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Avalanche (AVAX) is down 6% while the market recovers

According to data given by CoinMarketCap, Avalanche (AVAX), the native currency of the same-named smart contract platform, has lost 7.81 percent in the previous 24 hours.

It has now dropped below Binance USD (BUSD), a stablecoin with a market valuation of $18.1 billion, and has dropped out of the top ten cryptocurrencies by market capitalization.

AVAX has dropped 9.61 percent in the last week, matching the performance of other “Ethereum killers.”

Over the last week, Solana (SOL) and Cardano (ADA) have lost 8.63 percent and 11.30 percent, respectively.

Despite losing more than 4% in the last 24 hours, rival Terra (LUNA) is still up 39.06 percent over the last week.

Three stablecoins are now among the top ten. The two most popular dollar-pegged cryptocurrencies are Tether (USDT) and USD Coin (USDC). They are currently worth $79.6 billion and $53.3 billion, respectively.

TerraUSD (UST) is the most valuable decentralized algorithmic stablecoin, with a market worth of $12.8 billion.
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