AVAX slips toward $11 despite BlackRock BUIDL-fueled RWA boom to $1.3B and rising on-chain activity
first published 2026-01-29T18:00:44Z
Avalanche (AVAX) fell to $10 — its lowest since Nov 2023 and down >80% from its Dec 2024 high — after breaching key $15.11 support. The drop occurred even as VanEck’s new Avalanche ETF added about $1.24M (net assets $3.73M), active addresses and transactions spiked (active addresses +273% to 1.57M), RWA tokenization on Avalanche reached $641M, and stablecoin supply on-chain topped $2.20B with 3.5M+ holders. Technicals show AVAX trading below the 50-week and 100-week EMAs and the Supertrend, with downside risk toward the all-time low near $8.40.
AI Analysis
Price action is bearish: AVAX dropped to $10 after breaking the $15.11 support, is below the 50-week and 100-week EMAs and the Supertrend, and downside targets the all-time low around $8.40. Offsetting factors are factual but smaller for short-term trading: VanEck ETF added ~$1.24M, active addresses surged 273% to 1.57M, RWA on-chain reached $641M, and stablecoin supply exceeded $2.20B. Given the technical breakdown, short-term trading outlook is negative despite positive on-chain and institutional metrics.
Expected Investor Sentiment: Bearish
Potential Market Impact: Significant
