Markets
What to know:
- Avalanche’s AVAX token fell 8% in 24 hours, bringing its weekly plunge to a satisfying 18%!
- Institutional interest-hello, $550 million plan from Nasdaq-listed AVAX One-did absolutely *nothing* to stop the downhill tumble.
- Weak support levels and low trading volumes suggest that maybe, just maybe, selling is starting to slow down. But don’t hold your breath on a recovery anytime soon!
In the latest episode of “Avalanche’s Struggles”, AVAX has fallen a whopping 8% in the last 24 hours to $27.72. This is part of a glorious weeklong streak where the token lost almost 18% of its value. Because, of course, it’s not just AVAX-ETH, SOL, DOGE, and BTC have also joined the pity party with double-digit declines. A truly *stellar* week for crypto, wouldn’t you agree? 🎉
AVAX has been desperately trying to break through the elusive resistance level of $30.28, but it’s as successful as trying to break into Fort Knox with a butter knife. Support, on the other hand, is weak and hanging by a thread at $27.65. Oh, and the trading volume? A delightful 121,896 tokens traded this Friday, proving that even institutional sellers have started to lose interest. Fancy that!
And just when you thought the Avalanche saga couldn’t get any more ridiculous, along comes a corporate initiative that’s meant to save the day. Enter AgriFORCE Growing Systems, who rebranded as AVAX One. They’ve promised to raise $550 million to acquire and hold AVAX tokens. A Nasdaq-listed company, solely focused on Avalanche. A truly revolutionary approach, if only the market cared. 😬
AVAX One, with its super glamorous advisory board (hello, Anthony Scaramucci and Brett Tejpaul), is going all-in on holding over $700 million in AVAX tokens. Their big plan? To position themselves as *the* go-to custodian for AVAX. Because why not bet on the digital equivalent of a snowball rolling downhill?
But, in true fashion, the market isn’t buying it. At all.
The plummeting price suggests that institutional backers are still a little wary about Avalanche’s long-term potential. All the regulatory approvals and partnerships in the world haven’t managed to inspire much confidence. Guess what? People still don’t believe the hype. Who knew?!
Avalanche’s roadmap, full of partnerships and grand ideas, is still being crushed under the weight of current market pressures. But hey, maybe next week will be different. Maybe pigs will fly. Who knows?
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2025-09-26 20:09