AVL (Avalon Labs) rose 22.31% in the last 24 hours.

Gate News Bot news, on September 16, according to CoinMarketCap data, AVL (Avalon Labs) is currently priced at 0.21 USD, with a rise of 22.31% in the last 24 hours, reaching a high of 0.22 USD and a low of 0.13 USD. The current market capitalization is approximately 33.37 million USD, an increase of 6.14 million USD compared to yesterday.

Avalon Labs is a project that builds on-chain capital markets for Bitcoin. Its core product, USDa, is a CeDeFi lending platform that provides instant liquidity and fixed borrowing rates for Bitcoin holders. Users can unlock the full potential of Bitcoin through USDa, gaining instant liquidity and sustainable DeFi yields while retaining ownership of their assets. Avalon Labs also offers products like USDaLend and DeFi lending, aimed at creating additional earning opportunities for Bitcoin holders.

Important recent news about AVL:

1️⃣ Large-scale Token Burn Plan Execution Avalon Labs recently executed a significant token burn plan, destroying a total of 93.9 million AVL tokens. This move is part of its buyback and burn program, aimed at reducing the circulating supply, which may have a positive impact on the token's value.

2️⃣ Continuous Token Burn In addition to the large-scale destruction, Avalon Labs also conducted a destruction of AVL tokens worth $1.88 million. This indicates that the project team is continuously implementing its deflationary policy, which may provide upward support for the price of AVL tokens.

3️⃣ Increase in market attention As the token burn plan progresses, the Avalon Labs project has gained more market attention. Multiple cryptocurrency data platforms and news media have started to track and report on the price dynamics and market performance of AVL, which may bring more potential investors and users to AVL.

From a technical perspective, the price of AVL tokens has seen a significant rise in the past 24 hours, which may be directly related to the recent token burn event. Token burns are typically viewed as a positive factor, helping to boost investor confidence and drive short-term price increases.

This message does not constitute investment advice, and investors should be aware of market volatility risks.