--- title: "Why did Avalanche drop 0.7% on October 23, 2026?" language: en canonical: "https://whycoinmoves.com/en/coins/avalanche-2/2026-10-23" date: 2026-10-23 --- # Why did Avalanche drop 0.7% on October 23, 2026? On October 23, 2026 (UTC), AVAX went from about $9.13 to $9.06 (-0.73%) on OKX · USDT, trading between $8.87 and $9.35. For the closed-hour 24h window: AVAX is within a usual day's range. AVAX fell further than this on 12 of the past 29 days. Avalanche moved down less than its usual day, and most other tracked coins moved the same way, so the move is within its normal range and needs no special explanation. Trading volume was below usual, and on the OKX perpetual swap AVAX-USDT-SWAP funding sat near zero while open interest fell. No recent report about Avalanche explains the move, so the cause is unresolved. - Day open / close: $9.13 → $9.06 (24 hourly candles, OKX · USDT) - Day range: $8.87 – $9.35 - Versus the past month: 12 of the past 29 days fell further; Closed-hour 24h move -0.73%, 0.3× its prior 30-day median of 2.4%. - 30-day range: 24.5% below the high · 2.2% above the low; From hourly highs and lows on the same venue - Other tracked coins: 12 of 18 moved the same way; 6 moved the other way - 24h volume: 0.5×; of its prior 30-day daily average - Perpetual swap: funding near zero · open interest falling; OKX perpetual swap AVAX-USDT-SWAP Computed from OKX · USDT hourly candles for the 24 hours to 24/10/2026, 00:00 UTC. ## Still open - Whether any project or exchange announcement about Avalanche accompanied the move, which an official statement or exchange notice would settle. - Whether Avalanche-specific on-chain activity or holder flows changed over the period, which on-chain data would settle. - Whether derivatives positioning on OKX reflects a broad market shift rather than anything specific to Avalanche, which venue data on comparable coins would settle. Prices, market readings and reports are shown side by side; timing alone does not show what caused a move. [Avalanche (AVAX) price and news]() [Methods and limitations]()