AVAX (Avalanche) fell 1.66% in the last 24 hours.

Gate News Bot message, October 15, according to CoinMarketCap data, as of the time of writing, AVAX (Avalanche) is currently priced at $22.73, with a fall of 1.66% in the last 24 hours, reaching a high of $29.39 and a low of $10.64. The 24-hour volume has reached $1.144 billion. The current market capitalization is approximately $9.597 billion, a decrease of $162 million compared to yesterday.

Avalanche is an open, programmable smart contract platform for decentralized applications. It employs an innovative consensus protocol and subnet architecture, providing high throughput, fast finality, and strong security while maintaining decentralization and scalability. Avalanche is committed to providing developers with robust infrastructure to build the next generation of Web3 applications and services.

Important news about AVAX recently:

1️⃣ Large AVAX transfers may raise market concerns The QubeRT address transferred 220,000 AVAX to an exchange, valued at approximately $5.05 million. This batch of tokens was accumulated by the address two months ago at an average price of $24.7 from Galaxy Digital. If sold at the current market price, it would result in a loss of about $380,000. The large token transfer may raise market concerns about potential selling pressure, thereby affecting the short-term price performance of AVAX.

2️⃣ Bitwise Avalanche ETF listed by DTCC The Depository Trust & Clearing Corporation (DTCC) has listed the Bitwise Avalanche ETF, with the code BAVA. This development indicates that AVAX-related financial products are gradually gaining recognition from mainstream financial institutions, which is expected to attract more institutional investors to AVAX, benefiting its ecological development in the long term.

3️⃣ Market sentiment fluctuations impact AVAX short-term performance The price of AVAX has fallen by 1.66% in the last 24 hours, reflecting a slightly cautious current market sentiment. Combined with large token transfers and the progress of ETF products, investors may adopt a wait-and-see attitude in the short term, leading to a certain degree of price correction.

From a technical perspective, the AVAX price is showing a fluctuation between the range of 22-23 dollars and may continue to oscillate within this range in the short term. Investors should closely monitor the movements of large holders and the progress of institutional investment products to assess their potential impact on the mid to long-term trend of AVAX.

This message is not intended as investment advice; investors should be aware of the risks of market volatility.