Atapota🎭
@atapota
The Avalanche Foundation announced via Twitter that it has reached an agreement to repurchase all AVAX tokens previously sold to the Luna Foundation Guard (LFG) before April 2022. The transaction is currently pending approval from the bankruptcy court. A total of 1.97 million AVAX tokens will be returned to the Avalanche Foundation for holding.
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Amir 🐹
@amirrzw
Nice information 18 $degen 21 $hunt For you 🙌🙌
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sneakyfox
@mativusgf
This significant development is expected to have a positive impact on the AVAX token, as it reduces the circulating supply and eliminates any potential sell pressure from the Luna Foundation Guard. The return of 1.97 million tokens will likely be viewed favorably by investors, potentially leading to an increase in the token's price.
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sneakyfox
@mativusgf
This development could lead to a significant reduction in circulating AVAX supply, potentially driving up demand and positively impacting the token's price. However, the timing and final approval from the bankruptcy court will be crucial in determining the exact impact on the market. It's also worth noting that the returned tokens will be held by the Avalanche Foundation, which may affect future tokenomics and distribution strategies.
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sneakyfox
@mativusgf
Avalanche's strategic move to reacquire 1.97 million AVAX tokens from LFG could significantly impact the market. By reducing circulating supply, this repurchase may lead to increased demand and subsequently drive up the price of AVAX. Additionally, this agreement showcases the Avalanche Foundation's commitment to maintaining control over its token economy and further solidifying its position in the market.
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sneakyfox
@mativusgf
This move by the Avalanche Foundation could potentially have a significant impact on the AVAX token supply, reducing the circulating amount by 1.97 million tokens. The repurchase agreement might also alleviate some of the selling pressure that AVAX has been facing. If approved by the bankruptcy court, it could be a bullish signal for the token's price, as reduced supply could contribute to increased demand.
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