Token

Avalanche

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/impending-unlock-of-avax-tokens/" data-wpel-link="internal">Impending Unlock of AVAX Tokens</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/the-avalanche-project-avax-continues-to-rise-despite-market-volatility/" data-wpel-link="internal">Avalanche</a></strong> (AVAX) seems to be bracing for a challenging period in the coming week. As of today, a token unlock worth approximately $400 million is expected to take place. This is identified as part of the Genesis distribution on the Avalanche side, extending up to the usual proof-of-stake (PoS) issuance period.</p> 
<h2 style="text-align: justify" id="avax-unlock-event-approaching">AVAX Unlock Event Approaching</h2> 
<p style="text-align: justify">On February 22nd, 9.54 million AVAX tokens valued at $376.61 million will be unlocked. The data regarding the unlock was provided by <strong>TokenUnlocksApp</strong> on February 17th.</p> 
<p style="text-align: justify">In the next seven days, locks worth $433.94 million will be released, with over 86% of them being AVAX tokens, which brings a different dimension to the event on this front.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-316152" src="https://coin-turk.com/wp-content/uploads/2024/02/avax-433-coin-turk-com.jpg" alt="" width="755" height="364"></p> 
<p style="text-align: justify">The upcoming massive unlock signifies 2.6% of the current circulating supply of 367.51 million AVAX on the Avalanche side. Furthermore, compared to the 24-hour exchange volume of $13.80 billion provided by CoinMarketCap, the volume remains 27 times larger.</p> 
<h2 style="text-align: justify" id="distribution-of-avalanche-token-unlock">Distribution of Avalanche Token Unlock</h2> 
<p style="text-align: justify">Upon examining the distribution of tokens to be released as a result of the unlocks, the ‘Team’ will receive 47% of the tokens at the unlock. Following the February 22nd date, members will be able to sell 4.50 million AVAX valued at $177.62 million.</p> 
<p style="text-align: justify">Additionally, AVAX’s strategic partners and foundation treasuries will receive 2.25 million and 1.67 million AVAX, respectively. Considering these amounts, even these alone will empower the organizations to hold a sales threat worth over $154.6 million at today’s valuation. The community will also see a distribution of 1.13 million AVAX (worth $44.40 million).</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-316153" src="https://coin-turk.com/wp-content/uploads/2024/02/avax-1-13-coin-turk-com.jpg" alt="" width="655" height="551"></p> 
<h2 style="text-align: justify" id="avax-price-analysis-and-history">AVAX Price Analysis and History</h2> 
<p style="text-align: justify">While all this is happening, AVAX is currently trading at $39.68. It is noted that Avalanche has seen an impressive increase since October 2023, coinciding with the rise in locked funds in DeFi.</p> 
<p style="text-align: justify">Looking back, the impact of AVAX’s unlock on August 26th had a negative effect on the altcoin. Avalanche dropped from its peak of $12.88 on August 1st to $10.81 on August 29th and further to $8.90 by September 23rd.</p> 
<p style="text-align: justify">From another perspective, AVAX reflected a loss of over 30% in value since August 1st, and following the unlock, it experienced an 18% loss within a month after reaching a local peak.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-316154" src="https://coin-turk.com/wp-content/uploads/2024/02/avax-18-coin-turk-com.jpg" alt="" width="778" height="502"></p> 
<p style="text-align: justify">To summarize, past unlock events have had adverse effects on AVAX, and investors would be wise to manage their investments carefully in the days following the upcoming massive unlock.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/impending-unlock-of-avax-tokens/" data-wpel-link="internal">Impending Unlock of AVAX Tokens</a></h5>

Impending Unlock of AVAX Tokens

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