Avalanche
Why Avalanche is down 4.2% today
Analysis
Avalanche (AVAX) fell 4.2% over the past 24 hours as negative sentiment around the Avalanche ecosystem weighed on the token. CoinDesk reported that AVAX One, a Scaramucci-linked vehicle, tumbled about 32% amid uncertainty over potential shareholder sales, which likely increased near-term selling pressure concerns for related AVAX exposure.
Contributing Factors (1)
Anthony Scaramucci-linked AVAX One tumbles 32% on uncertainty around shareholder sales
The firm, which holds AVAX tokens and related Avalanche ecosystem assets, registered roughly 74 million shares held by insiders.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.