Everyone said they wanted to trade US dollars, so I held $AAVE , $Uni, $APT and $Sui, and added some $AVAX at around $42. One of the key reasons was that they spent $52 million to redeem 1.97 million tokens in the LFG reserve on November 7.
It is obvious that such a large amount of money to buy back tokens is not for nothing, right?
However, the embarrassing thing is that the price of the currency has been flat after breaking through the $50 mark, with almost no obvious movement, and the progress of the project is not common, which once made me think of changing my position. However, it turns out that they may be brewing a big move.
Avalanche is a pure American public chain founded by Emin Gün Sirer (nicknamed "Rolling Professor"), a well-known professor at Cornell University. It once brought rich returns with its ICO, but in the last cycle, due to the collapse of Luna, LFG withheld a large amount of $AVAX , which led to setbacks in the development of the project, and the market has not heard of major progress for a long time.
This redemption of tokens and obtaining $250 million in funds is undoubtedly good news. Sufficient funds on hand can not only support the development of the ecosystem, but also have the opportunity to drive market performance.
It is worth noting that Professor Gun recently mentioned on Twitter that Avalanche is in contact with the incoming new US government and plans to formulate the next strategy based on the results of the discussion. Therefore, I decided to continue to hold the existing position and wait and see the subsequent progress.
It is obvious that such a large amount of money to buy back tokens is not for nothing, right?
However, the embarrassing thing is that the price of the currency has been flat after breaking through the $50 mark, with almost no obvious movement, and the progress of the project is not common, which once made me think of changing my position. However, it turns out that they may be brewing a big move.
Avalanche is a pure American public chain founded by Emin Gün Sirer (nicknamed "Rolling Professor"), a well-known professor at Cornell University. It once brought rich returns with its ICO, but in the last cycle, due to the collapse of Luna, LFG withheld a large amount of $AVAX , which led to setbacks in the development of the project, and the market has not heard of major progress for a long time.
This redemption of tokens and obtaining $250 million in funds is undoubtedly good news. Sufficient funds on hand can not only support the development of the ecosystem, but also have the opportunity to drive market performance.
It is worth noting that Professor Gun recently mentioned on Twitter that Avalanche is in contact with the incoming new US government and plans to formulate the next strategy based on the results of the discussion. Therefore, I decided to continue to hold the existing position and wait and see the subsequent progress.