Avalanche (AVAX) unlocks approximately $138 million worth of AVAX on the night of May 28.
Decentralized smart contracts project Avalanche will unlock tokens for 9,541,800 AVAX. It is noteworthy that AVAX worth approximately $138 million will enter circulation. The amounts to be transferred to the team and the foundation from this transaction, which will take place on May 28, are at serious levels.
Avalanche Unlocks $138M AVAX
Decentralized smart contracts project Avalanche unlocks 9,541,800 AVAX around 03:00 on May 28. The approximately $138 million AVAXs will go through various distributions.
According to data from TokenUnlocks, a serious token unlock will take place for AVAX after 5 days. Avalanche will transfer close to 50 percent of 9,541,800 AVAX to the team.
In these coins that will enter circulation, 4,500,000 AVAX ($65 million) will be sent to the team. In addition, it is reported that 2,250,000 AVAX ($32.5 million) will be sent to strategic partners.
According to TokenUnlock, 1,666,800 AVAX ($24 million) is also planned to be sent to the foundation. In addition, Avalanche will perform an airdrop of 1,125,000 AVAX ($16.2 million). It is not specified how and how this airdrop will be done.
Moving at $14.46, AVAX has a market cap of $4.8 billion. The effect of unlocking the $136 million AVAX on the market situation is curious. Also, 50 percent of AVAX is locked.
Finally, TokenUnlocks reports that Avalanche has unlocked $1.45 million in AVAX daily.
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