๐ฅ $AVAX TREASURY FIRM CRASHED ON ITS NASDAQ DEBUT
Avalanche Treasury $AVAT just went public on Nasdaq, then CRASHED -38% on day one.
Meanwhile, $AVAX trades at a 5-year low, DOWN -95% from its 2021 peak.
The company still plans to buy more than $1B of AVAX, With CEO calling it โa repositioning of finance.โ
@Patrick_DefiGuy $AVAX wonโt go above $40 in the next bull run, and when the next bear market comes around, it could easily crash below $1. There will be new trends and technologies, and people always chase whatโs new. Just look at how the CoinMarketCap rankings change every cycle.
$AVAX is proof that having good technology isnโt enough.
Crypto is a speculation game.
The only race @avax keeps winning is the race to the bottom ๐๐
Current situation: BTC is losing more than altcoins, and dominance is dropping. This is not a good sign for altcoins โ over the next 2โ3 days they could drop by 20โ30%. ๐๐
#bearmarket#BTC#altcoin
@avaxjesus The team isnโt the only one that got wrecked.
The loyal holders carrying the $AVAX flag all the way from ATH got front-row seats too ๐
@avax still a top player ๐
@Roman_Trading 100% agree. With millions of tokens out there and most offering no real value, it's hard to see another altseason like 2021. Until there's a major shakeout and clearer regulation, most alts are just liquidity for bitcoin:native .