AVAX, the native token of the Avalanche blockchain, suffered a significant decline this weekend, dropping more than 10% at one point. 📉 In the last 24 hours, the token dropped from $27.87 to $24.92. This represents a 37% decline in a month when altcoins were crushed by the crypto market pullback. 😱

Some are calling AVAX's decline "meaningless." Research chief Dr. “It doesn't make sense for the price of AVAX to snowball,” Martin Hiesboeck said, adding, “There is no one else with this growth momentum,” referring to Avalanche volumes. 🚀

Major game developer Konami is reportedly planning to launch Resella, an NFT platform built on the Avalanche blockchain. This could be big news for AVAX. 🎮

However, it is stated that a 'whale' is moving large amounts of AVAX to centralized exchanges. This caused AVAX's market cap to drop below $10 billion and its ranking below Shiba Inu (SHIB) and Tron (TRX).

What do you think about this drop in the price of AVAX? We are waiting your comments! 💬