Crypto News – The release of almost $900 million worth of vested tokens from projects including Avalanche (AVAX), Aptos (APT), The Sandbox (SAND), Optimism (OP), and SUI is anticipated to occur in February on the cryptocurrency market.
How Will the AVAX Crypto Price Be Affected by the 9.5 Million Token Release?
Concerns over price declines have been raised by the introduction of nearly $900 million worth of vested tokens into the cryptocurrency market. Analysts and investors actively monitor these changes, taking into account the possible effects they may have on the market. In spite of the excitement around the token releases, the cryptocurrency community is becoming cautious.
AVAX Price Expected to Fall in February
In order to strike a balance between long-term commitment and short-term sell-offs, Avalanche is leading the way with an airdrop and the scheduled release of 9.5 million tokens, worth roughly $320 million, on February 22. The tokens are intended for strategic partners and team members. AVAX tokens were unlocked in the same quantity on November 23. In addition to being set aside for airdrops and staking, those tokens were subsequently given to team members and important partners.
Following its previous release on November 23, AVAX‘s price stayed steady. But before the excitement could be unlocked, the price dropped 16%, from almost $23 on November 20 to $19 when the tokens were released. As a result, based on this correlation and the findings of the chart analysis, one can predict that AVAX will fall in February.
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