$180M AVAX Inflow to Coinbase Exposes Structural Sell Pressure in Utility Tokens

Persistent supply entering the market creates sustained downward pressure on price. Over six months, $180 million worth of AVAX was transferred to Coinbase. The inflow represents approximately 1.88% of AVAX’s circulating supply. A single transaction accounted for $104 million of the total inflow. Large token transfers to exchanges are widely interpreted as preparation for selling. AVAX is trading at $9.07, down 3.35% over 24 hours, amid weak price recovery despite broader market gains. Traders are increasingly skeptical, frustrated, and concerned that the selling pressure is systemic rather than isolated. The episode reflects a broader market shift where meme coins attract capital while utility tokens like AVAX face prolonged indifference or decline. Holders of utility tokens are now worse off than those who exited earlier, signaling a structural disadvantage in the current market cycle.