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Here's Why Avalanche's Cryptocurrency Is Falling Today

TheMotleyFool

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Here's Why Avalanche's Cryptocurrency Is Falling Today

The cryptocurrency market is seeing another day of widespread sell-offs. Avalanche's (CRYPTO: AVAX) Avax token was down roughly 8% over the last 24 hours as of 2:30 p.m. ET on Thursday.

Leading cryptocurrencies have continued to lose ground, with Bitcoin and Ethereum down roughly 3.5% and 3.8%, respectively, over the last 24 hours. Avalanche's recent pullback is likely tied to broader market momentum, but it could also partly stem from investors taking profits following the token's otherwise strong performance recently.

Image source: Getty Images.

Source Fool.com

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