Why Avalanche’s Broadridge integration fails to stop AVAX’s 10% slide
Despite the integration of Avalanche with Broadridge's on-chain proxy voting platform, which began its rollout on Avalanche and was adopted by Galaxy Digital, AVAX's price fell nearly 10%. This decline was driven by weak on-chain fundamentals, including a significant drop in Total Value Locked (TVL) to $720 million—its lowest since July 2024—indicating capital outflow and reduced activity. Derivatives market data showed increased bearish sentiment, with a Long/Short Ratio of 0.89 and negative Funding Rates, reflecting dominant short positions. Additionally, exchange netflows revealed distribution, as more AVAX was moved to exchanges and sold, suggesting investors used the news as an exit opportunity rather than a bullish catalyst.
ambcrypto04/07 17:08
