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<div class="finbold">
 <p class="paragraph">Avalanche (AVAX) has seen nearly $1 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> worth of value vanishing from its market cap on February 21. This happened in anticipation of Avalanche’s awaited <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> and sell-offs, as reported by Finbold on February 17.</p>
 <p class="paragraph">In particular, Avalanche currently has a $13.52 million market cap against the $14,42 billion capitalization 24 hours ago.</p>
 <p class="paragraph">Meanwhile, the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> trades at $36.77, with a 367.716 million AVAX circulating supply. In a few hours from the time of writing, vesting contracts will increase this supply by 9.54 million AVAX. Therefore, this creates <a rel="noopener noreferrer nofollow" title="massive" href="https://thebittimes.com/tag/massive.html">massive</a> selling pressure worth over $365 million.</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"> 
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 <p class="paragraph">Interestingly, the current losses may be due to the cryptocurrency market trying to price the expected sell-off. Frontrunning the entities that will benefit from the token’s inflation.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="482" src="https://cdn.thebittimes.com/images/2024/02/22/9b34ad7089c067d682acd5c16ab2f42c.webp" alt class="wp-image-156461" srcset="https://cdn.thebittimes.com/images/2024/02/22/9b34ad7089c067d682acd5c16ab2f42c.webp 1024w, https://cdn.thebittimes.com/images/2024/02/22/9b34ad7089c067d682acd5c16ab2f42c.webp 300w, https://cdn.thebittimes.com/images/2024/02/22/9b34ad7089c067d682acd5c16ab2f42c.webp 768w, https://cdn.thebittimes.com/images/2024/02/22/9b34ad7089c067d682acd5c16ab2f42c.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Avalanche (AVAX) market data and daily market cap chart. Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-avax-token-unlock-and-distribution">AVAX token unlock and distribution</h2>
 <p class="paragraph">Notably, Avalanche’s last unlock happened on August 26, 2023, with a massive impact on the price of AVAX. By then, one token was priced at $10.60, approximately 3.5 times lower than its current rate.</p>
 <p class="paragraph">Regarding distribution, the team is set to receive 47% of the allocations for this year. Starting February 22, team members will have access to liquidate 4.50 million AVAX, valued at approximately $177.62 million.</p>
 <p class="paragraph">Moreover, both ‘Strategic Partners’ and the ‘Foundation’ will see their treasuries grow by an addition of 2.25 million and 1.67 million AVAX, respectively. This scenario poses a potential risk of a sell-off exceeding $154.6 million by these parties.</p>
 <p class="paragraph">However, the highest liquidity <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> involves 1.13 million AVAX ($44.40 million) designated for a community airdrop. This is due to retail having a less-strategic selling behavior.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="662" height="560" src="https://cdn.thebittimes.com/images/2024/02/22/f4416df8511954f9d9a78bf027e218dc.webp" alt class="wp-image-156462" srcset="https://cdn.thebittimes.com/images/2024/02/22/f4416df8511954f9d9a78bf027e218dc.webp 662w, https://cdn.thebittimes.com/images/2024/02/22/f4416df8511954f9d9a78bf027e218dc.webp 300w" sizes="(max-width: 662px) 100vw, 662px">
  <figcaption class="wp-element-caption">
   February 21 AVAX unlock distribution. Source: <em>TokenUnlocksApp</em>
  </figcaption>
 </figure>
 <p class="paragraph">In conclusion, Avalanche investors and cryptocurrency traders must speculate with caution in the following days. Cryptocurrencies are volatile and unpredictable, moved by whales and market makers looking for the highest possible profits.</p>
 <p class="paragraph">Such a massive token unlock could fuel the already happening sell-off, further impacting 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/1-billion-wiped-from-avax-in-a-day-amid-massive-token-unlock-tbt80423.html">https://thebittimes.com/1-billion-wiped-from-avax-in-a-day-amid-massive-token-unlock-tbt80423.html</a></p>

$1 billion wiped from AVAX in a day amid massive token unlock

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