Avalanche (AVAX) Falls Despite Record Network Activity

Avalanche (AVAX) is struggling despite strong network performance in 2026. The token price has fallen over 70% in the past year and around 95% from its all-time high near $145.

The simple explanation for this decline is that AVAX remains a high-beta altcoin in a weak crypto market. The broader market's correction, including Bitcoin and Ethereum's falls, has affected smaller Layer 1 tokens like Avalanche (AVAX).

However, the scale of its decline suggests something more is at play. Avalanche (AVAX) faces increased competition from newer chains like Sui and traditional Layer 2 networks that offer cheaper execution.