Avalon Labs’ AVL token jumped 21% following the burn of 80 million tokens, sparking renewed investor interest.
By Parth Dubey
Edited by Julia Sakovich
Updated
3 mins read
Following a recent major token burn event, Avalon Labs’ native token, AVL, has recorded an impressive 21% price surge, now trading at around $0.2085. The rally is notable as the broader crypto market recorded slow movement on June 9.
As per a recent X post, Avalon Labs permanently removed 80 million AVL tokens from circulation, representing 44% of the token’s circulating supply.
Avalon Labs has officially burned 80M $AVL, representing 44% of the circulating supply.
These unclaimed airdrop tokens, worth approximately $16 million, have now been permanently removed from circulation. Over the past year, a total of $20M worth of $AVL has been claimed by… pic.twitter.com/GXMWKpmbNF
— Avalon Labs 🎩🔮 (@avalonfinance_) June 9, 2025
The project stated that the burnt supply was unclaimed airdrop tokens, worth roughly $16 million. Notably, over the past year, more than 100,000 wallets have claimed AVL tokens, amounting to around $20 million in distributed value.
“As $AVL enters a deflationary cycle, more value will be unlocked, aligning long-term incentives and strengthening the foundation of our ecosystem,” reads Avalon Labs’ public statement.
Token burns reduce the circulating supply of a cryptocurrency, often leading to upward price pressure. Experts are speculating on long-term value creation within the Avalon ecosystem. The announcement resulted in a 90% surge in AVL’s 24-hour trading volume, reaching $31 million.
At the time of writing, AVL ranks 649th among cryptocurrencies by market capitalization, standing at $33.62 million. The token had reached a peak of $0.756 in March but has trended downward since, dropping 25% over the past month.
On the 4-hour chart, the price has broken above the upper Bollinger Band. This often signals overextension, but also a bullish breakout signal if sustained. A clear breakout above the recent high of $0.223 could lead to further gains.
AVL price chart with MACD | Source: TradingView
The RSI stands at 67 with a sharp upward gradient, nearing the overbought region, suggesting short-term overheating but not extreme levels yet. If AVL sees a price drop, traders could expect a buy wall around $0.186.
Meanwhile, the MACD has crossed into bullish territory, with the MACD line climbing above the signal line. Green histogram bars are rising steadily, pointing to growing upward momentum.
AVL price chart with MACD | Source: TradingView
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
