Avalanche Price Dips Amid Binance Margin Cut

Avalanche's price took a hit as the world's largest cryptocurrency exchange, Binance, announced it would terminate margin trading support for multiple AVAX pairs.

The removal of these key pairs will force leverage to unwind, weighing on sentiment and contributing to the altcoin market contraction. The total crypto market capitalization fell by 2.46% over the past 24 hours, with altcoins experiencing a decline in market cap excluding Bitcoin.