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Avalanche price rallies 20% after report reveals $25M inflows into AVAX investment vehicles

Published 02/23/2022, 12:12 PM
Updated 02/23/2022, 02:00 PM
© Reuters.

Avalanche (AVAX) rallied by around 20% in the last two days as a new report revealed millions of dollars flowing into AVAX-based investment products.

Penned by CoinShares, an institutional crypto fund manager, the report highlighted that Avalanche-based investment vehicles attracted about $25 million in the week ending Feb. 21, the second-biggest inflow recorded in the said period after Bitcoin's (BTC) $89 million.

Flow of assets. Source: Bloomberg, CoinShares
AVAX/USD four-hour price chart. Source: TradingView
AVAX/USD daily price chart. Source: TradingView

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