Avalanche (AVAX) faces a token unlock of 9.54 million tokens on August 20.
Whales show accumulation behavior, while derivatives traders express bearish sentiment.
AVAX price consolidates between $20.43 and $22.79, with technical indicators suggesting continued sideways movement.
Avalanche (AVAX) stands at a critical juncture as it approaches a major token unlock event scheduled for August 20. This impending release of 9.54 million tokens, valued at approximately $251 million, has the potential to introduce substantial volatility into AVAX’s price action.
As market participants brace for this event, an intriguing divergence in sentiment between key stakeholder groups has emerged, painting a complex picture of AVAX’s near-term prospects.
On-chain analysis reveals a striking contrast between the behavior of large holders (whales) and the sentiment expressed in the derivatives market.
Avalanche shows negative funding rate
Santiment data indicates a negative Funding Rate fo
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