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AVAX whale active, canary release trust and ETF rumors continue to attract attention

AVAX whale active, canary release trust and ETF rumors continue to attract attention

Renata2024/12/06 07:23
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Recently, according to Arkham's monitoring, about 595.956 AVAX have flowed into the Canary Release Avalanche Trust Fund from an unmarked address. At the same time, the President of The ETF Store recently stated that at least one publisher may attempt to submit an ADA or AVAX ETF application, providing further expectations for the institutional development of AVAX.
 
Just a few days ago on November 29th, according to The Data , crypto investment firm Galaxy Digital withdrew 50,000 AVAX (about $2.11 million) and 350 BTC (about $33.22 million) from Binance. Currently, Galaxy Digital holds 92,300 AVAX (about $4.02 million) and 6,139 BTC (about $592.60 million), demonstrating its continued focus on AVAX.
 
Avalanche is a high-performance platform that supports customized blockchain networks and decentralized applications (DApps), created by Ava Labs. Its throughput of up to 4,500 TPS, subnet infrastructure, and HyperSDK toolkit provide powerful support for developers to promote the construction and expansion of Web3 applications.
 
With the intensification of the flow of giant whales and institutional funds, as well as the expected launch of potential ETF products, AVAX's ecosystem may usher in a new round of development opportunities. However, market volatility still needs to be continuously monitored, and investors should remain rational.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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