Avalanche
Why Avalanche is down 1.3% in the last hour
Analysis
Avalanche (AVAX) slipped about 1.3% over the past hour as traders digested news that the first Avalanche ETF has begun trading in the US, following VanEck’s launch of an AVAX-focused fund. Despite the headline being structurally positive, the initial market reaction can still skew short-term as positioning adjusts around the ETF debut and early flow expectations.
Contributing Factors (1)
First Avalanche ETF hits US markets as VanEck launches AVAX fund
The first fund to track the Avalanche's AVAX token and include staking rewards debuted Monday with the launch of the VanEck Avalanche ETF.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.