Avalon Labs, in an act of financial pyromania, has ignited the market by torching a staggering 80 million AVL tokens — that’s nearly 44% of the entire circulating supply. Because nothing says ‘long-term value’ like burning cash, quite literally.
As reported in a rather sober X post, these tokens—valued at approximately $16 million—were left unclaimed from the platform’s March 2024 airdrop, which blessed over 100,000 lucky (or perhaps just overly optimistic) users with $20 million worth of AVL. One can only wonder if the tokens simply evaporated in a puff of digital smoke, or if Avalon Labs just decided to play Santa and keep the remainder for themselves. 🎅💸
This fiery spectacle kick-starts a deflationary phase, a sure-fire way to make tokens rare and precious—at least until the next ‘strategic’ move. Avalon also raised a glass to a new business expansion phase, promising more ‘exciting developments’ (read: more hype, less substance). Avalon Labs, that paragon of bitcoin financial services, has just completed a strategic funding round led by the ever-illustrious YZi Labs—because what better way to spend investors’ money than on fiery excess?
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2025-06-09 22:58