The price of the Avalon (AVL) token surged by more than 20% within 24 hours, reaching a peak of $0.23, following the announcement of a significant burn of 80 million AVL tokens on June 9, 2025. Speculators are now optimistic that the price could exceed $0.30, aiming for recent highs as market trends shift in favor of AVL.
Avalon Labs Announces Burn of 44% of Circulating Supply
In a significant move after a highly publicized investment from YZi Labs, Avalon Labs has taken another major step toward strengthening its native token. On June 9, 2025, the project focused on Bitcoin-backed decentralized finance announced the burn of 80 million AVL tokens.
According to the Avalon Labs team, the tokens burned primarily originated from unclaimed portions of their airdrop distribution in March 2024. At that time, over $20 million worth of AVL was allocated to community wallets, and now 80 million tokens have been permanently removed from circulation.
These burned tokens account for approximately 44% of Avalon’s circulating supply. The official statement from Avalon Labs confirmed the substantial impact of the burn on AVL’s market activity.
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.
— Avalon Labs 🎩🔮 (@avalonfinance_) June 9, 2025
The token burn from Avalon Labs has injected notable bullish sentiment into the AVL market, as traders once again test levels observed in early May. This recent price spike follows another rise after YZi Labs announced a strategic investment in the project.
Additionally, buying pressure has increased earlier in the year following the listing of AVL on Binance Alpha.
Can AVL Reach $1?
AVL’s price action is currently sending bullish signals, as the token trades around $0.20. Recently, the price of Avalon Labs surpassed an ascending triangle, extending its gains after a significant dip. Buyers are increasingly hopeful that a breakout could push the price up to $0.23.
In mid-May, the Avalon price struggled against bullish advances near $0.31, and by the end of May, the buying momentum subsided post-breakout from a channel around $0.27. These levels indicate key horizontal resistance zones, where bulls could aim for $0.44, although there is a significant supply ceiling near $0.75.
Should selling pressure escalate amid profit-taking and weakness in altcoins, a retracement to $0.18 and $0.13 may be possible. From a technical perspective, both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are displaying early signs of bullish divergence, indicating growing momentum. However, traders should monitor sustained volume and price stability above the breakout level for confirmation of the trend.
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