Tag: avalanche

November To Witness Over $450M In Token Unlocks: Aptos And Avalanche Take The Lead

The crypto market is set to experience significant token unlocks in November, with projects such as Aptos (APT), Avalanche (AVAX), and Hashflow (HFT) leading the way.

These unlocks are anticipated to release more than $320 million worth of tokens, contributing to the overall $450 million set to enter circulating supplies in the crypto market this month.

It is worth noting that such substantial releases could have immediate and long-term effects on both the price and availability of these digital assets.

Aptos And Top Players In November’s Token Release

Token unlocks are events where previously locked tokens become available for trading, often increasing a project’s circulating supply. These events are critical moments for projects, as they can signal maturation and a new phase of market dynamics.

Aptos, a Layer 1 blockchain created by former Meta executives, is expected to have the most significant token unlock by value, releasing 24.8 million APT tokens, currently representing about $165.6 million at today’s price.

Aptos’s upcoming unlock on November 12 is not just substantial in value but also notable for its distribution, with core contributors, investors, the community, and the Aptos Foundation all set to receive portions of the release.

Meanwhile, Avalanche, another Layer 1 blockchain, is preparing for its considerable token unlock later in the month on November 24, which will see 9.54 million AVAX tokens (valued at approximately $99.3 million at today’s price) released, marking 2.7% of its circulating supply.

Hashflow, a multi-chain decentralized exchange, is slated to have the largest token release by circulating supply percentage. It is poised to unlock 160.38 million HFT tokens, approximately 73.9% of its circulating supply, on November 7, injecting roughly $42 million into the market.

The distribution of these tokens will span early investors, ecosystem development, the core team, and community rewards, adding another layer to the economic activities of the project.

Other Notable November Token Unlocks

Other projects like Optimism (OP), ApeCoin (APE), and Sui (SUI) are also scheduled for significant token unlocks this November. However, they pale in comparison to the top three in terms of value. Optimism is set to unlock 24.16 million OP tokens worth $32.4 million.

Apecoin (APE) is poised for an unlock of 15.60 million APE tokens worth $19.5 million, and SUI is to unlock 34.62 million tokens valued at $14.6 million at today’s market prices.

Each unlock carries potential implications for the broader crypto market, as they may affect liquidity, trading volume, and investor sentiment. Furthermore, out of these six tokens above set to unlock this month, Aptos and Avalanche are the top gainers.

Aptos (APT) price is moving sideways on the 4-hour chart. Source: APT/USDT on TradingView.com

Currently, both assets are up 38% and 22%, respectively, in the past 14 days. APT trades at $6.82, down by 2% over the past 24 hours, while AVAX trades at $11.02, down by 2.7% over the same period, at the time of writing.

Featured image from Unspkash, Chart from TradingView

Samuel Edyme

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November 1, 2023
Avalanche Is Sunsetting SnowTrace: Big Upgrade For Developers?

Avalanche, a platform claiming to have solved the blockchain trilemma of scalability, security, and decentralization, is retiring SnowTrace, a Contract Chain (C-Chain) explorer run by Etherscan, by the end of November. According to Emin Gun Sirer, the founder of Ava Labs, the team developing Avalanche, the new explorer, will be developed in-house and boast more capabilities, potentially enhancing user experience.

Avalanche Phasing Out SnowTrace

The transition set for roughly within a month means the current SnowTrace website will instead be re-routed to a new website. Therein, users seeking to explore the entire Avalanche blockchain, including the three chains, will be free to do so.

With the team retiring the Etherscan-led SnowTrace for their version, Avalanche assured users that operations will remain as it is. Notably, the team said there would be no service disruption; instead, only the back end would be switched. What’s extended is that all Avalanche users will not only search the C-Chain but are free to explore all the sub-nets.

SnowTrace was only used to search the C-Chain, a wing of Avalanche compatible with the Ethereum Virtual Machine (EVM). Out of the C-Chain, users are free to deploy protocols compatible with Ethereum. By transitioning to a new explorer, the developer team hopes to once and for all remove the limitations of the SnowTrace explorer.

Since the platform can scale horizontally, the network relies on subnets. A subnet is a customized blockchain that serves the needs of a specific decentralized application (dapp), such as those of businesses or even high-intensive gaming or social media platforms. They are autonomous, meaning while the mainnet secures them, operators can establish their rules, issue their tokens, and even have unique validator requirements.

All subnet operators must stake AVAX to launch. The amount of AVAX staked varies depending on the specifications of each chain. Every subnet is independent and linked to the mainnet via the Platform Chain (P-Chain), which runs validator registration and consensus.

Announcement Came Too Soon? AVAX Up 30% From Q4 Lows

While the team said the move is expected to be smooth, one developer and founder complained on X that the one-month notice period is short. Instead, Ava Labs should have announced the transition months in advance for businesses and developers reliant on SnowTrace for on-chain data to prepare before the explorer is phased out.

