Avalanche rallies 5% as value bridged from Ethereum crosses $250 million

Avalanche News

Avalanche rallies 5% as value bridged from Ethereum crosses $250 million
Cryptocurrencies
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DeFi token Avalanche (AVAX) trades at $28.75, as Bitcoin sustains close to $69,000 early on Monday.

DeFi token Avalanche gains 5% early on Monday, large wallet holder QCP Capital pulls

extends gains by nearly 5% on the day as the DeFi token shows bullish potential. Avalanche on-chain metrics signal bullish potential On-chain data from IntoTheBlock shows the sentiment among traders is “bullish” as of Monday. Global In/Out of the Money metric is used to track the profitability of wallet addresses holding the asset at a given price. At $28.77, 21.74% of the wallet addresses holding Avalanche are profitable. On the other hand, at the current price, 62.

noted a trend reversal, and since then, the DeFi token has sustained above the key support at $25.53, as seen in the

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