AVAX: Revolut offloads 177K tokens via Coinbase, derivatives still tilt long at $6.85 into $7 resistance

Revolut sold roughly 177,620 AVAX, worth about $1.2 million, through Coinbase, according to AMBCrypto, prompting speculation about whether corporate holders of Avalanche’s native token are trimming their exposure. Despite the transfer, spot market data and derivatives positioning still lean bullish, with AVAX trading near $6.85 as it approaches the closely watched $7.00 resistance level.

The sale has raised questions about whether treasury management strategies at fintech firms could introduce fresh AVAX supply into the market. However, AMBCrypto notes that a single transaction does not confirm a broader trend of corporate selling across other large holders of the token.

Exchange withdrawals still outpace deposits

Despite Revolut’s high-profile move, exchange netflows for AVAX stood at -$1.04 million, according to data cited by AMBCrypto, meaning withdrawals from tracked exchanges continued to exceed deposits. That pattern suggests buyers are still pulling tokens off exchanges rather than positioning them for quick sale.

Crucially, the negative netflow indicates that Revolut’s transaction did not spark a wider wave of exchange inflows from other major holders. That has eased concerns that corporate treasuries are collectively rotating out of AVAX, even as the broader spot market absorbed the additional supply without a meaningful shift in exchange balances.

Leveraged traders stay heavily long

Derivatives traders showed little concern following the sale. Binance’s Top Trader Long/Short Ratio for AVAX reached 2.82, with 73.84{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428} of accounts holding long positions compared with 26.16{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428} short, according to AMBCrypto.

That skew shows leveraged participants remain confident in higher prices despite the appearance of corporate selling pressure. The heavy long positioning does carry risk, however: a sharp drop could force a rapid unwind of leveraged bets if additional treasury holders decide to reduce their AVAX exposure, potentially triggering a broader leverage reset.

Can AVAX clear the $7 psychological barrier?

Avalanche rebounded after defending the $5.88 support level and now trades near $6.85, just below the psychological $7.00 resistance. The recovery followed June’s sharp decline, with buyers regaining control and printing a series of higher lows.

Technical indicators back the bullish case: the MACD line remains above its signal line with expanding green histogram bars, while the Parabolic SAR stays below price, confirming the trend has shifted in favor of buyers. If AVAX clears $7.00 with sustained demand, the next resistance target sits at $8.22. A rejection at $7.00, however, could send the token back to retest support before another breakout attempt.

Overall, AMBCrypto’s analysis suggests Revolut’s sale remains an isolated event rather than the start of a broader institutional exit, with exchange outflows and derivatives positioning continuing to favor AVAX bulls heading into the next test of the $7 level.