Avalanche (AVAX) under pressure, Chainlink (LINK) whales on the hunt, and Algotech’s (ALGT) AI trading takes flight! Don’t miss this week’s hottest crypto news.
/Algotech/ – Avalanche (AVAX) under pressure, Chainlink (LINK) whales on the hunt, and Algotech’s (ALGT) AI trading takes flight! Don’t miss this week’s hottest crypto news.
Avalanche (AVAX) Price Could Dip: Big Token Release Coming Soon
Avalanche (AVAX) is set to unlock nearly $400 million worth of tokens this week, raising concerns about potential price drops. This unlock is part of a regular release in the Proof-of-Stake system, where new Avalanche (AVAX) tokens are created.
On February 21st, 9.5 million Avalanche tokens, worth around $376 million, will be released. This represents a significant 2.6% of the current circulating supply of Avalanche (AVAX). This is 27 times larger than the usual daily trading volume.
As far as the half unlock distribution goes, the ‘Team’ will receive 47% of it. After February 21, team members will be able to liquidate 4.50 million Avalanche (AVAX) tokens, currently worth $177.62 million.
Furthermore, ‘Strategic Partners’ and the ‘Foundation’ will increase their treasury by 2.25 million and 1.67 million Avalanche (AVAX) tokens, respectively. Furthermore, the current Avalanche (AVAX) price is $40.23. Avalanche (AVAX) is up 0.68% in the last 24 hours.
Chainlink’s (LINK) Price Might Get a Boost: Big Players Are Buying
Chainlink (LINK) is seeing some interesting activity lately. In the past two weeks, a large player has been quietly buying up millions of Chainlink (LINK) tokens. This buying spree of Chainlink (LINK), totaling over $216 million, has coincided with a price increase of nearly 5%.
This isn’t the first time this “whale” has made waves. In the second week of February, they purchased over 5 million Chainlink (LINK) tokens, also followed by a 15% price jump.
Moreover, the recent accumulation of Chainlink (LINK) by a major investor is a positive sign for the token’s short-term outlook. Despite the big buy-in, the current Chainlink price is down 0.34% in the past 24 hours, sitting at $19.88.
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This rising star rocketed into the spotlight by raising over $1 million in just two days during its private sale. Now, Algotech (ALGT) is opening its doors to everyone with an exciting presale offer. But what makes Algotech (ALGT) so different?
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Furthermore, the presale is already underway, with stage one selling out fast! Nearly 15 million tokens have already been snapped up, and the current price sits at a mere $0.04. Analysts predict a potential 275% price surge by the end, making it a mouthwatering opportunity.
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