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Bitcoin and the world of cryptocurrency experienced a volatile and intense day today. Bitcoin‘s price reached a new peak, hitting $69,990. This new peak brought with it rapid movements in candlestick charts, with liquidations exceeding $100 million in both long and short positions. When the BTC price pulled back, it also impacted Avalanche (AVAX) and ADA coin. Let’s look at the price levels.
Current Status of Avalanche (AVAX) Price
In the last 24 hours, the price of Avalanche (AVAX) fell by 3.69%, dropping to $42.36. The chart below compares the price movement and volatility of the altcoin Avalanche over the last 24 hours (on the left) with that of the previous week (on the right). The gray bands are Bollinger Bands, which measure volatility for both daily and weekly price movements. The wider the bands or the larger the gray area at any given time, the greater the volatility.
The trading volume of the cryptocurrency Avalanche increased by 9.0% over the past week, while the circulating supply of the coin also saw a 0.2% increase. This brings the circulating supply to 377.30 million, which is approximately 52.4% of the estimated maximum supply of 720.00 million.
Current Status of Cardano (ADA) Price
In the past 24 hours, the price of altcoin Cardano (ADA) fell by 3.9%, dropping to $0.72. This represents a reversal from the positive trend of the previous week, where it gained 6.0% after passing the $0.69 mark. The chart below compares the price movement and volatility of the altcoin Cardano over the last 24 hours (on the left) with that of the previous week (on the right).
The trading volume of the cryptocurrency ADA fell by 6.0% last week, while the circulating supply of ADA coin increased by 0.56%. This brings the circulating supply to 35.18 billion, which is approximately 78.17% of the estimated maximum supply of 45.00 billion.
What Can Be Expected Going Forward?
Both ADA coin and AVAX are still far from their peak prices. Based on peak prices, there is still a way to go. However, they seem to be lagging behind their counterparts.
If expectations are met, the cryptocurrency AVAX has a 3x journey ahead. For ADA coin, there is approximately a 5x path. However, this depends on the continuation of positive sentiment in the crypto market. Of course, Bitcoin will also play a determining role.
