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Avalanche’s native cryptocurrency, AVAX, has seen a sharp decline, dropping 8% in the past 24 hours to $27.72, extending a weeklong slide that erased nearly 18% of its value. The selloff mirrors the broader weakness in the crypto market, with major tokens including Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Bitcoin (BTC) also facing significant losses. Over the past week, BTC fell 6%, while altcoins posted double-digit declines.
AVAX has repeatedly failed to break above its resistance at $30.28, finding only fragile support around $27.65. According to CoinDesk Analytics, trading volume dropped to just 121,896 tokens in early Friday trading, indicating that while institutional selling pressure may be slowing, buyers have yet to return in force.
The decline comes at a time when Avalanche’s ecosystem is drawing increased corporate interest. Earlier this week, agricultural tech firm AgriFORCE Growing Systems rebranded as AVAX One, unveiling plans to raise $550 million to acquire and hold AVAX tokens. If successful, this would make it the first Nasdaq-listed company dedicated solely to the Avalanche blockchain.
AVAX One is positioning itself as a key institutional player in the Avalanche network, supported by a prominent advisory team led by Anthony Scaramucci (SkyBridge Capital) and Brett Tejpaul (Coinbase Institutional). The company has set a goal of holding over $700 million in AVAX, aiming to become a cornerstone custodian for the token’s future adoption.
Despite these high-profile initiatives, the market has yet to respond positively. Analysts suggest that regulatory uncertainty and ongoing macro-driven selloffs continue to weigh on sentiment. While Avalanche’s roadmap includes enterprise partnerships and use cases, these fundamentals have not been enough to counteract the current bearish momentum.
For now, traders remain cautious, and Avalanche’s short-term outlook will depend on whether institutional demand materializes to stabilize prices.
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