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Luna Foundation Guard Acquires 1.97 Million AVAX Tokens

Twitter icon  •  Published 3 years ago on May 20, 2022  •  Hassan Maishera

The Avalanche team announced via Twitter on Thursday that Luna Foundation Guard (LFG) purchased 1.97M AVAX to be used for the Terra reserve pool.

Luna Foundation Guard Acquires 1.97 Million AVAX Tokens

The Avalanche team announced via Twitter on Thursday that Luna Foundation Guard (LFG) purchased 1.97M AVAX to be used for the Terra reserve pool. The acquisition represents around 0.9% of the past week’s AVAX volume. The Avalanche team added that due to the proposed Terra chain fork, LFG has disclosed no plans to use the AVAX. 

Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up by more than 2% so far today and currently trades at $29.76 per coin.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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