AVL (Avalon Labs) has pumped 53.03% in the last 24 hours.

Gate News Bot news, on September 30th, according to CoinMarketCap data, AVL (Avalon Labs) is currently priced at 0.24 USD, with a pump of 53.03% in the last 24 hours, reaching a high of 0.24 USD and a low of 0.14 USD. The current market capitalization is approximately 38.1 million USD, an increase of 13.2 million USD compared to yesterday.

Avalon Labs is a CeDeFi lending platform focused on the capital markets of the Bitcoin chain. Its core product, USDa, provides instant liquidity and fixed lending rates for Bitcoin holders. Users can unlock the full potential of Bitcoin through USDa, gaining liquidity and sustainable DeFi yields while retaining ownership of their assets. Avalon also offers diversified products such as USDaLend and DeFi lending, creating additional earning opportunities for Bitcoin derivatives.

Important recent news about AVL:

1️⃣ Large-scale token burn plan launched Avalon Labs recently executed a significant token burn operation, destroying a total of 93.9 million AVL tokens. This move is part of its buyback and burn plan, aimed at reducing the number of tokens in circulation, potentially increasing the scarcity and value of the remaining tokens.

2️⃣ Deflation phase officially begins By burning 80 million AVL tokens, Avalon Labs officially announces its entry into the deflationary phase. This strategic move is expected to have a positive impact on the supply and demand relationship of AVL tokens and may be one of the important driving factors for the recent price rise.

3️⃣ The market responds positively to deflationary policies The significant rise of the AVL token in the past 24 hours is likely related to the market's positive reaction to its deflationary policy. Investors seem optimistic about this measure to reduce the token supply, believing it may help enhance the long-term value of AVL.

From a technical perspective, AVL's price has broken through previous resistance levels, showing strong upward momentum. However, investors should remain cautious of potential pullback risks, especially after such a sharp short-term rise.

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