Avalanche’s AVAX Drops 18% Despite Institutional Support Efforts
Avalanche's token, AVAX, dropped 8% in the last 24 hours to $27.72, continuing a week-long decline of nearly 18%.
This decrease is part of a broader crypto market downturn affecting ETH, SOL, DOGE, and BTC.
AVAX has not surpassed the resistance level at $30.28 and shows weak support around $27.65.
Trading volume fell to 121,896 tokens, indicating slowed but ongoing institutional selling.
AgriFORCE Growing Systems rebranded as AVAX One, planning to raise $550 million for acquiring and holding AVAX, and became the first Nasdaq-listed company focused on Avalanche’s ecosystem.
The advisory team includes Anthony Scaramucci from SkyBridge Capital and Brett Tejpaul from Coinbase Institutional.
AVAX One plans to hold over $700 million in AVAX to establish itself in Avalanche's development.
Despite initiatives, institutional investors remain cautious, and regulatory approvals are pending, affecting buying momentum.
Avalanche’s roadmap features partnerships and enterprise applications, but these have not yet mitigated current selling pressure.
