In the past few weeks, new public chain concept coins have performed very well. Among them, although the public chain project Avalanche reported news of layoffs, its native token AVAX still increased by more than 145% in the past month. However, investors may need to be careful about the upcoming supply unlock this week.
According to data from Token Unlock, 9.54 million AVAX tokens will be unlocked this week, with a total value of approximately US$216 million, accounting for approximately 2.68% of the total circulation. In the past six unlocks, AVAX has experienced price corrections of several days. However, this unlock has coincided with a rebound in the overall market. Market sentiment and liquidity have significantly improved. Whether the trends in previous rounds will be repeated remains to be seen.
In addition to AVAX, domain name protocol Space ID and NFT trading platform LooksRare also unlocked tokens worth over one million US dollars this week, with the unlocked amount accounting for more than 6% of the current circulation.
