Avalanche is trading around $9.07, down 3.35% in 24 hours, and the price weakness is only part of the story. On-chain data showing $180 million worth of AVAX sent to Coinbase over the past six months is raising uncomfortable questions about who is selling and why.
The figure represents approximately 1.88% of AVAX’s circulating supply, a consistent outflow that some analysts say is one of the primary reasons the token has struggled to find sustained upward momentum despite broader market recoveries.
The concerns grew after reports emerged of a single transaction moving $104 million in AVAX to Coinbase in one go. Large transfers to exchanges are typically interpreted as preparation for selling, and a transfer of that size in a single movement drew immediate attention.
One community member questioned the transaction directly, writing “They sent $104 million in a single transaction?,” questioning the scale and what it means for the token’s near-term outlook.
When asked who was behind it, the response from one account said, “You know who,” came the reply, adding a layer of speculation that the community has not stopped discussing since.
Some took the data as confirmation of a broader problem facing utility tokens in the current cycle.
One community member argued that the 2025 to 2026 period has been worse than 2019 for serious projects, blaming the dominance of meme coins for drawing attention and capital away from tokens that were building real infrastructure but failing to deliver the price performance retail investors expected.
Holders who stayed in AVAX through the decline, they pointed out, are in a worse position than those who sold.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Crypto markets turned lower today as two major macro developments hit simultaneously. The Federal Reserve…
The Clarity Act just received its most important push forward in weeks. Senator Thom Tillis,…
Pi Network had crossed back above a $2 billion market capitalization, according to CoinGecko data,…
April 29, 2026 — Zagreb, Croatia. WHITE TECH, part of the W Group ecosystem and…
As the global digital asset market gradually matures, cloud mining has emerged as one of…
The UNI price is hanging by a thread after getting firmly rejected at the 20-day…
