$AVAX-USD

On November 5, several altcoin ETFs saw significant withdrawals, with Grayscale's Zcash ETF (ZCSH) losing $11M, reversing prior gains. Hyperliquid, Solana, Avalanche, and NEAR funds also experienced outflows, totaling $16.8M. Hedera's ETF was the exception, gaining $278K. The selloff occurred amid broader crypto market pressure, though ETF outflows don't always directly impact underlying token prices.

Arbitrum led bridge flows with $195M net inflows, while Hyperliquid had the largest net outflow of $191M. Artemis data showed Arbitrum had $1.13B inflows and $935M outflows. Hyperliquid had $1.16B outflows and $973M inflows. Other chains like Ethereum, Polygon, and Base also saw notable flows.

NEC, a Japanese IT firm, is exploring stablecoin payments on the Avalanche (AVAX) blockchain, aiming to combine identity verification and payments. The partnership, outlined in a July MOU, is in early stages with no financial details or launch date disclosed. AVAX is down 22.4% monthly, trading at $8.53, with no significant reaction to the news.

Binance plans to resume withdrawals for 15 blockchain networks, including Bitcoin, Ethereum, and XRP, between 06:00 and 09:00 UTC on November 1 after a $6.3 billion security breach. The exchange has recovered 95% of affected assets and will use SAFU, Futures insurance fund, and corporate treasury for recovery. Updated Proof of Reserves is expected by November 3.

Cryptocurrency markets experienced a broad sell-off on Saturday evening. Bitcoin fell 1.02% to $80,256.44, Ethereum declined 2.02% to $2,336.38, and other major digital assets also posted losses. XRP was the most resilient, dropping only 0.25% to $1.29.

Ethereum's dominance in the real-world asset (RWA) tokenization market has fallen to 40% from 71% over the past year, according to GSR. Competitors like BNB Chain, Solana, Stellar, and Avalanche are gaining ground due to their scalability, low costs, and speed, attracting institutional adoption for tokenized assets.

Avalanche (AVAX) has fallen 10.9% in the past week, closing at $8.91, and is down 93.9% from its all-time high. Key support levels are $8.85, $6.04, and $5.68. AVAX's market cap is $3.95 billion, with a circulating supply of 443.9 million tokens. The SEC's crypto proposal and weak ETF inflows have not halted the decline. Bitcoin's dominance at 59.5% leaves AVAX vulnerable to further sell-offs.

Grayscale opened in-kind subscriptions for its Avalanche Staking ETF (GAVA) on October 21, requiring approximately $235,800 for AVAX swaps. AVAX price fell 10.34% over the past week to $8.92. Grayscale's move comes amid stalled inflows into Avalanche funds, with no fresh money since October 8. AVAX's market cap stands at $3.96 billion, ranking it 28th among crypto assets.

Avalanche (AVAX) has dropped 93.6% from its November 2021 peak, trading at $9.26 as of October 2026. Despite government initiatives and institutional interest, its price has continued to fall. AVAX's market cap is $4.11 billion, ranking 28th among cryptocurrencies. The token's supply dilution and competition pose challenges to its recovery.

Grayscale launched in-kind investing for 10 crypto products, including BTC, ETH, SOL, XRP, and DOGE. Minimum investments range from $80,300 to $364,800. Eligible investors can exchange crypto directly for fund shares, avoiding cash conversion. The service follows SEC approval of in-kind transactions for crypto ETFs.