Avalanche ($AVAX), which reached a yearly high of approximately $64 in March 2024, has experienced a significant price decline, falling 61% to its current trading price of $25.
This downturn has affected a large portion of AVAX investors.
Data from @Intotheblock reveals that 4.37 million addresses, representing 52% of all $AVAX token holders, are “out of the money.”
This term refers to addresses where the current market price of AVAX is lower than the average cost at which the tokens were acquired. These investors are holding $AVAX at a loss compared to their initial purchase price.
Over 47.88% Of $AVAX Holders Are Still In Profit Despite Recent Declines
On the flip side, 47.88% of AVAX holders, or around 4 million addresses, are “in the money.” This means these investors hold AVAX at a price higher than their average purchase cost, reflecting profitable positions despite the recent price decline.
Avalanche $AVAX reached a yearly high of approximately $64 in March 2024. Since then, its price has continuously declined by 61%, now trading at $25.
Data from @Intotheblock reveals that 4.37 million addresses, representing 52% of all AVAX token holders, are “out of the money.”… pic.twitter.com/xsgCtSssWZ
— Slim Daddy𓃵 ₿ (@felixreads) June 25, 2024
The stark contrast between these two groups highlights the mixed sentiment among $AVAX holders. While a significant portion of the community is facing losses, nearly half are still in a profitable position. This dynamic could influence future trading behavior and market trends for $AVAX.
The sharp decline in AVAX’s price from its peak underscores the volatility and risk inherent in the cryptocurrency market. Investors are urged to stay informed and consider these factors when making investment decisions.
As the market continues to evolve, the performance of AVAX will be closely watched. The data suggests that despite the current downturn, a substantial number of investors remain in the green, potentially indicating a base of long-term believers in the project’s potential.
For now, the community awaits signs of recovery or further developments that could impact $AVAX’s market dynamics.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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