CandleFocus Avalanche (AVAX) Set for Token Unlock: Will Prices Hold Steady?
2024-11-18
Author: Content Editor
Avalanche (AVAX) is set to release 1.67 million AVAX tokens into circulation in an effort to reduce disruption in the market and support the Avalanche Foundation. The increased liquidity could also lead to greater engagement within the Avalanche ecosystem. Following the token release announcement, AVAX's price declined by 1.62% on its weekly price chart. Analysts have differing predictions for AVAX's future price, with one suggesting a potential return to $130 based on historical market behavior. Another analyst estimates a surge of 660% for AVAX in this cycle due to its high correlation with Ethereum. On-chain activities for AVAX appear bullish, with a surge in large transactions at the beginning of the month. One analyst predicts AVAX could reach $90 by the end of the year. Aside from its price analysis, Avalanche has partnered with Oumla to create Saudi Arabia's first Layer One blockchain, supporting innovation in the region.
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