2024

DeFi

Avalanche

<div class="finbold">
 <p class="paragraph">Avalanche (AVAX) has a challenging week ahead with a sell-off of nearly $400 million worth of tokens. This is part of Avalanche’s unlocks from the Genesis distribution, summing up to the usual proof-of-stake (PoS) issuance.</p>
 <p class="paragraph">On February 21, vesting contracts will release 9.54 million AVAX worth $376.61 million at press time prices. Finbold retrieved this data from <em>TokenUnlocksApp</em> on February 17.</p>
 <p class="paragraph">Notably, Avalanche dominates the platform’s total cliff unlocks of $433.94 million for the next seven days by over 86%.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="974" height="454" src="https://cdn.thebittimes.com/images/2024/02/18/37aed55d16a5c94110dc665e40790beb.webp" alt class="wp-image-155682" srcset="https://cdn.thebittimes.com/images/2024/02/18/37aed55d16a5c94110dc665e40790beb.webp 974w, https://cdn.thebittimes.com/images/2024/02/18/37aed55d16a5c94110dc665e40790beb.webp 300w, https://cdn.thebittimes.com/images/2024/02/18/37aed55d16a5c94110dc665e40790beb.webp 768w" sizes="(max-width: 974px) 100vw, 974px">
  <figcaption class="wp-element-caption">
   Cliff unlocks next 7D: Avalanche (AVAX). Source: <em>TokenUnlocksApp</em>
  </figcaption>
 </figure>
 <p class="paragraph">In particular, this massive unlock amounts to 2.6% of Avalanche’s current circulating supply of 367.51 million AVAX. Additionally, it is 27 times larger than the 24-hour exchange volume of $13.80 billion, according to <em>CoinMarketCap</em>.</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="121" src="https://cdn.thebittimes.com/images/2024/02/18/4c08d0a0a20870bf0a64827be489732c.webp" alt class="wp-image-155683" srcset="https://cdn.thebittimes.com/images/2024/02/18/4c08d0a0a20870bf0a64827be489732c.webp 1024w, https://cdn.thebittimes.com/images/2024/02/18/4c08d0a0a20870bf0a64827be489732c.webp 300w, https://cdn.thebittimes.com/images/2024/02/18/4c08d0a0a20870bf0a64827be489732c.webp 768w, https://cdn.thebittimes.com/images/2024/02/18/4c08d0a0a20870bf0a64827be489732c.webp 1536w, https://cdn.thebittimes.com/images/2024/02/18/4c08d0a0a20870bf0a64827be489732c.webp 1562w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Avalanche (AVAX) market data. Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-avalanche-token-sell-off-distribution">Avalanche token sell-off distribution</h2>
 <p class="paragraph">As for the distribution, the ‘Team’ will receive 47% of this year’s half unlock. After February 21, team members will be able to liquidate 4.50 million AVAX, currently worth $177.62 million.</p>
 <p class="paragraph">Furthermore, ‘Strategic Partners’ and the ‘Foundation’ will increase their treasury by 2.25 million and 1.67 million AVAX, respectively. This will open for a future sell-off threat of over $154.6 million by these entities alone.</p>
 <p class="paragraph">However, the most liquid unlock will be 1.13 million AVAX ($44.40 million) for community airdrop.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="662" height="560" src="https://cdn.thebittimes.com/images/2024/02/18/86a9dd5fe13ff57a33b8a8ae5dfad691.webp" alt class="wp-image-155684" srcset="https://cdn.thebittimes.com/images/2024/02/18/86a9dd5fe13ff57a33b8a8ae5dfad691.webp 662w, https://cdn.thebittimes.com/images/2024/02/18/86a9dd5fe13ff57a33b8a8ae5dfad691.webp 300w" sizes="(max-width: 662px) 100vw, 662px">
  <figcaption class="wp-element-caption">
   February 21 AVAX unlock distribution. Source: <em>TokenUnlocksApp</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="avax-price-analysis">AVAX price analysis</h2>
 <p class="paragraph">In the meantime, AVAX is trading at $39.46 per token at the time of publication. Avalanche has seen an impressive surge since October 2023, following DeFi’s surge in funds locked.</p>
 <p class="paragraph">Nevertheless, history shows how badly AVAX was impacted in the last token <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> on August 26. Finbold published a similar <a rel="noopener noreferrer nofollow" title="alert" href="https://thebittimes.com/tag/alert.html">alert</a> to this one, warning investors of a <a rel="noopener noreferrer nofollow" title="sell-" href="https://thebittimes.com/tag/sell.html">sell-</a>off worth $101 million for the same 9.54 million AVAX.</p>
 <p class="paragraph">Avalanche dropped from $12.88 (August 1) to $10.81 (August 29) and further down to $8.90 on September 23. Essentially, AVAX lost over 30% from August 1 and 18% from a local top three days after the <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> to one month later.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/02/18/7c068d80fc455337ddcbcaf353373347.webp" alt class="wp-image-155685" srcset="https://cdn.thebittimes.com/images/2024/02/18/7c068d80fc455337ddcbcaf353373347.webp 1024w, https://cdn.thebittimes.com/images/2024/02/18/7c068d80fc455337ddcbcaf353373347.webp 300w, https://cdn.thebittimes.com/images/2024/02/18/7c068d80fc455337ddcbcaf353373347.webp 768w, https://cdn.thebittimes.com/images/2024/02/18/7c068d80fc455337ddcbcaf353373347.webp 1536w, https://cdn.thebittimes.com/images/2024/02/18/7c068d80fc455337ddcbcaf353373347.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   AVAX/USD daily price chart. Source: <em>TradingView</em> (Finbold)
  </figcaption>
 </figure>
 <p class="paragraph">Therefore, Avalanche investors and cryptocurrency traders must speculate with caution in the following days. The crypto market is volatile and unpredictable, moved by whales and market makers looking for the highest possible profits.</p>
 <p class="paragraph">In summary, such a massive <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> could trigger a huge <a rel="noopener noreferrer nofollow" title="sell-" href="https://thebittimes.com/tag/sell.html">sell-</a>off that might impact AVAX’s short-term prices.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/avalanche-sell-off-alert-nearly-400m-of-unlocked-avax-tbt80114.html">https://thebittimes.com/avalanche-sell-off-alert-nearly-400m-of-unlocked-avax-tbt80114.html</a></p>

Avalanche sell-off alert: Nearly $400M of unlocked AVAX

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