Avalanche (AVAX) Price Rises as Whales AccumulateAvalanche’s (AVAX) price hit a multi-month low
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following bearish market conditions, but this did not last long.Increased bullish whale activity and improved market conditions substantiate the potential for recovery.Avalanche Whales Attempt to Influence the PriceAvalanche’s price could be benefitting largely from the bullishness exhibited by the whales. These large wallet holders have been on an accumulation spree over the last two weeks.Since whale addresses are some of the most important cohorts of investors, their move also influences the price action. Accumulation leads to a rise in price, whereas selling results in a drawdown.During this time, the whale addresses acquired $139 million worth of AVAX in just one day. This buying spree indicates strong interest and confidence among large investors in the altcoin’s potential.In addition to this substantial whale activity, AVAX’s correlation to Bitcoin remains strong, currently standing at 0.88. A high correlation often suggests that AVAX’s price movements will closely follow those of BTC.
