Avalanche Price Drops as Crypto Market Pulls Back Amid Federal Reserve Decision

Avalanche's price dropped by about 5% over the past 24 hours, falling from $8.16 to $7.76 on trading volume of over $530 million.

This decline occurred as part of a broader crypto market slump, with the total market cap decreasing by around 2% and altcoin prices dropping by approximately 2.16%.

The Federal Reserve's decision to keep interest rates steady led traders to shift their attention towards equities rather than cryptocurrencies, contributing to the market's pullback.