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Terra Luna Classic price has been trending upward since July, making higher highs except for the unexpected market-wide August 5 crash. However, following the development of the Terraform Labs (TFL) case and the subsequent liquidation of the company, Avalanche is seeking to buy back all the $60 million AVAX tokens that the Luna Foundation Guard
With Bitcoin price consolidating, the altcoin market has picked up momentum. Moreover, top altcoins have recorded a significant uptrend in their respective portfolios within a short period. One such token is Avalanche (AVAX) with a jump of 16.
Avalanche (AVAX) has shown strong performance amid a broader crypto market downturn, with analysts predicting potential further gains based on technical indicators and recent price action.
Avalanche Foundation is planning to buy back 1.97 million AVAX tokens which was previously sold to Luna Foundation Guard (LFG) in early 2022.
Avalanche appears to have broken out of a multi-month falling wedge, leading to bullish price predictions by a crypto analyst.
This decision comes after Terra's downfall when the value of the tokens dramatically dropped. Let's break down what happened.
The Avalanche network is in the spotlight amid price rallies and proposed AVAX repurchase.
The Avalanche Foundation is set to buy back nearly 2 million AVAX tokens sold to Terra just before its collapse in 2022. This transaction, which awaits approval from a bankruptcy court, marks a new chapter in the tumultuous history of the crypto market.
Amid the ongoing crypto rebound fueled by the October rising narrative, Avalanche (AVAX) price has been gaining bullish momentum in the recent past. The large-cap altcoin, with a fully diluted valuation of about $13.1 billion and a daily average traded volume of around $415 million, is currently retesting a crucial support/resistance level of around $30.
The Avalanche Foundation is set to repurchase 1.97 million Avalanche (AVAX) tokens that were sold to the Luna Foundation Guard (LFG) in April 2022, just one month before the Terra blockchain ecosystem collapsed.
In 2022, the Avalanche Foundation sold 1.97 million AVAX worth $100 million at the time to Terra's foundation before its collapse. It's now buying it all back for $45.5 million.
The price of Avalanche's token has risen over 13% in the last few days following the announcement and the growing popularity of a new crypto game.
The recently launched battle royale ‘Off The Grid' succeeded in the mainstream gaming scene, featured as the most popular free-to-play game in the Epic Games Store. While offering a unique and fun free-to-play experience that attracted many players, Off The Grid is built on Avalanche (AVAX).
Avalanche Foundation has agreed with Luna Foundation Guard (LFG) to buy back all AVAX tokens it sold to LFG in April 2022 as part of the cooperation efforts between the two projects and to improve the foundation's liquidity. According to the post on X, the repurchase plan is now awaiting court approval.
The gaming world has been buzzing about Off the Grid, a new battle royale shooter that has rapidly gained popularity.
The Web3 industry has yet to fully enter the mainstream, according to John Nahas, chief business officer (CBO) of Ava Labs. He argues that general-purpose Layer 1 blockchains, whose primary focus is marketing their tokens, dominate the space and lack sufficient innovation. This, Nahas contends, hinders the industry's full potential.
Avalanche (AVAX) has regained traction, showing signs of a potential bullish resurgence as it approaches a key resistance level at $29.35. After a period of consolidation, AVAX's price action hints at a possible breakout, which could trigger a strong upward movement.
A repurchase plan has been announced, and the market is happy about it!
Avalanche Foundation repurchases 1.97M AVAX tokens from Luna. The move protects the tokens from liquidation during LFG's bankruptcy.
AVAX is accumulating bullish momentum, supported by rising on-chain metrics.
A big decision by Avalanche Foundation has sparked this rise and the price of AVAX has surged by 10%. Investors are jumping in and keeping a close watch. So, what happened? Let's break it down.
The AVAX price has surged by a staggering 10% in the last few hours after the recent announcement by the Avalanche Foundation of a repurchase agreement with the Luna Foundation Guard (LFG) – the entity associated with Terra blockchain – to buy back all tokens sold back in 2022. This has pushed AVAX closer to
Bitcoin and altcoins made a strong comeback on Oct. 11, indicating solid buying at lower levels.
A widely followed analyst and trader says that an exponential rally for one of Ethereum's (ETH) biggest rivals could be around the corner.
