Avalon Finance Burns 44% of Tokens, AVL Price Soars

The Bitcoin-based CeDeFi platform, Avalon Finance, has made a significant move by burning over 80 million tokens, equivalent to approximately 44% of its circulating supply. This action has sparked interest in the AVL token, driving a notable price surge. The burning event took place on June 9th and removed unclaimed airdrop tokens worth roughly $16 million from circulation. Avalon Labs stated that these tokens are now permanently removed from the market.