Avalanche (CRYPTO: AVAX) is gaining traction among traders, who are taking long positions as institutional interest rises.
Trader Notes: Polaris XBT highlighted Avalanche's strength, noting it has successfully retested its range and surged higher, thereby outperforming other altcoins.
Bluntz Capital sees Avalanche as an ideal buyback opportunity after a recent liquidation, emphasizing a fast and strong rebound.
Statistics: Lookonchain data highlighted whales are reflecting strong bullish sentiment on Avalanche.
It noted one address that opened a 5x long position on 514,906 AVAX, worth $17.2 million, and is already up $920,000, while another trader, also a World Liberty Financial advisor, took a 10x long on 66,479 AVAX valued at around $2.2 million.
Coinglass data reports $5.38 million in Avalanche liquidations over the past 24 hours, with $3.96 million in short liquidations as shorts were forced to close positions amid the price spike.
Community News: AgriFORCE Growing Systems Ltd (NASDAQ:AGRI) has rebranded as AVAX One and raised $550 million to acquire more Avalanche tokens, targeting ownership of over 700 million AVAX.
The initiative positions the company as a foundational partner in the Avalanche ecosystem.
Anthony Scaramucci, SkyBridge Capital founder and strategic advisor for AVAX One, commented: "Avalanche has clearly become the institutional-grade platform for this shift, and SkyBridge has already committed to tokenizing on the network."
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