Avalanche Foundation Rebuys 1.97M AVAX Tokens at 42% OFF

The Avalanche Foundation is buying back 1.97 million AVAX tokens that were sold to Terra’s Luna Foundation Guard (LFG) in 2022. At that time, the AVAX tokens were worth $100 million. Now, the foundation is buying them back for $45.5 million.

Why Is Avalanche Buying Back AVAX Tokens?

In 2022, Terraform Labs was hit hard when the Terra blockchain collapsed, causing major losses across the crypto world. LFG bought the AVAX tokens as reserves for their algorithmic stablecoin, USTC, but soon after, the value of USTC dropped to $0.006 when it lost its peg to the U.S. dollar.

What Does This Mean for Avalanche and AVAX Prices?

Avalanche’s repurchase at $45.5 million, when the tokens are currently worth $57.4 million on the open market, allows the foundation to save nearly $12 million. This could be a positive move for AVAX, as it shows the foundation is committed to its long-term development, even amidst market uncertainty.

LFG’s bankruptcy and the buyback agreement were approved by a court, but some concerns remain. Terraform Labs has already seen a loss of nearly $60 billion from the collapse of LUNC and USTC. As the market watches closely, the AVAX token price could see some fluctuations, but the long-term outlook seems to show renewed confidence in the Avalanche blockchain.

Minotaurus ($MTAUR): A Bright Spot for AVAX Holders?

The Minotaurus ($MTAUR) presale is in full swing, having already amassed over $100K. The $MTAUR tokens are still available at $0.00005964—a massive 70% lower than the listing price. You still have a chance to get in early and witness an up to ~236% uptick post-listing. 

Conclusion

Those who want to turbocharge their holdings are exploring high-upside alternatives like Minotaurus ($MTAUR). With a low entry price, tempting incentives for holders, and an exciting giveaway, this could be an opportunity you’ll want to grab. Don’t wait—be among the first to jump in!