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Avalanche To Unleash 9.5 Million Tokens, Traders Brace For Impact
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Avalanche To Unleash 9.5 Million Tokens, Traders Brace For Impact

Christian Encila
Christian Encila
1 year ago
3 mins read
Avalanche

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Avalanche, the blockchain platform poised for a major event in the month of love, is gearing up for a significant development. As February unfolds, the cryptocurrency market is anticipating the release of nearly $900 million worth of vested tokens from a diverse array of projects. This imminent influx into the market has sparked a wave of concerns among investors who are closely watching the unfolding scenario.

Projects involved in this token release include Avalanche (AVAX), Aptos (APT), The Sandbox (SAND), Optimism (OP), and SUI. Avalanche is strategically targeting strategic partners, team members, and an airdrop to maintain a balance between long-term commitment and potential short-term sell-offs.

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Avalanche Braces For Major Token Release

Scheduled for release on February 22, Avalanche is set to unleash 9.5 million tokens valued at approximately $320 million. Similarly, Aptos is gearing up to release 24.8 million tokens worth around $233 million on February 11. The distribution strategy for Aptos aims to ensure market stability while fostering community involvement.

The impending release of these vested tokens has put the crypto community on high alert. Investors and analysts are closely monitoring the developments with a mix of excitement and caution. While anticipation surrounds the token releases, there is also a sense of vigilance as market participants evaluate how the surge in supply might impact project valuations and overall stability.

Avalanche currently trading at $35.76 on the daily chart: TradingView.com

Navigating A Potential Correction Phase: AVAX Price Analysis

Avalanche (AVAX) has recently caught the attention of the market with an impressive price performance, boasting a remarkable 470% increase after breaking through its bear market descending trendline on November 1.

Recent analyses suggest that AVAX is currently facing resistance at a descending trendline from the December high, which could lead to a price rejection and subsequent decrease.

If this correction signifies the commencement of a lasting bull phase for Avalanche, support levels around $20, aligning with the 0.5 to 0.618 Fibonacci retracement levels, may come into play. Following this correction phase, AVAX could potentially embark on a new uptrend, surpassing its all-time high.

Image source: DefiLlama

Meanwhile, AVAX has grown exponentially in the last year, and according to DeFiLlama data, it is now the sixth-largest DeFi chain. An artificial intelligence (AI) based price prediction model has predicted that the AVAX token’s price would soar by more than 500% from its present levels, reaching over $200 by the beginning of 2025.

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Previous AVAX Unlock And Its Impact On The Market

It’s crucial to note that AVAX’s previous token unlock on November 23 did not cause significant price fluctuations. However, in the anticipation leading up to the unlock, the price experienced a 16% fall from nearly $23 on November 20 to $19 at the tokens’ release.

This historical precedent underscores the importance of closely monitoring market dynamics during token release events. Market participants should exercise caution and carefully consider the potential impact of these developments on their investment strategies.

Featured image from Adobe Stock, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

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Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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