Right, so picture this: Avalon Labs, aka the Bitcoin-loving wizards of on-chain capital markets, just burned $1.88 million worth of AVL tokens. Yes, *burned*. As in, sent them to token heaven (or a dead wallet, depending on your level of cynicism). And guess what? The price jumped 11%. Because nothing says “cha-ching” like setting money on fire. 🔥💰
This whole saga began back in June 2025 when Avalon casually deposited 1.88 million USDT into Bybit (because why not?). They repurchased 13.95 million AVL tokens at an average of $0.1347 per coin and then-wait for it-permanently burned them. Poof! Gone. Like that leftover pizza you swore you’d eat tomorrow but somehow vanished overnight. 🍕✨
“We’re thrilled to announce the successful completion of a $1.88 million AVL token buyback and burn, reinforcing our long-term commitment to creating sustainable value for our community and ecosystem.”
– Avalon Labs (@avalonfinance_) September 10, 2025
According to BscScan (the nosy neighbor of blockchain), Avalon Labs did indeed send those tokens to the dead wallet in one tidy transaction on September 10. No drama, no fuss-just cold, hard token murder. Or should I say… token *murder-suicide*? 😅💀
Now here’s the kicker: this whole charade was funded by Avalon’s monthly protocol revenue. That’s right-they’re burning tokens with their own profits, presumably while sipping margaritas on a yacht somewhere. 🛥️🍹 Lowering supply = higher value for holders. Genius, really. It’s like Marie Kondo-ing their tokenomics: “Does this token spark joy? No? Burn it.” ✨🔥
Oh, and let’s not forget-the big reveal. Since June 2025, Avalon has burned a whopping 93.95 million AVL tokens. That’s about 37% of the total circulating supply. Thirty-seven percent! On June 9 alone, they torched over 80 million tokens, including a hefty pile of unclaimed airdrops. So if you were one of those people who missed claiming your free tokens, well, tough luck. They’ve been incinerated faster than your ex’s old photos after a breakup. 💔🔥
The team, ever the optimists, said something along the lines of, “We remain committed to building the leading on-chain capital market for Bitcoin blah blah blah.” Sure, sure, keep telling yourself that, Avalon. Meanwhile, the rest of us are over here Googling “how to invest in AVL” while clutching our piggy banks. 🐷📈
And lo and behold, within 24 hours of the announcement, AVL surged nearly 11%, hitting around $0.1479. Market cap? A cool $23.9 million, according to CoinMarketCap. So basically, Avalon Labs just proved that sometimes, destruction *is* the best form of creation. Who knew? 🤷♀️💥
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2025-09-10 11:08