Avalanche price may fluctuate on unlock of $369 million worth AVAX tokens Today
layer 1 blockchain network Avalanche will unlock 9.54 million AVAX tokens, worth about $369 million, on Wednesday, May 22. Protocol team members will receive just under half of the tokens, worth about $174 million, while strategic partners will see roughly $86.92 million in AVAX tokens released to them. $64.39 million has been reserved for the Avalanche Foundation, while the final $43.46 million tranche is for potential airdrops
Token unlocks refer to the gradual process of releasing previously restricted tokens into the circulating supply, enabling token holders of these once-frozen tokens to use them as they see fit, which could include selling their tokens on a decentralized exchange or using them as collateral in a lending protocol.
While the price of Avax may Fluctuate and decreased as per supply demand formula may even more sever if ETF ETH rejected
so be careful watch situation closly
Care your assets Guys