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HashKey Exchange, the first compliant exchange licensed as a retail virtual asset provider by Hong Kong, went live today, Monday August 28, 2023. The exchange opened with access to Bitcoin, Ethereum, USDT and USDC trading pairs for retail investors, with these being BTC/USD, ETH/USD and USDT/USD.
HashKey Exchange has unveiled its plans to introduce MATIC/USD and AVAX/USD trading pairs catering to professional investors.
Binance plan to remove several liquidity pools from its Liquid Swap platform, aiming to improve trading experience. The removal will take effect on September 1, 2023.
AVAX has been in a downtrend since the latter half of April, and the market structure has been bearish on the 1-week chart since early June.
AVAX, the native currency of the Avalanche blockchain, is trading at new 2023 lows at the time of writing on August 26. Trading at $10, the coin is down 55% from 2023 highs and roughly 25% alone in August 2023.
In the ever-evolving landscape of cryptocurrency markets, Avalanche (AVAX) finds itself grappling with a series of obstacles as it strives to regain its footing. A recent in-depth analysis of the daily timeframe chart has shed light on sustainability concerns surrounding AVAX's price trajectory, particularly within the context of the demand zone.
AVAX price today attempts another breakdown below the crucial $10 psychological mark. With an intraday fall of 1.10%, a bearish candle cracks below $10 and forms a low of $9.91. Closing below $10 will mark a strong downtrend and increase the bearish sentiment around Avalanche in the market.
For investors looking at Ethereum or Etheruem alternatives, here are three of the top cryptos to consider right now.
Avalanche (AVAX) is experiencing one of its lowest periods in history as many of its holders are recording massive losses, according to on-chain data from crypto analytics platform IntoTheBlock (ITB).
Amidst Avalanche's once-promising ascent, most holders now clutch a bearish reality. Over 90% face losses while development thrives and trading volume wanes, painting a complex landscape.
Bearish headwinds have gripped the Avalanche community ahead of the upcoming $97.4 million token unlock slated for August 26. Historical on-chain data analysis explores previous unlock events to predict how Avalanche (AVAX) price could react in the coming days.
Avalanche (AVAX) is gearing up for a significant unlock event that has sparked speculation among investors. The past month has witnessed a prevailing bearish sentiment, with volume indicators suggesting that the buying pressure might not be robust enough to counter the crypto's prevailing losses.
Despite holding AVAX through thick and thin, the token has offered almost nothing to its faithful. So, what's the current sentiment around AVAX?
At the conclusion of the most recent trading day, AVAX's price experienced a modest decline of 4.09%, ultimately landing at a value of $10.30. While this dip might appear relatively minor, it has captured the attention of individuals closely monitoring the cryptocurrency market.
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 long before this recent market crash.
AVAX has lost nearly 50% of its value since the beginning of 2023.
The RSI on the 2-hour chart outlined strong bearish momentum. The OBV continued to slide lower and the CMF showed sizeable capital outflow from the Avalanche market.
The unlocked AAVE coins are currently worth almost $99 million.
The top 100 alts have a new representative in the face of Akash Network's AKT after a 12% daily surge.
This week, the spotlight is on three major crypto projects: Avalanche, Lido, and Yield Guild Games, as they prepare to unlock a combined value of more than $120 million in tokens.
The circulating supply of various projects' tokens is expected to be impacted by a number of significant token unlocks this week.
While most altcoins are looking toward a recovery from the recent market crash, the AVAX price seems to be gearing up for the opposite. The reason behind this is the massive token unlock that is set to occur this week, which will undoubtedly place more sell pressure on the already struggling price of the digital asset.
Amidst price challenges, Avalanche readies for a significant unlock event. Despite recent declines, the unlock introduces intrigue and potential impact.
