Avalanche (AVAX) Token Unlock Scheduled Next Week
Date: 2024-02-18 Author: Dima Zakharov Categories: BUSINESS
Avalanche Token Unlock: What to Expect
Avalanche (AVAX) faces a significant event next week as $400 million worth of tokens are set to be unlocked. On February 21st, contracts will release 9.54 million AVAX tokens, totaling $376.61 million, according to data from TokenUnlocksApp as of February 17th.
Dominance and Scale of Unlocking
Notably, Avalanche dominates the overall unlocking volume for the next seven days, accounting for over 86%.
Distribution and Impact
This massive unlocking represents 2.6% of Avalanche's current circulating supply of 367.51 million AVAX. According to CoinGecko, this amount is 27 times greater than the 24-hour trading volume of $13.80 billion.
Distribution Breakdown
Regarding distribution, the team will receive 47% of this year's semi-unlocking. After February 21st, team members will be able to liquidate 4.50 million AVAX, valued at $177.62 million currently.
Strategic partners and the Foundation will increase their holdings by 2.25 million and 1.67 million AVAX, respectively. However, the most substantial unlock will be 1.13 million AVAX ($44.40 million), intended for distribution among the community.
Market Performance
On the evening of February 17th, AVAX was trading at $39.56, showing minor daily losses of 0.8% and a weekly gain of 0.6%.
