Token

Cryptocurrency

Avalanche

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-avax-token-unlock-event-impacts-price/" data-wpel-link="internal">Avalanche (AVAX) Token Unlock Event Impacts Price</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/montreal-bankasi-kripto-paralari-yasakliyor" data-wpel-link="internal">Cryptocurrency</a> market participants, especially those invested in <strong>AVAX</strong>, are experiencing the anxiety of an upcoming token unlock. Tomorrow, AVAX will unlock tokens valued at $382 million. This event is currently reflecting negatively on the cryptocurrency’s price. So, what can be expected for AVAX in the next stages? What should investors pay attention to?</p> 
<h2 style="text-align: justify" id="avalanche-avax-unlock-event-affects-its-price">Avalanche (AVAX) Unlock Event Affects Its Price</h2> 
<p style="text-align: justify">The cryptocurrency <strong><a href="https://en.coin-turk.com/avax-coin-analysis-price-breaks-resistance-whats-next/" data-wpel-link="internal">Avalanche</a></strong> (AVAX) recorded a drop of over 5% today, while the broader crypto market was gaining. This decline coincides with a significant unlock event scheduled for Thursday, which will release 9.5 million AVAX tokens worth $382 million into circulation.</p> 
<p style="text-align: justify">The unlocked tokens will be distributed to team members, strategic partners, the ecosystem development foundation, and airdrop recipients. This will result in a 2.6% increase in the total AVAX supply, pointing to a potential loss in value.</p> 
<p style="text-align: justify">Looking at historical data, major token unlocks typically lead to price drops due to an imbalance between supply increase and investor demand. This trend suggests that AVAX may face further price pressure as the event progresses.</p> 
<h2 style="text-align: justify" id="current-avax-price-situation">Current AVAX Price Situation</h2> 
<p style="text-align: justify">AVAX is currently trading at $36.56, following a rally from $9.1 to $48.3 in the last quarter of 2023. However, AVAX is still significantly below its all-time high of $147. Approximately 51% of all AVAX tokens are currently in circulation. On the other hand, the market value of the cryptocurrency Avalanche (AVAX) is around $13.5 billion.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-317641 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/avax-usdt-coin-turk-com-.png" alt="" width="1564" height="836"></p> 
<p style="text-align: justify"><strong>Cryptocurrency</strong> investors closely monitor unlock events, as they are considered significant occurrences in the crypto markets. Therefore, investors in the market closely follow the prices of a cryptocurrency before the unlocking of its tokens. The AVAX token unlock event could have short and medium-term effects on the crypto market. However, the overall impact seems unlikely as this unlock is an internal matter for the cryptocurrency.</p> 
<p>Finally, it is difficult to say that every token unlock will definitely lead to a price drop because some crypto projects experience price increases despite unlocks. Nonetheless, it is beneficial for investors to keep an eye on prices.</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/avalanche-avax-token-unlock-event-impacts-price/" data-wpel-link="internal">Avalanche (AVAX) Token Unlock Event Impacts Price</a></h5>

Avalanche (AVAX) Token Unlock Event Impacts Price

목차

COINTURK NEWS

2024년 2월 21일에 게재된 다른 기사

Sam Altman’s WorldCoin Hits New ATH as Wallet Gains 1M Users; $GFOX Presale 90% Sold-Out

VanEck’s Bitcoin ETF Sees Sudden Surge in Trading Volume

Frax Share Crypto: A Bullish and Bearish Outlook for 2024?

GAIMIN announces the world’s first L2 gaming blockchain on BNB Chain.

Tens of Millions of XRP Out of Binance and into Unknown

Ripple spearheads $25M push for Crypto-Savvy leaders

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!