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
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