Avalanche (AVAX/USD) is experiencing a surge in interest from traders as the cryptocurrency market sees a notable rise in institutional participation. With AVAX currently priced at $34.98 and a market capitalization of approximately $14.8 billion, the digital asset has gained 17.5% over the past week. In comparison, other major cryptocurrencies—such as Ethereum (ETH/USD) and Solana (SOL/USD)—have displayed less favorable trends, with Ethereum falling by 5.7% and Solana decreasing by 5.6%.
Trader sentiment seems to be significantly bullish regarding Avalanche. According to Polaris XBT, the cryptocurrency has shown resilience by successfully retesting its trading range and subsequently making a substantial upward move. They highlighted Avalanche’s outperformance relative to other altcoins and its potential for further increases.
Bluntz Capital has also pointed out Avalanche as an appealing buyback choice, especially following a recent period of liquidation that they noted could set the stage for a swift and strong price rebound.
Data from Lookonchain paints a vivid picture of the bullish sentiment surrounding AVAX, particularly among large investors, or “whales.” One reported address initiated a 5x long position on 514,906 AVAX, which is currently valued at around $17.2 million, showing a profit of $920,000. Another trader, associated with World Liberty Financial, has taken a 10x long position on 66,479 AVAX, worth an estimated $2.2 million.
In the past 24 hours, liquidation activity has spiked, with a total of $5.38 million in Avalanche liquidations reported, including $3.96 million from short positions being forcibly closed following the price surge.
Community developments are also noteworthy. AgriFORCE Growing Systems Ltd, now rebranded as AVAX One, has raised $550 million to acquire additional Avalanche tokens and aims to hold over 700 million AVAX. This strategy is intended to position the company as a key player within the Avalanche ecosystem.
Anthony Scaramucci, founder of SkyBridge Capital and strategic advisor for AVAX One, endorsed Avalanche as a leading platform for institutional engagement, stating, “Avalanche has clearly become the institutional-grade platform for this shift, and SkyBridge has already committed to tokenizing on the network.”
As interest continues to mount, traders and investors are closely watching Avalanche’s trajectory in the evolving cryptocurrency landscape.
