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AVAX price drops nearly 10% despite Broadridge's new on-chain voting platform launch

Protocol Fundamentals
07 Apr 2026
AMBCrypto
View Source
Bearish
pluang ai news

Broadridge Financial Solutions launched an on-chain proxy voting platform on Avalanche, with Galaxy Digital as the first user. Despite this institutional adoption, AVAX's price fell nearly 10% due to weak on-chain fundamentals, including a drop in Total Value Locked to its lowest since July 2024 and increased sell pressure. Derivatives data showed bearish sentiment with more short positions and declining open interest, while spot market activity indicated distribution rather than accumulation. Overall, investors used the news as an exit point amid declining network activity and capital outflows, keeping AVAX under pressure.

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