AVAX and LUNA coins are starting to resemble each other in terms of diving into deeper lows. But has the bottom been reached? It is difficult to make definitive judgments for altcoins while the negative trend in BTC price continues. As investors continue to remain indifferent to the risk of further losses, the volume weakness persists. Moreover, the fact that September has historically been prone to extreme sell-offs also undermines risk appetite.
AVAX Coin Reviews and Future Prospects
The initial circulating supply and the key opening plans of cryptocurrencies are two critical details to be taken into account. If you buy an altcoin listed on exchanges with only 1% of its supply, while the circulating supply grows, your initial investment may shrink. Those who do not pay attention to this in long-term investments cannot make sense of price declines. The inflation rate for AVAX Coin in 2023 was approximately 40%. It needed an additional 40% demand to underperform the general market. However, this did not happen and the AVAX price dropped below $9 again after years.
The price is now at this level for the first time since January 2021. If the selling pressure continues, it may drop further to $4.23 and $3.89. For the AVAX price to recover, we need to see a significant improvement in overall market sentiment.
On the other hand, the circulating supply will continue to increase. The supply, which is currently around 393 million, will exceed 411 million on December 6th. By the beginning of next year, it will surpass 430 million. At the end of 2024, the supply will reach 474 million, after which the growth rate will slow down.
LUNA Coin Review
With the collapse of the $40 billion ecosystem, the LUNA price is heading towards new all-time lows. As we have mentioned many times before, new ATL levels below $0.36 can be established. At the time of writing, the price is at $0.388. The management team is in trouble, Kwon is in prison, and there is no interest in the project. Moreover, even promising altcoins are experiencing a decline in demand in the midst of bear markets.
Under these circumstances, the LUNA Coin price can only rise in the hands of speculators. This is risky as it can result in leaving individual investors behind. However, if the $0.46 level is surpassed, a certain amount of growth can be observed depending on the overall market sentiment. Risk-loving investors can show interest in the LUNA price as if it were a game during intermediate rally periods.
