Crypto Drama: Avalon Finance’s Token Burn Leaves Everyone Gasping! 😱🔥

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In a move that can only be described as a dramatic flair worthy of a soap opera, the Bitcoin-based CeDeFi platform, Avalon Finance, has decided to set fire to over 80 million tokens. Yes, you heard that right—44% of its circulating supply has gone up in smoke! And just like that, the price of the AVL token did a little jig, jumping by 16% as it caught the eye of the crypto community. Who knew burning money could be so profitable? 💸

Avalon Labs, in their infinite wisdom, revealed that a whopping $20 million worth of airdropped AVL tokens were claimed by more than 100,000 users over the past year. But wait, there’s more! The burning, which took place on June 9, specifically targeted those unclaimed tokens, which were worth about $16 million at the time. Talk about a dramatic exit! 🎭

Avalon Labs has officially burned 80M $AVL, representing 44% of the circulating supply.

These unclaimed airdrop tokens, worth approximately $16 million, have now been permanently removed from circulation. Over the past year, a total of $20M worth of $AVL has been claimed by…

— Avalon Labs 🎩🔮 (@avalonfinance_) June 9, 2025

Now, you might be wondering why on earth they would do such a thing. Well, token burning is a classic tactic in the crypto world to keep inflation in check. Once those tokens are burned, they’re gone for good—like your favorite pair of socks that mysteriously vanished in the laundry. 🧦

As of now, the AVL token is trading at around $0.2033—up 15.81% in the last 24 hours. It even flirted with a high of $0.2169, but let’s not forget it’s still down a staggering 85% from its all-time high of $1.44 back on February 14. Ouch! 💔

“As $AVL enters a deflationary cycle, more value will be unlocked, aligning long-term incentives and strengthening the foundation of our ecosystem,” said Avalon Labs. Well, that sounds lovely, doesn’t it? Let’s just hope they don’t burn the whole thing down in the process! 🔥

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2025-06-09 11:33