This week, Avalanche will unlock $100 million worth of AVAX tokens. In total, more than $120 million worth of crypto tokens will be introduced in circulation throughout the week. But hat will be the impact on the market?

Nearly $500 million worth of crypto tokens were scheduled to unlock in August. However, this article will delve into the major token unlocks for this week.

Avalanche (AVAX) Team Set to Release $100 Million Worth of Tokens

According to TokenUnlocks, Avalanche will unlock AVAX tokens on Aug. 26, consisting of 2.77% of the circulation supply. As a matter of fact, unlocking 9.54 million AVAX tokens might add a potential selling pressure of $100 million. The community believes that it is quite a significant number.

Strategic partners, Avalanche Foundation, the team, and airdrop winners are the beneficiaries of the upcoming Avalanche token unlocks.

Impact on AVAX Price?

On May 28, Avalanche unlocked a similar portion of the token. The screenshot below shows that the price of the AVAX token plummeted by more than 30% post-unlock. However, it took the support at the $10.44 price range and bounced back.

Zooming out, the chart shows that $10.44 has been an essential long-term support on a weekly time frame. AVAX has mostly remained above that price range since January 2021. If t

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Author: Harsh Notariya

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