A major unlock event for Avalanche (AVAX) is on the horizon, with 9.54 million AVAX tokens set to be released on August 26, according to data from Token Unlocks, a website that tracks token issuance schedules.
Avalanche (AVAX) Unlock Date Approaching
This unlock represents 2.77% of the total AVAX supply and equates to a market cap of approximately $103 million.
Token unlocking will cover various categories including strategic partners, foundations, teams and airdrops, and each will receive a portion of newly released AVAX tokens. The distribution of unlocked tokens is as follows:
Strategic Partners: 2.25 million AVAX Foundations: 1.67 million AVAX Teams: 4.5 million AVAX Airdrop: 1.13 million AVAX
These locks mark an important stage in Avalanche's development and ecosystem expansion, as the tokens released will play a crucial role in advancing the platform's growth and innovation.
Strategic partners, foundations, teams and airdrop recipients will contribute to the ongoing development of the network.
At the time of the news, AVAX was priced at $10.71 with a 24-hour trading volume of around $80 million.
As with any unlocking event, market participants and enthusiasts are advised to keep a close eye on the situation and keep up with the official announcements from the Avalanche team.
Because the unlocking of tokens can often have an impact on market dynamics and investor sentiment, which can lead to sharp price volatility.
*Not investment advice.
