Avalanche is closer to unlocking a significant chunk of its native token AVAX, with this coming at a time a crypto sell-off has put pressure on prices. With AVAX price down nearly 14% in the past week and over 25% in the last 30 days, the impending token unlock is definitely one to watch for Avalanche. Details on the platform Token Unlocks shows that the smart contracts platform is poised for a supply surge of 9.54 million AVAX tokens. That means over $103 million worth of AVAX tokens will soon be released into circulating supply. The event is scheduled for August 26 and will see the network add to its circulating supply by 2.77%. Avalanche has so far unlocked 379.79 million AVAX tokens.
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