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Avalanche drops by 25%; will AVAX holders stay loyal despite the unrest

Press Releases Crypto News AMB-Crypto Avalanche drops by 25%; will AVAX holders stay loyal despite the unrest

Almost 100% of AVAX holders plunged into losses.
While volatility remains high, traders continue to overlook AVAX contracts.

“They say this is a big rich town. I just come from the poorest parts.” These lyrics coined from 50 Cents’ Big Rich Town perfectly matches the state of Avalanche [AVAX] whose holders have had to deal with losses for a long period.

Compared to the other cryptocurrencies in the top 20 per market cap, AVAX seemed to be the only one in this state.

Is your portfolio green? Check the Avalanche Profit Calculator

And while these holders may have hoped for respite, that has not been the case. To make matters worse, IntoTheBlock data showed that 99.5% of AVAX holders were now holding the token at a loss.

No result for diamond hands

Although holders of AVAX have held the token through thick and thin, this is the first time that almost 100% of the holders would have no profit to show for their loyalty. Undeniably, AVAX’s price performance this year has been largely responsible for the current condition.

In the last 90 days, AVAX has lost 25.70% of its value. On a Year-To-Date (YTD) basis, it has not been any better, decreasing by 51.16% in the process. Besides its price action, other parts of the Avalanche ecosystem have been the same— sometimes, worse off.

One such case was Avalanche’s Total Value Locked (TVL). Used to measure the total value of digital assets staked or locked in a distributed application, the TVL shows how much trust investors have in a protocol. At the time of writing, Avalanche’s TVL was down to $536.12 million— an 18.55% decrease in the last month.

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Author: Victor Olanrewaju

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