AVAX Sees 12% Price Jump As Grayscale Launches Avalanche Trust

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AVAX, the native token of layer-1 blockchain Avalanche, has seen a rise of 12% in the past 24 hours, making it a top performer among the top 100 cryptocurrencies by market capitalization.

After nearly six months of decline, Avalanche’s price appears to be in the early stages of a potential trend reversal. On Aug. 5, the token hit a nine-month low of $17.29. However, over the past two weeks, it has gained 48%, reaching $25.78.

At the time of writing, AVAX’s daily trading volume was around $511 million, with a market capitalization of $10.4 billion, according to data from CoinStats.

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