Following allegations that Ava Labs, the business that created Avalanche, engaged in anti-competitive behaviour, interest in AVAX is at an all-time high. Serious lawsuits brought against the corporation had a significant effect on the price of AVAX, which fell by 17% from its previous price. However, the asset's price quickly recovered after briefly hitting a 7-week low. Ava Labs was accused by the cryptocurrency group CryptoLeaks of making a deliberate effort to harm its rivals and elude regulation. The association asserted that the corporation engaged in anti-competitive behaviour by suing its competitors.
But there are dissenting opinions, with some influencers claiming that the entire incident was paid propaganda. Cobie, a crypto influencer, thinks the exposé could be part of a campaign to discredit Avalanche. According to Andrew T of Nansen AI, those responsible were paying CryptoLeaks to spread false information against the company.
AVAX's share price has meantime largely recovered from Monday's decline following the exposure. The cryptocurrency briefly traded at roughly $17.60 before rising above $19. AVAX's price is currently $19.12, up 5.88% over the previous day, according to CoinGabbar. This is contrasted with the $19.78 range it remained in before to the precipitous decline.
The crypto world was eager to learn the truth as soon as word of the Avalanche disclosure spread. AVAX was the top-rising subject in the cryptocurrency world, according to research by data provider for the crypto markets Santiment. In fact, the value of the cryptocurrency plummeted, at one time falling to a 7-week low.
Following its lows caused by the Cryptoleaks disclosure, the AVAX price rebound did not last more than a few hours. Crypto investor Miles Deutscher thought the situation needed to be clarified more, however. He wrote in a tweet that the club still needs to be much clearer about the specifics of their legal representation.
