AVAX Goes Viral: Social Activity and Sentiment Skyrocket, Reveals Latest Data

Santiment Reports Notable Increase in Avalanche's Social Volume and Positive Sentiment Despite Price Pullback

Blockchain analytics firm Santiment has reported a significant increase in Avalanche’s social volume and positive sentiment during the current pullback in AVAX’s price. The tweet highlighted the contrast between the current high levels of social activity and sentiment compared to the low levels witnessed back in February this year when AVAX’s price had reached $21. Santiment’s tweet included a snapshot of AVAX’s current social activity and sentiment, which shows that the discussion rate and sentiment towards Avalanche have surged over the past four weeks. At the time the tweet was published, the data showed that the weekly AVAX discussion rate had jumped by more than 292%.

AVAX is ranked as the 15th biggest project in terms of market cap. However, AVAX’s price experienced a 2.05% drop in price over the last 24 hours according to CoinMarketCap. This has also flipped the weekly performance for AVAX into the red, taking its weekly price performance to -1.40% at press time. As a result of the most recent price movement, AVAX is currently trading at $17.87. In addition, AVAX’s market cap is estimated to be $5.788 billion.

AVAX was able to outperform the leading altcoin Ethereum (ETH) over the last 24 hours. Currently, AVAX is up 0.56% against ETH. Unfortunately, AVAX was unable to outperform Bitcoin (BTC), and is down 1.69% against the crypto market leader. AVAX is also currently trading nearer to its 24-hour low of around $17.73, with the altcoin’s daily high standing at $18.56 at press time.

It is important to note that the views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

In conclusion, Avalanche’s social volume and positive sentiment have surged over the past four weeks despite the current pullback in AVAX’s price. While AVAX was able to outperform Ethereum, it was unable to outperform Bitcoin. It is important for readers to conduct their own research and due diligence before taking any action.

Martin Reid

Martin Reid

Leave a Replay

Scroll to Top