Crypto coin AVAX dropped to its lowest price since July 13 after 'whistleblower' website accused Avalanche of paying lawyers to instigate litigation against rivals. godbole17 reports.
AVAX dropped to the lowest since July 13 on Monday after a self-described"whistleblower" website accused Ava Labs, the company behind its parent smart contract blockchain Avalanche, paid lawyers to hurt competitors and keep regulators at bay.
AVAX has dropped 22% from $23 to $17.90 since Friday – with prices losing 11% in the past 24 hours alone, according to CoinDesk data. As of writing, AVAX was the only cryptocurrency with a market cap of at least $1 billion to report a double-digit percentage decline for the 24-hour period. At press time, bitcoin, ether and other major cryptocurrencies nursed 1% to 5% losses.
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