Avalanche price prediction for August 26 ahead of massive token unlock

Avalanche (AVAX) — among the leading layer-1 blockchains for DeFi and Web3 — could suffer a significant negative impact in price on August 26, as 9.54 million AVAX ($101.14 million, at press time prices) of new tokens will be put into circulation on this day.

Timeline of Avalanche

Following the remarkable recovery in early 2023, the AVAX price action enters a crushing correction phase. Experiencing extensive selling pressure at $21, the AVAX prices fail to find support at any crucial level for long. Bouncing back from $11 in June lit lamps of hope for Avalanche, leading to a 32% gain to reach $15.

The world of cryptocurrency is on the brink of a revolutionary transformation as Inspect, a pioneering force in the Web3 domain, and Avalanche, a dynamic smart contracts platform, join forces to pioneer multichain innovation. This strategic partnership, announced by the two companies, heralds a new chapter in the evolution of

AVAX staking will reportedly be among the services offered through AvaCloud. In other words, Avalache just unlocked a new corridor that will facilitate AVAX demand for staking which may encourage a long-term bias.

Avalanche (AVAX) has found itself ensnared within a critical price zone, grappling with a lackluster trading volume that has hindered its price action. The coin's journey has been fraught with challenges as market sentiment takes a bearish stance, casting shadows over its potential upward trajectory.

Ethereum (ETH) competitor Avalance (AVAX) witnessed an uptick in on-chain activity in the second quarter of 2023, according to the crypto data firm Nansen. Avalanche's C-Chain, the project's default smart contract blockchain, saw between 200,000-550,000 daily transactions throughout the second quarter.

In this report we offer an overview on the dynamic space of tokenizing ‘real-world' valuables (or off-chain assets, ‘OCAs'), exploring advantages and obstacles, while delving into innovative projects and protocols in this field.

Although Avalanche saw a significant surge on the social front, its price told a different story. Additionally, a decline in the daily transactions and active addresses added to the misery of troubled AVAX investors.

Shibburn wallet tracker has reported that since last morning a better than nothing progress in SHIB burns has been achieved as the burn rate of this popular meme coin has gone up by a couple of hundred percent.

Competition among blockchains to grab some of the RWA market, new lending pool from Credix that supports Colombian farmer, the first-ever tokenization under Spain's new laws, how the U.K's regulations may lead to the country becoming a tokenization hub, and more for the week ending July 27, 2023.

On July 25, the Avalanche Foundation made a bold move by unveiling Avalanche Vista, a powerful $50 million tokenization initiative. This step aligns with the growing trend of asset tokenization, which is revolutionizing the world of blockchain technology.