[Analysis of AVAX: How does MVRV rise and the opportunity to rise comes? 】

Bitcoin has reached $73,500 over the past three days, driving some altcoins higher, but Avalanche (AVAX) remains in a monthly downtrend, currently quoted at $26, down 4.07% over the past week and 8.3% monthly.

Cryptoquant analyst Burak Kesmeci believes that Avalanche is undervalued, noting that its MVRV ratio of 0.82 indicates that the asset is cheap. Historically, when AVAX's MVRV exceeds 1, it often means that prices may rise, but it should not exceed 1.11, otherwise it will enter the overheating zone.

In addition, Avalanche's large transaction volume increased from 1.87 million to 6.71 million, showing that large investors and institutions are continuing to accumulate. At the same time, its total address count increased to 9.13 million, and its daily active addresses also increased to 86,300, showing that the market fundamentals are solid, but the price does not reflect its potential.

If MVRV continues to rise, AVAX has a short-term target of $30.8; if bearish sentiment persists, the price could fall back to $24.

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#鴉快訊 $AVAX @Avalanche_CN