Avalanche (AVAX), the Layer 1 blockchain project, is preparing for a significant token unlock scheduled for November 24.
This release will see 9.54 million AVAX tokens become accessible, with a total value of around $109.64 million. These tokens represent 2.69% of Avalanche’s circulating supply.
The upcoming token unlock will have four primary beneficiaries:
- Strategic Partners: 2.25 million tokens will be unlocked, and these tokens are valued at around $25.85 million.
- Avalanche Foundation: 1.67 million tokens will be unlocked, with a total value of approximately $19.15 million.
- Team: 4.50 million tokens, worth roughly $51.71 million, are set to be unlocked for the Avalanche team.
- Airdrop Winners: 1.13 million tokens, valued at about $12.93 million, will be unlocked for the lucky recipients of the airdrop.
This token unlock is a significant event for the Avalanche ecosystem and its stakeholders, as it provides access to a substantial amount of AVAX tokens for various purposes, including further development, partnerships, and rewarding airdrop participants.
Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.
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