On March 4th at midnight GMT, AVAX unlocked the last portion of its Option A2 public sale, adding 9m AVAX. All Option A2 tokens are sold at $0.5 per token.
In the hours following the addition, AVAX dropped to about $75, then rebounded and reached $80 again. The day before, over $500m was bridged into AVAX from Ethereum, suggesting that investors had foreseen the dip.
Both A1 and A2 launched in September 2020. Subsequent portions were released every 3 months, but while A1 had a vesting period of 1 year, A2 extended it by 6 months. Public sale is set to amount to 10% of global AVAX token distribution.
The final unlocking of Option A2 comes as the team at Avalanche prepares for Avalanche Summit, which starts on March 22nd in Barcelona, Spain.