AVAX Unlock Looms Large: Another Day, Another Dump?
The crypto market is bracing for another potential sell-off as a significant amount of AVAX is set to unlock on November 18th. Approximately $61 million worth of AVAX tokens will be released, adding to the already volatile market conditions.
Token unlocks often lead to increased selling pressure, as holders may choose to liquidate their newly acquired tokens. This could exacerbate the bearish sentiment and drive prices lower. However, it's important to note that the impact of this specific unlock on AVAX's price will depend on various factors, including overall market sentiment, investor behavior, and project fundamentals.
While the upcoming unlock presents a potential risk, it's crucial to consider the long-term prospects of AVAX and the broader cryptocurrency market.