Avalanche, Cosmos Lead Crypto Losses Amid Altcoin Purge

Avalanche, Cosmos Lead Crypto Losses Amid Altcoin Purge
Tokens of the Avalanche, Algorand and Cosmos blockchains were among some of the biggest losers early Tuesday as the crypto market took a hit. The moves came as stocks fell in Asia amid a move to less risky assets.Avalanche (AVAX) slid as much as 11% to a support level of $77 at press time, part of a broader downtrend from the high $130s, and an almost 50% reduction from the token’s highs.Similar drops were seen in algorand (ALGO) and cosmos (ATOM), which fell to $1.32 and $21.37, respectively.The declines follow months of gains for tokens of the layer 1 blockchains,…