A recent report by blockchain analytics firm Santiment (@santimentfeed) suggests that social activity and positive sentiment towards Avalanche (AVAX) have been increasingly rising despite the pullback of the crypto asset’s price. The social volume and sentiment have grown substantially since the time when the asset hit its all-time high of $21 in February 2021. According to Santiment, during the past four weeks, AVAX’s discussion rate rose 292%, resulting in a wave of enthusiasm and confidence in the platform.

AVAX’s current trading value hovers around $17.87. Taking into account its market cap of $5.788 billion, it stands as the 15th largest crypto asset. Unfortunately, AVAX experienced a drop of 1.69% against the leading cryptocurrency Bitcoin (BTC). But at the same time, it managed to surge by 0.56% when pitted against Ethereum (ETH).

This data comes as good news for AVAX as the social activity and sentiment around the asset shows that the investors/traders remain interested, confident and hopeful of a resurgence of the asset despite its current undervalued price. The social media discussion around AVAX’s future appears to remain bullish with many traders expecting the asset to breach its ATH in the near future.

Long term investors have welcomed this news as the rise in discussion rate and sentiment suggest that the market remains active and that there is a need for more information about AVAX and its potential gains. This also serves as a reminder that price is not the only factor that should be taken into consideration when assessing an asset’s overall performance. Now more than ever, investors should pay extra attention to the strength of the asset's technology and community.



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