AVAX Whales Accumulate Amidst Staking Milestone and Bullish Momentum

Avalanche's [AVAX] staking statistics have revealed that nearly $204.77 million worth of tokens has been staked, accounting for around 43% of its circulating supply.

This significant amount of tokens has become inactive and can no longer be used for leveraged trading, indicating that bulls remain positive amidst the current consolidation period.

The trend suggests that large investors are increasing their exposure to AVAX, with recent on-chain derivatives data showing that Avalanche whales are accumulating more orders at the current price. This is happening across both Spot and Futures markets.

The combination of supply reduction and rising whale orders across the Avalanche network points to a strategic bullish move, which could amplify the token's price action momentum in the near future.