Although Stars Arena, which operates on the Avalanche network, announced that it had recovered 90 percent of the funds, AVAX showed almost no reaction.
Stars Arena, the popular Avalanche-based SocialFi project, announced that it has recovered approximately 90 percent of the funds lost in the recent security breach. According to the statements made by the company, they managed to buy back 239,493 AVAX in two separate transactions of 119,246 AVAX each. However, despite these positive developments, AVAX, which did not show any upward movement, lost a total of 23 percent of its value in the last 5 days. At the same time, the major coin became the 5th most falling cryptocurrency in the last 24 hours.
It crashed by 23 percent in just 5 days!
AVAX, which decreased from $ 11.89, fell to $ 9.15. The popular coin, which recorded a 23 percent decrease in just 5 days, finds buyers at $ 9.18 as of the writing of the news. AVAX, which was priced with the enthusiasm created by Stars Arena, was almost forgotten after the platform was hacked. At the same time, the major coin, approaching a critical support level, worried the investor base and ecosystem.
The first level to watch as support for AVAX is $9.10. Failure to protect this level by buyers may directly push the price to $8.60 and $7.49. The reason for this is that there are too many gaps in the chart structure of AVAX. During the rise process, the resistance levels that can be targeted are 10 – 10.82 – 11.21 – 12.24 – 13.10 – 13.83 and 15.96 dollars, respectively.
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