Avalanche (AVAX) is gearing up for a significant unlock event that has sparked speculation among investors. The past month has witnessed a prevailing bearish sentiment, with volume indicators suggesting that the buying pressure might not be robust enough to counter the crypto’s prevailing losses. Despite this recent decline, all eyes are on the impending unlock event, pondering the potential impact it might have on AVAX’s price trajectory. Scheduled to occur later this week, the unlock event is based on data sourced from Token Unlocks. This data indicates that an impressive 9.54 million AVAX tokens, valued at over $100 million, are set to be unlocked on August 26. Such an event has historically brought about substantial market movements, prompting analysts to closely scrutinize the upcoming developments. Source: Token Unlocks AVAX Price Impact: A Waiting Game However, experts caution against expecting an immediate or substantial price reaction to this unlocking event. Previous instances of similar events have been accompanied by downtrends in AVAX’s price. In the wake of such trends, there is a possibility that AVAX might breach t ..
Support the originator by clicking the read the rest link below.
