AVAX Whales Accumulate As Staking Passes $204 Million

Avalanche is catching the eye of traders again as large holders start stacking up the token. Nearly half of the entire circulating supply is currently locked away in staking contracts. This shows strong long term confidence from the biggest players in the market.

Market watchers are keeping a close eye on upcoming price action, especially around the key liquidity pool sitting at six dollars and ninety cents. When whales start accumulating while high percentages of supply are staked, it often leads to reduced selling pressure on open exchanges.

Traders should watch the six dollar and ninety cent level closely to see if the price holds support. If buying volume continues to rise, Avalanche could see a solid upward push in the coming sessions.