The Avalanche token (AVAX), like most other altcoins, felt the bearish impact of the general market downturn, which resulted in a billion-dollar liquidation in the crypto market. Historical price data, however, shows that AVAX has been experiencing selling pressure long before this recent market crash.

As expected, the struggling price of the Avalanche token has also been reflected in the portfolio of the cryptocurrency’s investors, who seem to be drowning in losses at the moment.

AVAX Holders In Profit Reach All-Time Low: IntoTheBlock

On Tuesday, August 22, market intelligence platform IntoTheBlock revealed – via a post on X (formerly Twitter) – that the number of AVAX holders in profit is at an all-time low. 

According to IntoTheBlock data, approximately 99.5% of AVAX holders …