In the past 24 hours, Avalanche whales have increased their activity in the cryptocurrency space, showing significant transaction volume growth. This situation indicates considerable interest from major holders.
Surge in Avalanche Whale Activity
Avalanche whales (AVAX) demonstrate a noteworthy increase in activity, raising transaction volumes by 189% over the last day. This emphasizes the interest of large investors in this cryptocurrency.
Comparison with Other Cryptocurrencies
According to IntoTheBlock data, transaction volumes on Avalanche have surpassed that of other crypto assets such as Ethereum and Cardano. Ethereum whales increased their transaction volume by 114%, while Cardano whales saw a decline of 9%.
Market Expectations and Forecasts
With increased whale activity, market participants anticipate that this may signal a potential price reversal. Despite a recent 5.06% decline over the past week, analysts note that if AVAX can hold above $18, it may lead to a breakout towards levels above $20.
Amidst the activation of Avalanche whales and the prospect of rising prices, this cryptocurrency remains in the spotlight for both traders and analysts. It is crucial to monitor its developments in the coming days.
