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.
A large number of Avalanche (AVAX) tokens are set to be unlocked on November 18, 2024. As part of a scheduled plan, the tokens will be unlocked every three months until August 2024, followed by smaller amounts until July 2030.
This time, 1.67 million AVAX tokens will be unlocked, which is valued at approximately $60 million. The tokens can either be traded or staked by the holders, impacting the dynamics of the AVAX market.
However, the majority of the unlocked tokens are usually taken by the Avalanche Foundation to enhance network security and maintain its role as a validator. This means that not all of the unlocked tokens will be available for immediate trading.
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%.
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