Avalanche Releases Report on Luna Foundation Guard’s Avax Holdings

Report on Luna Foundation

Smart contract blockchain Avalanche has announced that Luna Foundation Guard has disclosed no plans for the 2 million AVAX tokens in its treasury, amid concerns about the impact.

The remarks, made through a tweet, add that the Avalanche foundation was ready to collaborate with the LFG for an ideal trading strategy in the sale of the reserves.

The market value of the AVAX tokens in question is $60 million, with the current price of AVAX tokens around $30 per token. The holding is the second largest reserve in the LFG’s $240 million treasury.

Avalanche says the announcement aims to inform the community, speculating on the fate of the AVAX reserves. The traders are inquiring about the possible impact that the sale of the tokens might have.

Avalanche Foundation received $100 million in LUNA from Terraform Labs and a similar amount in UST after acquiring $200 million in AVAX tokens.

Source: Twitter 

Leave a Reply

Your email address will not be published.

Related Posts