In the last 24 hours, the price of Avalanche [AVAX] has increased by 13.60%, according to data from CoinMarketCap.
As a result, the 9th-ranked cryptocurrency was the best-performing asset out of the top 10. But that’s not the area where it gets juicy.Using IntoTheBlock’s data, we also observed that 15% were in loss while the remaining 2% were at a breakeven point.AVAX’s price increase could be linked to many factors. But AMBCrypto was able to identify some of them. As of this writing, large transactions on the Avalanche network have increased.
At press time, AVAX changed hands at $64.16. This was the highest point the cryptocurrency has hit since May 2022.To have an idea of the dynamics, we focused on the aggregate Cumulative Volume Delta data. The CVD is a metric used to analyze the difference betweenThis rise is considered a bullish signal that could drive AVAX prices higher.
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