Token

Avalanche

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/avalanche-braces-for-major-avax-token-release" rel="noopener noreferrer nofollow">Avalanche Braces for Major AVAX Token Release</a><br></p>
<p style="text-align: justify">A significant event is looming for Avalanche’s native <a href="https://en.bitcoinhaber.net/crypto-sector-gains-attention-as-investor-expectations-rise" rel="noopener noreferrer nofollow">cryptocurrency</a> AVAX, as an unlock of tokens worth about $400 million is anticipated to occur soon. This release, part of the initial Genesis distribution, coincides with the standard issuance period for proof-of-stake tokens within the network.</p>
<h2 id="imminent-release-of-avax-tokens">Imminent Release of AVAX Tokens</h2>
<p style="text-align: justify">On February 22nd, the Avalanche network is set to unlock 9.54 million AVAX tokens, which are currently valued at $376.61 million. The announcement of this event was made public on February 17th. The coming week will see a total of $433.94 million worth of locked tokens become accessible, with AVAX tokens constituting over 86% of this value.</p>
<p style="text-align: justify">The anticipated release represents 2.6% of AVAX’s circulating supply, which includes 367.51 million tokens. This figure overshadows the 24-hour trading volume on exchanges by 27 times, according to data from CoinMarketCap.</p>
<h2 id="token-distribution-details">Token Distribution Details</h2>
<p style="text-align: justify">As the tokens unlock, the ‘Team’ category is set to receive 47%, amounting to 4.50 million AVAX, or a value of $177.62 million. Strategic partners and foundation treasuries will also get significant shares, with 2.25 million and 1.67 million AVAX respectively, giving them a combined value of over $154.6 million. The community will receive a distribution of 1.13 million AVAX, equivalent to $44.40 million.</p>
<h2 id="avax-market-performance">AVAX Market Performance</h2>
<p style="text-align: justify">Currently, AVAX trades at $39.68. Since October 2023, alongside the growth of locked funds in DeFi, the price of AVAX has seen considerable growth. However, past unlocks have shown a tendency to negatively influence AVAX’s market value. For example, following an unlock on August 26th, AVAX’s price fell from a high of $12.88 to $8.90 over two months, reflecting a loss of 30%.</p>
<p style="text-align: justify">Investors have seen the price fall by 18% within just a month after previous unlocks. Given this historical context, market participants should exercise caution and closely monitor their investments in the aftermath of this substantial token release.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/avalanche-braces-for-major-avax-token-release" rel="noopener noreferrer nofollow">Avalanche Braces for Major AVAX Token Release</a></h5>

Avalanche Braces for Major AVAX Token Release

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