Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Avalanche holders brace for $345 million AVAX token unlock and Durango upgrade

Source Fxstreet

Avalanche is set to unlock 9.54 million AVAX tokens on February 22.
Durango upgrade is scheduled for activation on the Fuji Testnet on February 13.
AVAX price recovered slightly, posting 2.33% daily gains on Monday.

Avalanche network has two major events lined up in February 2024. The first is the activation of the Durango upgrade on a testnet, scheduled for February 13, and the next is the $344.65 million token unlock scheduled for February 22.

The events are key to AVAX holders since they could influence the token’s price with an impact on the circulating supply of the asset.

Also read: XRP price trades broadly unchanged leading up to crucial milestone in SEC vs. Ripple lawsuit

Avalanche ecosystem events for February 2024

Avalanche Network pre-released code for an upgrade to the blockchain on February 2. The upgrade will activate on Fuji Testnet at 11 AM ET on Tuesday, February 13. The Durango upgrade is key to the AVAX ecosystem since it focuses on boosting cross-chain communication and improving Avalanche’s scalability.

The Avalanche Warp Messaging (AWM) feature will improve communication on-chain and across chains, resulting in a more interconnected and resilient network. Users will benefit from the seamless interoperability of protocols on Avalanche.

The Durango upgrade’s smooth release on the Fuji Testnet paves the way for its mainnet release soon.

AVAX token unlock

On February 22, Avalanche is set to unlock 9.54 million AVAX worth $345 million. The token unlock represents 2.60% of Avalanche’s circulating supply. AVAX price could suffer a negative impact from the token unlock if the foundation, team and airdrop recipients sell their Avalanche holdings.

The previous token unlock on November 23, worth $198.47 million, triggered a decline of 9.85% within four days. If history repeats itself, the February 22 unlock could usher a near 10% drop in AVAX price.

Avalanche price is $35.62 at the time of writing. AVAX price climbed 2.33% on the daily timeframe.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Will the Palestine-Israel Conflict Impact BTC Safe-Haven Demand? What Is the Future Outlook for BTC?The current Palestinian-Israeli conflict is not enough to stimulate investor demand for BTC, but it cannot be ruled out that the escalation of the conflict will drive BTC to a high of $31,000.

Author Mitrade

Oct 12, 2023

The current Palestinian-Israeli conflict is not enough to stimulate investor demand for BTC, but it cannot be ruled out that the escalation of the conflict will drive BTC to a high of $31,000.

Bitcoin Outlook 2025 As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.

Author TradingKey

Jan 23, Thu

As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.

Ethereum Price Dips May Offer Buying Opportunity — Bulls Eye Reentry Ethereum price extended its increase above the $2,720 zone. ETH is now correcting gains and might revisit the $2,500 support zone. Ethereum started a fresh increase and cleared the $2,720 resistance.

Author NewsBTC

May 15, Thu

Ethereum price extended its increase above the $2,720 zone. ETH is now correcting gains and might revisit the $2,500 support zone. Ethereum started a fresh increase and cleared the $2,720 resistance.

Solana Price Forecast: SOL flashes bearish signals, risks double-digit crash Solana (SOL) price shows early signs of a potential breakdown as it trades lower at $165.40 on Monday. SOL is approaching a key support level that could determine its next major move. Technical indicators flash red, and bearish sentiment intensifies, with short positions hitting a monthly high.

Author FXStreet

May 19, Mon

Solana (SOL) price shows early signs of a potential breakdown as it trades lower at $165.40 on Monday. SOL is approaching a key support level that could determine its next major move. Technical indicators flash red, and bearish sentiment intensifies, with short positions hitting a monthly high.

Dogecoin Follows Bearish June Trend With over 4% Losses – Is The Worst Over?The month of June has been historically bearish for the Dogecoin price, and so far, June 2025 is following the same trend. With just a little over a week into the month, the Dogecoin price has already seen a decline of over 4%, suggesting it is sticking to the established trend. If this is the […]

Author Bitcoinist

Jun 09, Mon

The month of June has been historically bearish for the Dogecoin price, and so far, June 2025 is following the same trend. With just a little over a week into the month, the Dogecoin price has already seen a decline of over 4%, suggesting it is sticking to the established trend. If this is the […]

Popular Symbols