Avalon Labs burned 80 million $AVL tokens, which is 44% of the current circulation. The total value of the destroyed assets is estimated at $16 million. Thus, the project launched a deflationary cycle and moved to the next stage, business expansion. Against the background of the news, the price of the token showed a short-term growth.
Massive Token Burn and Transition to a New Phase
Avalon Labs has conducted a significant burn of 80 million unused $AVL tokens, previously allocated for an airdrop. The total value of the destroyed assets is estimated at $16 million. According to the project, over the past year, 100,000 users received $AVL worth $20 million. The remaining unclaimed tokens have now been permanently removed from circulation. Project representatives stated that this marks the beginning of a new phase — scaling and business expansion.
The token burn is confirmed on the Ethereum network at: etherscan.io/tx/0x916251...70f16.
Market Reaction
Immediately after the announcement, $AVL entered the top ranks by trading volume on Bybit, both in spot and futures markets. The token’s price saw a short-term increase of 20%, reaching $0.2097. However, this was not enough to offset the long-term decline. Over the past 30 days, $AVL has dropped by 24%, and its annual performance shows a decrease of nearly 77%.
