VanEck's Staking Payouts Revive Hope for Avalanche Price Recovery

VanEck's Avalanche ETF has started distributing staking rewards as quarterly cash payouts to its holders. This move is seen as a milestone for the cryptocurrency, which has been struggling with low prices and lack of adoption.

The payouts are modest, with the first distribution being a small sum on a small fund. However, this development is significant as it gives holders a yield on their investment, albeit on an asset that is still far below its highs.

VanEck's staking payouts have revived hope for a recovery in Avalanche's price, which has been trading near $6.60 and down roughly 96% from its all-time high.

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