AVAX Is Sinking
– AVAX is trading at new 2023 lows, down 55% from its highs in 2023.
– Sellers have been strong and unwavering, leading to a rapid decline in AVAX prices.
– Trading volumes have rapidly contracted, indicating general apprehension among traders.
– Higher trading volumes are usually seen in times of expanding prices.
Avalanche Vista And New Partnerships
– Despite partnering with Legitimate Technology and launching the Avalanche Vista program, AVAX remains under pressure.
– Avalanche Foundation aims to purchase real-world assets minted on Avalanche, while Legitimate partnered with Puma and Roc Nation for a sneaker collection.
– The sneaker collection includes NFC chips linked to digital content on Avalanche.
Hot Take
AVAX’s recent decline in price and trading volumes indicate a lack of confidence among traders. Despite the partnership with Legitimate Technology and the launch of the Avalanche Vista program, AVAX has not been able to gain momentum. The market sentiment remains bearish, and it remains to be seen if the new partnerships and initiatives can turn things around for AVAX.
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