Avalanche Plummets Double-Digits
Terra foundation had avax reserves, market was already down and as they liquidated their assets to save ust, avax took double damage
Reshantha De silva Posted new comment
I remember when avax was $2-4 per coin. There’s probably extra pressure due to the UST situation where they held a shit load of avax in reserve. It may be down 80% from ath but this is what happens to coins not named BTC or ETH during bear markets.
They held a bit short of 100M, and it has a market cap of almost 8bn. Noticeable? Sure. But not enough to really hurt it.