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Avalanche (AVAX) has recently emerged as a standout performer in the cryptocurrency space, trading within an ascending channel that began on August 6. This pattern follows a significant market downturn on August 5, which saw over $1 billion in leveraged positions liquidated.
Data from Token Unlocks revealed that four major token unlocks were scheduled for August between the 19th and the 25th. According to Token Unlocks, 54 million PIXEL and 9.54 million AVAX would be released on August 19, while 18.94 million ID and 14.89 million ENA would be released on August 22 and August 25, respectively.
Ava Labs COO's X account promoted a suspicious memecoin project and posted links to fake AVAX giveaways. Users soon realized the account was hacked and warned others on the platform.
Avalanche price, a layer-one blockchain, is facing a challenging market environment. The altcoin is trading in a narrow range and struggling to mount a recovery.
Luigi D'Onorio DeMeo, COO of Ava Labs, had his X account hacked. The account also disabled comments to prevent others from posting warnings.
The X account of Ava Labs COO Luigi D'Onorio DeMeo was suspected of being hacked after it posted about a Pokémon-themed memecoin and suspicious airdrop links
Avalanche (AVAX) began trading within an ascending channel on August 6, following the broader market downturn on August 5, which resulted in over $1 billion in leveraged positions being liquidated.
The X account of Ava Labs' operating chief, Luigi D'Onorio DeMeo, has been touting memecoins and other suspicious links, prompting many to warn it's likely a phishing scam.
Ava Labs COO Luigi D'Onorio DeMeo's X account was hacked and used to post false token launch information.
Avalanche surges on-chain as AVAX consolidates above a critical support level.
Major XRP rivals are gaining traction among crypto participants as the recent conclusion of the long-running Ripple vs. US Securities and Exchange Commission (SEC) case failed to ignite the expected rally.
Crypto whales loaded Litecoin, Polygon, and Avalanche in the second week of August, LTC reacted bullishly to it otherwise MATIC and AVAX remained down. Looking at the whale's choices over the week wherein last week was for XRP, ONDO, and ADA, Coinpedia markets analysis plots market recovery signals.
Despite a relatively choppy market, crypto whales still splashed their cash on some altcoins this week. According to BeInCrypto's analysis, their choices suggest optimism that the broader market could experience a substantial recovery soon.
Bitcoin bulls are holding on to the $55,500 support, but an increase in futures open interest and a death cross on the BTC chart have traders worried that further downside is in store.
The price of Avalanche (AVAX) has resumed its downtrend after briefly rising above the $19 support level. Price analysis by Coinidol.com.
The cryptocurrency market is currently experiencing a significant resurgence, marked by solid gains across various digital assets. This positive sentiment is largely driven by renewed investor confidence and optimistic market conditions.
Avalanche, a prominent player in the cryptocurrency space, has faced considerable hurdles recently. The cryptocurrency market as a whole has been struggling, and Avalanche's performance has mirrored these broader trends.
Avalanche's price has seen a modest recovery, trading at $21.07—up 2.05% from its recent lows. The market capitalization of AVAX has risen to over $8.2 billion, and its trading volume has surged by 30%, indicating growing investor interest and readiness for a potential price rally.
Bitcoin is finding it difficult to rise above the overhead moving averages, indicating that the bears are trying to flip the level into resistance.
Some of the altcoins have put on great gains since the fall-out over the yen carry trade. Binance Coin ($BNB), Toncoin ($TON) and Avalanche ($AVAX) are rallying hard.
Avalanche (AVAX) will undergo another token unlock on August 20. This increase in supply, a notable event, could impact AVAX's price as it has in the past.
Crypto analyst Kaleo suggests that AVAX's recent price trends could signal an impending significant rally.
Explore the top 5 Real World Asset tokens with 100% profit potential amid market volatility. Discover why Avalanche, Maker, Ondo, MANTRA, and Axelar are must-watch coins for the next two months.
Avalanche (AVAX) has caught the attention of crypto analysts Whales_Crypto_Trading and Alan Santana. The market sentinels are rather optimistic regarding the price of AVAX, but it may face some consolidation periods and, therefore, possible declines in its price before skyrocketing.
