AVAX Holders Beware: $204 Million Token Unlock Could Trigger Price Crash Today
Summary
Cryptocurrencies can experience market crashes with the unlocking of tokens, creating an influx of coins entering retail circulation, which can affect token prices. Cryptocurrency AVAX is about to experience a significant unlock of 9.5 million tokens, which will inflate the AVAX supply and could negatively impact the token's price. The last time AVAX underwent a similar unlock, the price experienced only a small dip as the event had been priced in. However, this time the token's price has risen rapidly in recent days, which could prompt investor selling to secure gains. Increased selling could echo a previous event where AVAX prices fell more than 70% due to aggressive profit-taking. If the situation repeats, AVAX prices could drop to $10.
