Why Avalanche’s Smart Move Could Send AVAX to $50 Soon!
The post Why Avalanche’s Smart Move Could Send AVAX to $50 Soon! appeared first on Coinpedia Fintech News
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.
Smart Move with Luna Foundation Guard (LFG)Back in April 2022, Avalanche sold a large number of AVAX tokens to the Luna Foundation Guard (LFG). Now, they want those tokens back. The move is not final yet, as it needs the approval of the bankruptcy court. But that hasn’t stopped investors from jumping in. Avalanche Foundation shared this news from its official X handle.
The Avalanche Foundation has negotiated an agreement to repurchase all AVAX tokens previously sold to the Luna Foundation Guard (LFG) in April 2022, which is now awaiting approval from the Bankruptcy Court.
This action ensures that LFG would not violate the original…
