
Avalanche staking reaches 41.5% despite price weakness
- Avalanche (CRYPTO:AVAX) staking reached 41.5% of the token supply despite recent price weakness.
- Higher staking has reduced the number of tokens available for trading while AVAX remains under price pressure.
- Analysts said sustained staking could support long-term network participation if demand improves.
Avalanche (CRYPTO:AVAX) staking rose to 41.5% of the token supply even as the token traded within a bearish price pattern.
The higher staking rate means more AVAX is locked on the network, reducing the amount available for trading.
Analysts said AVAX still faces technical resistance despite stronger network participation through staking.
Higher staking can reduce selling pressure, but analysts said price gains will also depend on broader market demand.
Avalanche is a blockchain network that supports decentralised applications, tokenised assets and smart contracts.
Developers have continued expanding Avalanche through partnerships, tokenisation projects and new decentralised finance applications.
At the time of reporting, Avalanche price was $6.52.