiphene no prescription where can i get cheap clomid without prescription get generic clomid without a prescription can i purchase cheap clomid online
Thanks on putting this up. It’s understandably done.
I am in truth happy to glance at this blog posts which consists of tons of of use facts, thanks for providing such data.
order azithromycin generic – buy cheap generic tindamax order flagyl 400mg generic
order generic rybelsus 14 mg – buy cyproheptadine 4mg generic periactin drug
domperidone 10mg us – cyclobenzaprine pill cyclobenzaprine pill
inderal price – buy clopidogrel 75mg generic cost methotrexate 2.5mg
order amoxicillin without prescription – buy generic combivent online order ipratropium 100mcg without prescription
buy zithromax 250mg pill – buy tinidazole sale bystolic drug
buy augmentin cheap – https://atbioinfo.com/ order
buy nexium 40mg sale – https://anexamate.com/ order esomeprazole 40mg without prescription
order warfarin sale – https://coumamide.com/ order cozaar 25mg pills
Very efficiently written story. It will be useful to anybody who usess it, including myself. Keep doing what you are doing – i will definitely read more posts.
order generic meloxicam – mobo sin mobic drug
order deltasone 20mg – https://apreplson.com/ buy prednisone 10mg for sale
ed remedies – https://fastedtotake.com/ cheapest ed pills
cheap amoxicillin pills – https://combamoxi.com/ amoxil for sale online
order diflucan – https://gpdifluca.com/# oral diflucan 100mg
buy cenforce 100mg pill – https://cenforcers.com/# cenforce 50mg tablet
tadalafil troche reviews – cialis 10 mg cialis going generic
buy zantac – https://aranitidine.com/# buy ranitidine 300mg sale