At the end of 2023, AVAX experienced a dramatic surge, skyrocketing from $9 to $44 in just two months.
However, the price has since settled around $20, a level that previously served as resistance. Currently, there’s little on-chain resistance to hinder AVAX’s price movement, leaving its trajectory largely dependent on broader market sentiment.
At the end of 2023, $AVAX surged from $9 to $44 in just two months.
Now trading around $20—a level that previously acted as resistance—we see no significant on-chain resistance nearby. $AVAX's trajectory is currently at the mercy of broader market sentiment. A wave of… pic.twitter.com/8BvnbBTUGf
— IntoTheBlock (@intotheblock) August 19, 2024
If the market turns optimistic, AVAX could rally toward the key resistance level of $30. Conversely, if sentiment sours, the price might dip to $16. Today, AVAX is shining brightly among Real World Asset (RWA) tokens, up by 8%, according to CoinMarketCap data.
AVAX Records Final Token Unlock, A Significant Milestone
Today also marks a significant milestone for AVAX with the final major token unlock: 9.54 million AVAX, accounting for 1.33% of the maximum supply, have been released to the Team, Foundation, Strategic Partners, and Airdrop participants. This unlock is pivotal as it signals a shift to smaller, more gradual releases. From now until July 2030, the AVAX Foundation will only release 1.6 million AVAX (0.22% of the supply) quarterly.
Today marks the final major $AVAX unlock: 9.54M AVAX (1.33% of max supply) for Team, Foundation, Strategic Partners, and Airdrop.
This is a key milestone as we shift to smaller, foundation-only unlocks of 1.6M AVAX (0.22%) quarterly until 20.07.2030. pic.twitter.com/rVTdCjcqn4
— Nicolas Lemaitre (@Ahnor_Block) August 20, 2024
This controlled supply release is expected to provide more stability to AVAX’s price, potentially reducing the volatility associated with large token unlocks. As AVAX continues to navigate its way through the complexities of the market, investors will be closely watching how these developments influence its future performance. With key resistance levels and strategic unlocks in play, AVAX’s next move could be a critical indicator of its long-term trajectory in the crypto space.
Which RWA token is bridging the gap today? 🌟
AVAX soars high while VET climbs steadily, as others follow the upward trend!
Learn more 👉 https://t.co/z9HUgv2DDS pic.twitter.com/YZpM2FPM2Y
— CoinMarketCap (@CoinMarketCap) August 20, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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