The brutal bear market in crypto has significantly affected the price of AVAX. The latest downturn not just extended its weekly losses beyond 17% but also pushed the crypto asset to a multi-year low of $10.14.
As a result, the number of AVAX holders in profit has reached an all-time low. Nearly 99.5% of the investors who own Avalanche’s native token are currently at a loss. According to IntoTheBlock’s latest findings, this isn’t the first time the asset has witnessed similar levels. Previous lows were recorded in June following the dual implosion of Terra’s UST and LUNA, followed by December, a month after FTX’s bankruptcy.that it is the first time that nearly all AVAX holders are holding at a loss.
The AVAX ecosystem had several crucial developments this year. This includes Alibaba Cloud – a subset of Chinese e-commerce conglomerate Alibaba – joining forces with Avalanche for awith MasterCard, a collaboration that was aimed at helping the payments giant strengthen its foothold in the Web3 space.a $50 million initiative – Avalanche Vista – to invest in real-world asset tokenization.a surge in transactions and active users on Avalanche.
In fact, AVAX is currently under significant pressure, and the upcoming token unlock worth approximately $99 million, which is slated to be
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