$AVAX Price Faces Crucial Test Amid Clarity Act Setback

The $AVAX price has taken a hit from the September 15 crypto sell-off after the U.S. Senate failed to advance the Digital Asset Market Clarity Act in a 49-50 procedural cloture vote, below the required 60 votes.

This development has put $AVAX back at an important level, with sentiment around recovering altcoins getting shaken.

The key support for $AVAX is currently at $7. As long as this level holds in September, the broader rally that started in June remains intact.

Avalanche has been adding new features to its network, including permissionless tokenized stocks on its decentralized exchange.