Avalanche Foundation Repurchases $$ 52 Million in AVAX Tokens from Defunct Luna Foundation Guard

The Avalanche Foundation has announced the repurchase of $$ 52 million in AVAX tokens held by the Luna Foundation Guard, created by Do Kwon before the collapse of the Terra ecosystem. The move aims to reduce potential selling pressure on AVAX and strengthen the token economy, reinforcing Avalanche’s commitment to the stability and sustainable growth of its blockchain.

Source: The Block