Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Avalanche open interest smashes new ATH. Will AVAX get its $100 back?
EXCHANGE NEWS

Avalanche open interest smashes new ATH. Will AVAX get its $100 back?

By Crypto FlexsDecember 15, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Avalanche open interest smashes new ATH.  Will AVAX get its 0 back?
Share
Facebook Twitter LinkedIn Pinterest Email

Avalanche has seen its token AVAX rise rapidly over the past 30 days, entering the top 10 tokens by market capitalization. This rally did not come out of nowhere, as activity began to pick up on the Avalanche network once again. During this period, open interest also increased rapidly, eventually reaching an all-time high.

Avalanche open interest increases to $413 million

On Tuesday, Avalanche open interest rose to its highest level since launch after AVAX surged to $40. Open interest continued to rise for over a month, reaching $413 million on December 12. The surge coincided with a surge in prices, hitting daily highs almost every day in December.

The surge began in October after hitting about $70 million in a month. However, in November, there was a noticeable change in open interest as traders began taking positions in digital assets.

Source: Coinglass

Between November and December, AVAX open interest increased by more than 400%. On Tuesday alone, open interest increased another 19%, bringing total Avalanche open interest across all exchanges to 11.43 million AVAX.

73% of all open interest actually comes from just two exchanges. Binance and Bybit. According to data from Coinglass, Binance accounted for 44% of total OI with $184 million (4.54 million AVAX), and Bybit accounted for 28.8% of total OI with $119.67 million (2.95 million AVAX). Occupy BingX, OKX, and Bitget ranked in the top five with $50.37 million, $43.7 million, and $41.8 million, respectively.

Avalanche AVAX price chart on Tradingview.com

Token price retraces to $36 | Source: AVAXUSD on Tradingview.com

Does OI send AVAX price $100?

Avalanche open interest has soared to an all-time high, but there is still a long way to go before the AVAX price reaches its all-time high of $146. Nonetheless, the increase in open interest is still very bullish relative to the price.

As evidenced by historical performance, the price of AVAX often rises whenever open interest increases. This is when the price of an altcoin rose by more than $100 between 2021 and 2022 before eventually crashing in 2022.

If Avalanche open interest continues to increase from here, we expect AVAX to follow. A break in OI above $500 million will undoubtedly see the altcoin hit the coveted $50 level once again. However, $100 is still a long way off and will most likely be reached around 2024.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) Faces Selling Pressure – Is This the Start of a Trend?

October 12, 2025

Ethereum Price at Risk – Bears Lose Momentum Ahead of New Lows

October 9, 2025

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025
Add A Comment

Comments are closed.

Recent Posts

US government holds $36 billion in Bitcoin after largest confiscation in history

October 15, 2025

Decoding City Protocol’s IP Capital Market

October 14, 2025

Tria Raises $12M To Be The Leading Self-custodial Neobank And Payments Infrastructure For Humans And AI.

October 14, 2025

How to Use Google Gemini to Analyze Crypto Coins Before Investing

October 14, 2025

Class action lawsuit claims Microsoft choked AI supply to drive up ChatGPT costs

October 14, 2025

CME Group Launches CFTC Regulated Solana and XRP Options

October 13, 2025

Eightco Holdings Inc. ($ORBS) Makes Strategic Investment Into Mythical Games To Accelerate Human Verification And Digital Identity In Gaming

October 13, 2025

Jiuzi Holdings, Inc. (JZXN) Secures 100 Bitcoin Via Private Placement, Signaling New Phase In Crypto Treasury Deployment

October 13, 2025

Collaboration Across Bybit, DigiFT And UBS UMINT Expands Collateral Solution For Institutions

October 13, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 3.03 Million Tokens And Total Crypto And Cash Holdings Of $12.9 Billion

October 13, 2025

Phemex Announces Halloween Futures Trading Festival With 200,000 USDT Prize Pool

October 13, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

US government holds $36 billion in Bitcoin after largest confiscation in history

October 15, 2025

Decoding City Protocol’s IP Capital Market

October 14, 2025

Tria Raises $12M To Be The Leading Self-custodial Neobank And Payments Infrastructure For Humans And AI.

October 14, 2025
Most Popular

Layer 3 AI Powered by Gaming, Powered by Arbitrum Orbit Built on Gelato RaaS – Blockchain News, Opinion, TV & Jobs

April 24, 2024

Bitget Launchpool and Spot Trading lists introducing Elixir Network

March 6, 2025

Bitcoin heads for $ 100k, but BTF futures predict recovery

May 31, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.