- Interest in liquid staking on the Avalanche network has declined over the past few days.
- Even as AVAX declined, activity on the network continued to grow.
According to recent data, the total avalanche [AVAX] The stakes soared to over 8 million. Even though AVAX stock has surged overall, we have observed a concerning trend over the past few days.
According to AMBCrypto’s review of Flipside data, the net flow of staked Avalanche has decreased significantly over the past few days.
Source: Flipside
The significant decrease in the net flow of staked Avalanche over the past few days may have a negative impact on the Avalanche network.
What’s going on with Avalanche?
The decrease in the net flow of staked tokens suggests that the total amount of AVAX staked or locked in validator nodes in the network is decreasing.
This decrease may indicate a lack of confidence among token holders in staking AVAX and may suggest concerns or uncertainty regarding the performance, security, or future prospects of the network. there is.
Despite the decline in liquid staking, activity on the Avalanche network continued to surge.
Analysis of Token Terminal data by AMBCrypto reveals that the number of daily active users on the network has increased by 29% over the past month.
Similarly, the revenue generated by the network increased by 10.5% over the same period.
Source: Token Terminal
Current status of AVAX
Regarding the price of AVAX token, since reaching the $65 level on March 18th, we have seen the price drop by 27.61%.
During this period, the price of AVAX showed a bearish trend with lower lows and higher highs. CMF (Chaikin Money Flow) and RSI (Relative Strength Index) were relatively neutral.
This could suggest that we may see some lateral movement in the future before AVAX makes a larger move.
Realistic or not, the AVAX market cap in BTC terms is:
A large part of AVAX’s price fluctuations may also be determined by how AVAX is perceived in society. Santimento data showed that social volume around AVAX had decreased significantly.
Furthermore, the weighted sentiment towards AVAX has also declined, suggesting an increase in negative comments towards the token.
Source: Santiment
