Avalanche Plummets Double-Digits
Avalanche Plummets Double-Digits
Crypto Meltdown Continues
adrian ondachchi Answered question May 19, 2022
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 May 19, 2022
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.