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 - EconoTimes)
Number of tokens unlocked: 1.67 million AVAX
Current circulating supply: 407.35 million AVAX
Avalanche (AVAX) is set to unlock a substantial amount of tokens on November 18, 2024, releasing 1.67 million AVAX tokens valued at around $60 million. This event is part of a scheduled unlock plan that started with the launch of the Avalanche mainnet in September 2020, which has regular token releases every three months until August 2024, then at smaller amounts until July 2030.
Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second.
|
Round |
% of Allocation |
|
Foundation |
+2.50% (+1.67M tokens) |
Market Impact: The unlocking of these tokens allows holders to trade or stake them, which could affect the dynamics of the AVAX market. The previous unlock released a similar amount in February, but it had little effect on the overall supply, which only increased by less than 3%. The Avalanche Foundation usually takes a significant portion of the unlocked tokens to enhance network security and maintain its position as a validator, meaning that not all unlocked tokens will be available for trading right away.
