The number of validators on the Avalanche blockchain has been increasing, with a staking ratio of 60.82%, with 1289 validators participating. At the same time, despite strong activity in the social metrics, the daily active addresses on the blockchain have dropped significantly, from 587k to 178k. Avalanche has a current market cap of over $5 Billion, with the asset trading around $15.38.

The volatility of the AVAX asset over the last 30 days has been constant and the correlation of AVAX with ETH is 0.86. The downside momentum of the price of Avalanche has led to a consolidation at the value of $14 and resistance on the uptrend has been witnessed at $16.5. The Relative Strength Index of the asset is currently at 36 and shows an oversold condition.

In regards to the recent changes, the GOGO pool was recently launched as a solution by Avalanche which reduces the cost of operating validator’s nodes. As of now, AVAX is trading at a lower level than its 50 and 100 day Moving Averages, with a negative crossover. This is a sign of further depreciation in its price.

Overall, the analysis of the performance of Avalanche shows some potentially weak conditions in the near future. Investors should take into account how the project’s active addresses are declining and the oversold condition of the asset, when making investment decisions. It is important to take these data into consideration in order to make educated decisions regarding the asset.



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