Interest in Liquid Staking on the Avalanche network has decreased in recent days as activity on the network continued to grow despite a fall in the AVAX token price. According to recent data, the total amount of AVAX at stake exceeded 8 million, yet a worrying trend in the net flow of Avalanche staked tokens was observed in recent days.
The decline in net Avalanche staked flow could have negative implications for the Avalanche network, suggesting a lack of confidence among token holders in staking their AVAX. This may indicate concerns about the network’s performance, security, or future prospects.
Despite the decrease in liquid bets, activity on the Avalanche network has been increasing, with the number of daily active users growing by 29% over the last month and revenue generated by the network increasing by 10.5% during the same period.
As for the AVAX token price, it has fallen by 27.61% since reaching the $65 level on March 18, showing a bearish trend. The CMF and RSI indicators were relatively neutral, implying potential sideways movement in the future.
The market capitalization of AVAX in terms of BTC is a key factor in its price movement, along with its social perception. Santiment data indicated a significant decrease in social volume around AVAX and a fall in weighted sentiment, suggesting an increase in negative comments about the token.
The overall situation with AVAX and its staking activity is a topic of concern, with implications for the network’s performance and token price. Investors and stakeholders will be closely monitoring the situation to assess the future prospects of the Avalanche network.