AVAX Unlocking Event on August 26: 9.54 Million Tokens from Avalanche Worth 103 Million Dollars

Crypto News– This upcoming week, specifically on August 26th, an upcoming token unlocking event has highlighted Avalanche’s plan to release 9.54 million AVAX tokens.

AVAX Unlocking Event on August 26: 9.54 Million Tokens from Avalanche Worth 103 Million Dollars

This represents approximately 2.77% of the total token supply, translating to a significant valuation of around $103 million. The distribution blueprint is as follows: 2.25 million tokens earmarked for strategic partners, 1.67 million tokens for foundational purposes, 4.5 million tokens allocated to the project’s teams, and 1.13 million tokens designated for airdrops.

As of the present moment, AVAX is priced at $10.81 per token, accompanied by a 24-hour trading volume that has reached roughly $80 million. Notably, the Avalanche Foundation took a noteworthy stride last week by awarding up to $3 million worth of AVAX tokens to Dexalot, a central order limit book DEX operating within a subnet. This is part of the larger Multiverse initiative that actively fosters growth across different subnets within the Avalanche ecosystem.

On August 2nd, Balancer, a prominent decentralized automated market maker (AMM) managing an impressive $1 billion in total value locked, made its official entrance onto the Avalanche scene. Avalanche, acknowledged for its high throughput, swift finality, energy efficiency, and scalability via custom Subnets, serves as the perfect host for Balancer’s AMM functionality.

The strategic alignment between Balancer and Avalanche seeks to propel the expansion of liquid staking opportunities while simultaneously providing users access to an adaptable and comprehensive DeFi technology stack.