#avax雪崩

#avax雪崩 Reasons for AVAX's recent decline:

Entity transfers tokens: According to on-chain detective ZachXBT, AVAX's decline may be related to an entity transferring a large number of tokens (about 1.96 million, worth about $54.2 million) to exchanges such as Coinbase, Binance, and Gate. This large-scale token transfer may have triggered market concerns, which in turn led to a price drop.

Technical chart performance: AVAX showed a clear downward trend on the technical chart. For example, its RSI (Relative Strength Index) showed a downward trend, which reflects that AVAX's bullish momentum has weakened significantly in recent times. In addition, CMF (Chaikin Fund Flow) also fell along with RSI, meaning that more funds were withdrawn from the AVAX market than inflows.

Social media sentiment: AVAX's performance on social media also had an impact on its price. Although the volume of social discussions remained stable, the weighted sentiment fell sharply, meaning that negative comments overwhelmed positive comments. This could lead to a decline in investor confidence, further driving prices down.

Declining network activity: The popularity of the Avalanche protocol and its adoption have declined. For example, the number of active addresses on the Avalanche network has decreased significantly, and network transaction activity has declined simultaneously. These trends indicate that users are losing interest in Avalanche, which may have a negative impact on the price of AVAX.

Market sentiment and global money supply: Although there is a view that the price of cryptocurrencies such as Bitcoin will rise as the global M2 money supply changes, market sentiment may have a more direct impact on the price of tokens such as AVAX in the short term. In the case of poor overall market sentiment, tokens such as AVAX may face downward pressure.