Unlocking Plan for Avax Tokens: What You Need to Know
According to reports, the latest unlocking plan for Avax tokens will be completed within one month, and tokens worth 168 million US dollars will be released at current prices. Acco
According to reports, the latest unlocking plan for Avax tokens will be completed within one month, and tokens worth 168 million US dollars will be released at current prices. According to Token Unlocks data, 9541800 Avax tokens worth over $168 million (at current prices) will be unlocked on May 28th. Considering that the circulation supply of this token is 327 million, the planned unlocking of nearly 10 million Avax tokens accounts for over 3% of all circulation tokens.
Data: AVAX tokens worth $168 million will be unlocked on May 28th
Avax, the cryptocurrency under the Avalanche network, seems to be making headlines again with the latest unlocking plan. Reports state that over 9.5 million Avax tokens, worth $168 million at current prices, will be unlocked on May 28th. With the circulating supply of Avax tokens at 327 million, this planned unlocking accounts for over 3% of all the circulation tokens. But what does this mean for investors, and how will this affect the Avax market? Let’s find out.
What is Avax?
Before diving into the unlocking plan, let’s have a quick look at what Avax is. Avax is the native cryptocurrency of Avalanche, which is a decentralized platform that enables developers to create and launch their own decentralized applications (DApps). It was launched in September 2020, and the network has been gaining popularity due to its fast transaction speeds, low fees, and interoperability capabilities.
The Unlocking Plan
According to Token Unlocks data, 9,541,800 Avax tokens will be unlocked on May 28th. This unlocking marks the second phase of the plan, with the first phase having already been completed in February 2021. The third, and final, phase is scheduled for September 2021. The unlocking plan enables investors, the Avalanche Foundation, and other stakeholders to access their tokens, which were initially locked up for a period of time.
How Will it Affect Avax Market?
The unlocking of such a huge amount of tokens can have a significant impact on the Avax market. Initially, it may lead to an increase in trading volume as investors attempt to sell their unlocked tokens. However, it can also lead to a decrease in prices due to the sudden influx of tokens in the market and can have a negative impact on the price. On the other hand, if the demand for Avax exceeds the newly added tokens, it may cause the price to go up.
Investor’s Perspective
Investors who have locked up their Avax tokens are likely to be the most affected by the unlocking. For those who intend to sell their tokens, the unlocking could present an opportunity to earn profits. For those who wish to hold onto their tokens, it may be a good time to assess the market and make an informed decision on whether to hold or sell.
Conclusion
The unlocking of 9.5 million Avax tokens on May 28th is a significant event in the world of cryptocurrency. The unlocking plan, which enables stakeholders to access their tokens, also presents an opportunity for traders and investors. However, it is important to be cautious and to take a long-term view when assessing the market and making investment decisions.
FAQs
Q: What is the purpose of the unlocking plan?
A: The unlocking plan enables stakeholders to access their tokens, which were initially locked up for a period of time.
Q: How will the unlocking affect prices?
A: The unlocking of such a huge amount of tokens can lead to a decrease in prices due to the sudden influx of tokens in the market. However, if the demand for Avax exceeds the newly added tokens, it may cause the price to go up.
Q: What should investors do during the unlocking period?
A: Investors should assess the market and make an informed decision on whether to hold or sell their tokens.
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