Avalanche’s native cryptocurrency, AVAX, has faced a downturn in the market as it approaches a notable event: the release of $365 million worth of tokens. This event has attracted attention because it could influence AVAX’s price and market behavior.
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In the past, similar large token releases in the crypto world have typically led to price drops. This occurs because the increased supply of tokens can surpass demand, causing prices to fall.

Avalanche (AVAX) Faces Pressure Amidst $365M Unlocking Event
The native cryptocurrency of the Avalanche (AVAX) network has shown relative weakness compared to other digital assets this week, coinciding with a significant unlocking event involving $365 million worth of tokens, thereby increasing its supply.
As of the time of writing, Avalanche (AVAX) is trading at $37.96, marking a 0.5% decline from an hour ago and a 3.3% decrease from yesterday. Notably, AVAX’s value today is 4.2% lower than it was seven days ago, reflecting recent market trends.
According to Token.Unlocks, approximately 9.5 million previously locked-up Avalanche tokens, valued at $365 million, are scheduled to be released on Thursday. This release is expected to increase the asset’s circulation supply by roughly 2.6%.
The unlocked tokens will be distributed as follows: 4.5 million to team members, 2.25 million to strategic partners, 1.67 million to the ecosystem development foundation, and 1.13 million for airdrop purposes.
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On-chain data reveals that approximately 58% of AVAX’s tokens have been unlocked. Token unlocks lead to an expansion in the asset’s supply by freeing previously locked-up coins from vesting periods, including those for early investors.

Bearish Pressure on Arbitrum (ARB) and Avalanche (AVAX)
Arbitrum (ARB) and Avalanche (AVAX) have encountered significant bearish pressure as investors brace themselves for upcoming token unlocks, leading to recent price declines and selling pressure on both projects.
Arbitrum emerged as a platform where developers collaborate to build applications that are accessible, practical, economically viable, and offer faster transactions compared to Ethereum. However, it recently experienced a notable sell-off as investors prepared for an impending token release in March.
Over $1 billion worth of ARB tokens are set to be unlocked starting from March 16. This influx of selling pressure is expected to substantially reduce the project’s overall market value.
The price decrease mirrors the downward trend observed in certain emerging altcoins, which recently hit year-to-date all-time lows, coinciding with a bear market bottom in Bitcoin search trends. As a result, ARB whales have been selling their shares, leaving Arbitrum vulnerable to market fluctuations.
Investor Interest Shifts to Algotech (ALGT)
In response to these market conditions, investors are turning their attention to Algotech (ALGT) for its appealing investment opportunities.
Algotech (ALGT) aims to revolutionize decentralized finance using technology and machine intelligence. Investors are attracted to the platform’s innovative features, including momentum trading, mean reversion, and optimized algorithms, which promise smooth market performance.
Algotech’s primary goal is to provide customers with intelligent and efficient data management tools by leveraging artificial intelligence and modern technologies.
Busy Month Ahead for Crypto Assets
February is expected to be a hectic month for crypto assets, with many projects unlocking tokens totaling over $800 million. According to TokenUnlocks statistics, 26 crypto projects are scheduled to unlock tokens, potentially flooding the market with approximately $1 billion worth of crypto assets.

Unlocking Events of Popular Projects: Several well-known projects, including Aptos (APT), The Sandbox (SAND), and Avalanche (AVAX), have unlocking events planned for February 2024.
Aptos (APT) Unlocking Event: Aptos (APT) is scheduled to unlock 7.34% of its total supply on February 11, releasing 24.84 million APT tokens valued at $228.55 million.
The Sandbox (SAND) Unlocking Event: On February 14, The Sandbox unlocked $205.59 million worth of SAND tokens, accounting for 9.19% of its circulating supply. At the time of writing, these tokens were valued at $90.46 million.
Optimism (OP) Unlocking Event: On February 29, Ethereum L2 blockchain Optimism will unlock 24.16 million OP tokens valued at $71.51 million, representing 2.52% of its entire supply.
Immutable (IMX) Token Distribution: Immutable (IMX), a popular layer two scaling solution on the Ethereum network, has seen significant growth, with its Total Value Locked (TVL) reaching over $36 million, reflecting a 28.8% increase in the last week. However, starting from February 23rd, the network will distribute $2.5 million in IMX tokens over a 28-day period, creating continuous selling pressure on the platform and potentially leading to a negative trend. The project aims to distribute 1.22 million IMX tokens, valued at about $2.37 million per day, during this period.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
 

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Avalanche is a decentralized blockchain platform that was designed to provide fast and secure transactions for users. Since its launch in 2020, Avalanche has become increasingly popular and has attracted a lot of attention from both investors and developers. In this article, we will discuss the top 10 most popular projects on Avalanche.

Avascan

Avascan is a blockchain explorer that provides users with detailed information about the Avalanche network. It allows users to view the status of the network, the number of transactions that have been processed, and other important metrics. Avascan is an essential tool for developers who are building applications on the Avalanche platform.

Lydian

Lydian is a decentralized exchange (DEX) that runs on the Avalanche blockchain. It provides users with a fast and secure way to trade cryptocurrencies without the need for a centralized intermediary. Lydian offers a wide range of trading pairs and supports the use of stablecoins.

Pangolin

Pangolin is another decentralized exchange that runs on the Avalanche blockchain. It offers users a simple and intuitive interface that makes it easy to trade cryptocurrencies. Pangolin is particularly popular among users who are looking for a DEX that offers low fees and fast transaction times.

Trader Joe

Trader Joe is a decentralized finance (DeFi) protocol that runs on the Avalanche blockchain. It provides users with a range of financial services, including lending, borrowing, and trading. Trader Joe is particularly popular among users who are looking for a DeFi platform that offers high yields and low fees.

Snowball

Snowball is a DeFi platform that allows users to invest in a range of different cryptocurrency assets. It offers users a simple and easy-to-use interface that makes it easy to manage their investments. Snowball is particularly popular among users who are looking for a low-risk way to invest in cryptocurrency.

Avaware

Avaware is a network of validators that are responsible for processing transactions on the Avalanche blockchain. Validators are essential to the functioning of any blockchain network, and Avaware provides users with a reliable and secure way to participate in the validation process.

Apricot

Apricot is a decentralized lending platform that runs on the Avalanche blockchain. It allows users to borrow and lend cryptocurrencies without the need for a centralized intermediary. Apricot offers users a range of different lending options, including fixed-rate loans and variable-rate loans.

Olive

Olive is a decentralized insurance platform that runs on the Avalanche blockchain. It allows users to purchase insurance policies for a range of different risks, including smart contract failures and security breaches. Olive is particularly popular among users who are looking for a way to protect their cryptocurrency investments.

Benqi

Benqi is a DeFi protocol that allows users to earn interest on their cryptocurrency holdings. It offers users a range of different staking options, including liquidity mining and yield farming. Benqi is particularly popular among users who are looking for a way to earn passive income from their cryptocurrency investments.

TrueUSD

TrueUSD is a stablecoin that runs on the Avalanche blockchain. It is pegged to the US dollar, which means that its value remains stable over time. TrueUSD is particularly popular among users who are looking for a way to trade cryptocurrencies without the volatility that is often associated with the crypto markets.

In conclusion, Avalanche is a rapidly growing blockchain platform that offers users a range of different services and applications. The projects listed above represent some of the most popular and innovative projects that are currently running on the Avalanche network. As the popularity of Avalanche continues to grow, we can expect to see even more exciting projects and applications being developed in the coming months and years.

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