{"id":28579,"date":"2023-08-22T22:55:04","date_gmt":"2023-08-23T02:55:04","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28579"},"modified":"2023-08-22T22:55:04","modified_gmt":"2023-08-23T02:55:04","slug":"99-5-of-avax-holders-in-loss-as-avalanche-bears-thirst-for-more-blood","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/22\/99-5-of-avax-holders-in-loss-as-avalanche-bears-thirst-for-more-blood\/","title":{"rendered":"99.5% Of AVAX Holders In Loss, As Avalanche Bears Thirst For More Blood"},"content":{"rendered":"

The Avalanche token (AVAX), like most other altcoins, felt the bearish impact of the general market downturn, which resulted in a billion-dollar liquidation in the crypto market. Historical price data, however, shows that AVAX has been experiencing selling pressure<\/a> long before this recent market crash.<\/p>\n

As expected, the struggling price of the Avalanche token has also been reflected in the portfolio of the cryptocurrency\u2019s investors, who seem to be drowning in losses at the moment.<\/p>\n

AVAX Holders In Profit Reach All-Time Low: IntoTheBlock<\/h2>\n

On Tuesday, August 22, market intelligence platform IntoTheBlock revealed \u2013 via a post on X<\/a> (formerly Twitter) \u2013 that the number of AVAX holders in profit is at an all-time low.\u00a0<\/p>\n

According to IntoTheBlock data, approximately 99.5% of AVAX holders are at a loss. This metric implies that nearly all investors in this cryptocurrency bought at a higher price and are currently holding at a loss due to the sustained bearish trend.<\/p>\n

From a historical perspective, AVAX holders have witnessed similar levels of loss in the past, albeit not to this extent. The on-chain tracker reported that the number of AVAX holders in profit was almost as low in June and December 2022.<\/p>\n

It is worth noting that these losses are unrealized, and they only become real when the Avalanche tokens \u2013 being held \u2013 are traded off. Although a high number of crypto holders in loss is not exactly a positive signal, it can be an indication that investors are yet to lose faith in a token and may even be banking on a recovery.<\/p>\n

Avalanche Price Dips 17% In A Single Week<\/h2>\n

As mentioned earlier, the AVAX price has been struggling long before the recent market downturn, down by 52% from its yearly high of 21.37%. Unfortunately, the Avalanche market has been in a steep decline since notching a swing high in April.<\/p>\n

In the past week, which coincided with the $1-billion market liquidation, AVAX has lost more than 17% of its value. Furthermore, a broader look at the market data shows that the token is on a nearly 25% decline in the last 30 days.<\/p>\n

The future doesn\u2019t look particularly bright for AVAX, especially with its upcoming token unlock event<\/a>. A total of 9.54 million tokens is set to be unlocked on August 26, with a large portion of the unlocked tokens expected to hit the open market, potentially exacerbating the struggles of the Avalanche price.<\/p>\n

According to CoinGecko data, AVAX is currently valued at $10.20, registering a 3.5% price decline in the past 24 hours. With a market cap of roughly $3.52 billion, the Avalanche token ranks as the 22nd-largest cryptocurrency in the market.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The Avalanche token (AVAX), like most other altcoins, felt the bearish impact of the general market downturn, which resulted in a billion-dollar liquidation in the crypto market. Historical price data, however, shows that AVAX has been experiencing selling pressure<\/a> long before this recent market crash.<\/p>\n

As expected, the struggling price of the Avalanche token has also been reflected in the portfolio of the cryptocurrency\u2019s investors, who seem to be drowning in losses at the moment.<\/p>\n

AVAX Holders In Profit Reach All-Time Low: IntoTheBlock<\/h2>\n

On Tuesday, August 22, market intelligence platform IntoTheBlock revealed \u2013 via a post on X<\/a> (formerly Twitter) \u2013 that the number of AVAX holders in profit is at an all-time low.\u00a0<\/p>\n

According to IntoTheBlock data, approximately 99.5% of AVAX holders are at a loss. This metric implies that nearly all investors in this cryptocurrency bought at a higher price and are currently holding at a loss due to the sustained bearish trend.<\/p>\n

From a historical perspective, AVAX holders have witnessed similar levels of loss in the past, albeit not to this extent. The on-chain tracker reported that the number of AVAX holders in profit was almost as low in June and December 2022.<\/p>\n

It is worth noting that these losses are unrealized, and they only become real when the Avalanche tokens \u2013 being held \u2013 are traded off. Although a high number of crypto holders in loss is not exactly a positive signal, it can be an indication that investors are yet to lose faith in a token and may even be banking on a recovery.<\/p>\n

Avalanche Price Dips 17% In A Single Week<\/h2>\n

As mentioned earlier, the AVAX price has been struggling long before the recent market downturn, down by 52% from its yearly high of 21.37%. Unfortunately, the Avalanche market has been in a steep decline since notching a swing high in April.<\/p>\n

In the past week, which coincided with the $1-billion market liquidation, AVAX has lost more than 17% of its value. Furthermore, a broader look at the market data shows that the token is on a nearly 25% decline in the last 30 days.<\/p>\n

The future doesn\u2019t look particularly bright for AVAX, especially with its upcoming token unlock event<\/a>. A total of 9.54 million tokens is set to be unlocked on August 26, with a large portion of the unlocked tokens expected to hit the open market, potentially exacerbating the struggles of the Avalanche price.<\/p>\n

According to CoinGecko data, AVAX is currently valued at $10.20, registering a 3.5% price decline in the past 24 hours. With a market cap of roughly $3.52 billion, the Avalanche token ranks as the 22nd-largest cryptocurrency in the market.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-28579","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=28579"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28579\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28579"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}