Upcoming on August 26: Avalanche to Release 9.54M Tokens, Over Half of AVAX’s Total Supply Unlocked
Avalanche (AVAX), a pioneering smart contract blockchain platform, is gearing up for a highly anticipated token unlock. This move is poised to reshape the landscape of the crypto sphere as the Avalanche blockchain’s native token, AVAX, gets ready to step into the limelight once again. Scheduled to take place on August 26, this unlock is projected to boost the supply of AVAX tokens available for trading and investment.
Revealing this crucial information, Token Unlocks, a leading token analytics dashboard, has disclosed that Avalanche is preparing to unlock a whopping 9.54 million AVAX tokens this week. In terms of the total supply, this accounts for 2.77%, a substantial share that currently amounts to an impressive $103 million in value. This unlock will be distributed across various segments, including 2.25 million AVAX tokens for strategic partners, 1.67 million for foundations, 4.5 million for teams, and 1.13 million designated for airdrops.
Token Unlocks, often representing a pivotal moment in a cryptocurrency’s journey, refer to the release of assets that were previously locked or restricted within the circulating supply. Throughout this period, these tokens are temporarily barred from trading or liquidation, thereby significantly influencing market liquidity. This particular token unlock marks a momentous phase in Avalanche’s ongoing development and the expansion of its ecosystem. The released tokens are set to play an indispensable role in propelling the platform’s growth and fostering innovation.
This isn’t Avalanche’s first rodeo with token unlocks, as the platform previously undertook a similar move by unlocking 9.54 million AVAX tokens on May 28. Just like the current unlock, this too constituted 2.77% of the total token supply, representing a value of $103 million. As of the present moment, the ongoing process has seen 53% of AVAX tokens already released, with an additional 340.20 million tokens still awaiting their moment to shine.
In the run-up to this announcement, the market has been abuzz with anticipation. At the time of writing, the AVAX token has been trading at $10.63, reflecting a marginal decline of 1.66% over the last 24 hours. Nonetheless, the daily trading volume of AVAX has enjoyed a significant uptick of 13.72%, a potential indicator of heightened interest and activity. Market observers are keenly eyeing the impending token unlock, expecting it to have a discernible impact on the token’s trading price. The influx of such a substantial number of tokens into the circulating supply is likely to be a contributing factor to the market’s dynamic shifts.
In conclusion, Avalanche’s imminent token unlock is poised to reshape the crypto landscape. With the release of a significant number of AVAX tokens, the platform is primed for growth, innovation, and heightened trading activity. As the date draws nearer, the crypto community holds its collective breath in anticipation of the transformative effects this unlock could bring to both Avalanche and the wider market.
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