The price of Avalanche (AVAX) has been stagnant and underperforming compared to other cryptocurrencies. Avalanche is losing market share to other layer-1 networks like Sui and layer-2 blockchains like Arbitrum and Base. The number of active addresses on Avalanche has decreased significantly, indicating a loss of user momentum. The volume of stablecoins in the ecosystem has also decreased, while Tron and Ethereum have seen significant growth in stablecoin volume. Avalanche has also lost market share in the Decentralized Exchange (DEX) industry. Furthermore, Avalanche lacks market share in the meme coin industry dominated by Solana, Ethereum, and Tron. The network has seen a decline in the amount of fees collected and has ongoing token unlocks, leading to potential dilution and lower staking rewards. Technical analysis suggests a bearish outlook for the Avalanche price, with a potential support level at $17.37. However, if Bitcoin sees a resurgence, it could potentially fuel a rebound for altcoins like Avalanche and Solana.



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