AVAX Whale Transactions Surge by 98% Signaling Market Interest

Whale Activity on the Rise

A surge in whale transactions for AVAX has been noted, with a 98% increase in large transactions, totaling $226.19 million over the last 24 hours. This indicates growing interest among large investors in AVAX despite price struggles.

Active Addresses Decline

Despite the rise in whale activity, there has been no significant change in the number of active addresses. This suggests that while large investors are making moves, smaller retail traders remain cautious, possibly waiting for clearer market signals.

Liquidation Data Signals Bullish Bias

Coinglass data shows a bullish sentiment for AVAX, with $23 million at risk of liquidation if the price reaches $31. Traders are displaying confidence in short-term price increases, hinting at potential market recovery.

AVAX Price Testing Key Support Level

Currently, AVAX is testing a critical support level at $25.13 after a recent 22% decline. The upcoming days will be crucial as the altcoin aims to maintain this support level to avoid further decline and potentially initiate a reversal.

Overall, while whale activity may push AVAX’s price higher, sustained price recovery will require more than just large transactions. Attention is focused on reaching the $31 level, where significant liquidation pools are anticipated.