Avalanche

Wrapped AVAX

Avalanche’s native cryptocurrency, AVAX, has faced a downturn in the market as it approaches a notable event: the release of $365 million worth of tokens. This event has attracted attention because it could influence AVAX’s price and market behavior.<h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" />In the past, similar large token releases in the crypto world have typically led to price drops. This occurs because the increased supply of tokens can surpass demand, causing prices to fall.<h3 id="avalanche-avax-faces-pressure-amidst-365m-unlocking-event">Avalanche (AVAX) Faces Pressure Amidst $365M Unlocking Event</h3>The native cryptocurrency of the Avalanche (AVAX) network has shown relative weakness compared to other digital assets this week, coinciding with a significant unlocking event involving $365 million worth of tokens, thereby increasing its supply.As of the time of writing, Avalanche (AVAX) is trading at $37.96, marking a 0.5% decline from an hour ago and a 3.3% decrease from yesterday. Notably, AVAX’s value today is 4.2% lower than it was seven days ago, reflecting recent market trends.According to Token.Unlocks, approximately 9.5 million previously locked-up Avalanche tokens, valued at $365 million, are scheduled to be released on Thursday. This release is expected to increase the asset’s circulation supply by roughly 2.6%.The <a href="https://cryptosheadlines.com/market-dynamics-to-be-impacted-by-significant-token-unlocks-bit-blur-ape-uni-and-fil/" rel="noopener noreferrer nofollow">unlocked tokens</a> will be distributed as follows: 4.5 million to team members, 2.25 million to strategic partners, 1.67 million to the ecosystem development foundation, and 1.13 million for airdrop purposes.<h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /><a href="https://cryptosheadlines.com/ethereum-holders-increasingly-transferring-coins-to-centralized-exchanges-on-chain-data-reveals/" rel="noopener noreferrer nofollow">On-chain data reveals</a> that approximately 58% of AVAX’s tokens have been unlocked. Token unlocks lead to an expansion in the asset’s supply by freeing previously locked-up coins from vesting periods, including those for early investors.<a href="https://cryptosheadlines.com/solana-ready-for-120-starknet-volatility-explosion-cardano-ascends/" rel="noopener noreferrer nofollow">Also Read: Solana Ready for $120; Starknet Volatility Explosion; Cardano Ascends?</a><h3 id="bearish-pressure-on-arbitrum-arb-and-avalanche-avax">Bearish Pressure on Arbitrum (ARB) and Avalanche (AVAX)</h3><blockquote>Arbitrum (ARB) and Avalanche (AVAX) have encountered significant bearish pressure as investors brace themselves for upcoming token unlocks, leading to recent price declines and selling pressure on both projects.</blockquote>Arbitrum emerged as a platform where developers collaborate to build applications that are accessible, practical, economically viable, and offer faster <a href="https://cryptosheadlines.com/how-to-check-an-ethereum-transaction/" rel="noopener noreferrer nofollow">transactions compared to Ethereum</a>. However, it recently experienced a notable sell-off as investors prepared for an impending token release in March.Over $1 billion worth of ARB tokens are set to be unlocked starting from March 16. This influx of selling pressure is expected to substantially reduce the project’s overall market value.The price decrease mirrors the downward trend observed in certain emerging altcoins, which recently hit year-to-date <a href="https://cryptosheadlines.com/sui-token-shows-promising-recovery-rebounding-from-all-time-low/" rel="noopener noreferrer nofollow">all-time lows</a>, coinciding with a bear market bottom in Bitcoin search trends. As a result, ARB whales have been <a href="https://cryptosheadlines.com/microstrategy-founder-sells-shares-pre-etf-approval/" rel="noopener noreferrer nofollow">selling their shares</a>, leaving Arbitrum vulnerable to market fluctuations.<h3 id="investor-interest-shifts-to-algotech-algt">Investor Interest Shifts to Algotech (ALGT)</h3>In response to these <a href="https://cryptosheadlines.com/bullish-future-for-shib-and-floki-in-current-market-conditions/" rel="noopener noreferrer nofollow">market conditions</a>, investors are turning their attention to Algotech (ALGT) for its appealing investment opportunities.Algotech (ALGT) aims to revolutionize decentralized finance using technology and machine intelligence. Investors are attracted to the platform’s innovative features, including momentum trading, mean reversion, and optimized algorithms, which promise smooth market performance.Algotech’s primary goal is to <a href="https://cryptosheadlines.com/kraken-compelled-to-provide-customer-data-to-irs/" rel="noopener noreferrer nofollow">provide customers with intelligent and efficient data</a> management tools by leveraging artificial intelligence and modern technologies.<h3 id="busy-month-ahead-for-crypto-assets">Busy Month Ahead for Crypto Assets</h3>February is expected to be a hectic month for crypto assets, with many projects unlocking tokens totaling over $800 million. According to TokenUnlocks statistics, 26 crypto projects are scheduled to unlock tokens, potentially flooding the market with approximately $1 billion worth of crypto assets.<a href="https://cryptosheadlines.com/ada-skyrockets-avax-left-behind-discover-why/" rel="noopener noreferrer nofollow">Also Read: ADA Skyrockets; AVAX Left Behind - Discover Why!</a>Unlocking Events of Popular Projects: Several well-known projects, including Aptos (APT), The Sandbox (SAND), and Avalanche (AVAX), have unlocking events planned for February 2024.Aptos (APT) Unlocking Event: Aptos (APT) is scheduled to unlock 7.34% of its total supply on February 11, releasing 24.84 million APT tokens valued at $228.55 million.The Sandbox (SAND) Unlocking Event: On February 14, The Sandbox unlocked $205.59 million worth of SAND tokens, accounting for 9.19% of its circulating supply. At the time of writing, these <a href="https://cryptosheadlines.com/shiba-inu-burn-surges-70-27-million-tokens-burned-0-00001-target/" rel="noopener noreferrer nofollow">tokens were valued at $90.46 million</a>.Optimism (OP) Unlocking Event: On February 29, Ethereum L2 blockchain Optimism will unlock 24.16 million OP tokens valued at $71.51 million, representing 2.52% of its entire supply.Immutable (IMX) Token Distribution: Immutable (IMX), a popular layer two scaling solution on the Ethereum network, has seen significant growth, with its Total Value Locked (TVL) reaching over $36 million, reflecting a 28.8% increase in the last week. However, starting from February 23rd, the <a href="https://cryptosheadlines.com/orbs-network-token-orbs-listed-on-coindcx-exchange/" rel="noopener noreferrer nofollow">network will distribute $2.5 million in IMX tokens</a> over a 28-day period, creating continuous selling pressure on the platform and potentially leading to a negative trend. The project aims to distribute 1.22 million IMX tokens, valued at about $2.37 million per day, during this period.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Avalanche (AVAX) Tanks Before $365M Token Unlock

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