Related Reading: VanEck Goes Back To The Drawing Board: Unveils Revised Spot Bitcoin ETF Filing

Avalanche price on October 30| Source: AVAXUSDT on Binance, TradingView

AVAX prices remain steady at spot rates, edging higher. As of writing, the coin is trading at around October highs, adding roughly 30% from Q4 2023 lows.

Feature image from Canva, chart from TradingView

Dalmas Ngetich

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October 30, 2023
Around 100 Devs At Just Cause Studio Are Unionizing

Image: Avalanche Studios Group

Around 100 employees at Just Cause developer Avalanche Studios Group are unionizing. This means around a fifth of the 500-person Swedish team is now bargaining with the company’s management for a fair contract.

The Week In Games: What’s Releasing Beyond Pikmin 4

IGN confirmed with a union representative that more than 100 workers have joined Unionen, a Swedish trade union. According to their statement, Avalanche Studios Group workers have been working toward joining a union since earlier this year, when members formed a local union board to bargain with the studio’s management over specific benefits, but the rep didn’t share specific issues. According to IGN’s sources, moving to a four-day work week is at least one issue the team has raised in its negotiations.

While one in five workers joining the union might seem small, Swedish union membership is different than what we typically know of unions in the USA, as workers can join a trade union without a union election. This means that around “70 percent of the country” is part of a union, according to data shared with IGN by Unionen.

Avalanche Studios Group provided the following comment to IGN regarding the situation:

As an employer, we’re committed to creating the best possible conditions for all Avalanchers to thrive. We support and welcome any initiative that goes in this direction. This also means that we listen, invite dialogue, and encourage people to bring forward their perspectives and needs. After all, it’s thanks to each and every Avalancher that we’re able to make the great games we’re known for.

This comes less than a year after a public dispute between Avalanche’s workers and management, which lead to a public apology from the company, which reportedly encountered internal pushback regarding its HR department’s lack of communication and follow-through on worker concerns.

Beyond Just Cause, Avalanche Studios Group is currently working on Contraband in partnership with Xbox Game Studios, meaning the open-world co-op game will be exclusive to Xbox and Windows.

Kenneth Shepard

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October 6, 2023
Avalanche of rocks near Dead Sea in Israel kills 5-year-old boy and traps many others

An avalanche of rocks tumbled down a hillside onto a hiking trail near the Dead Sea in Israel on Thursday, trapping many people, killing a 5-year-old boy and injuring at least six others, medics said.

The volunteer emergency medical service United Hatzalah said rescue teams recovered numerous people who were trapped under the rubble. Israeli military helicopters airlifted the victims to nearby hospitals.

Israel’s Magen David Adom rescue service said the victims ranged from 4 to 40 years old, including the boy who was found unconscious with a severe stomach injury and could not be resuscitated. A 4-year-old girl was in moderate condition and others were less seriously injured.

“You could see rocks the size of cars falling down,” Yonatan Bar David, who was on the trail with his family, told Kan Radio, Reuters reported. He was not injured but two of his children suffered minor injuries, according to the news agency.

Medics said the situation was worsened by the fact that the site of the landslide was difficult to reach. Magen David Adom said rescuers had to park their ambulances by the river and carry medical equipment by foot to the scene of the incident, due to the complexity of the terrain. Rescuers walked for about 25 minutes before discovering a number of injured people.

A warning sign at a waterfall near the site of a rockslide that took place in the Ein Gedi Nature Reserve, on the western shore of the Dead Sea, on Thursday, Aug. 24, 2023.

Ohad Zwigenberg / AP

The rockslide took place in the Ein Gedi Nature Reserve on the western shore of the Dead Sea, a popular tourist site.

It was not immediately clear what caused the rockslide. They typically occur when torrential rains or earthquakes create fissures in a rocky hillside.

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August 24, 2023
At least 4 hikers killed in avalanche in French Alps

At least 4 killed in avalanche in French Alps

At least 4 hikers killed in avalanche in French Alps

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An avalanche on Sunday near Mont Blanc in southeastern France swept four people to their deaths and left two more missing, the officials said. France’s interior minister called the death toll a provisional count, according to The Associated Press.

Among the dead were two mountain guides caught by the snow tumbling down the Armancette glacier, the prefecture for the Haute-Savoie department said.

Investigators had been called in help with the search for the two persons still unaccounted for in the Alps.

One person also suffered slight injuries in the avalanche while eight others also swept up were unharmed, the prefecture said.

The avalanche rolled down the Armancette glacier in Contamines-Montjoie, in the Haute-Savoie region, some 30 kilometers (almost 20 miles) southwest of Chamonix, AP reported. The avalanche covered an area of 1,000 meters by 500 meters.

No avalanche warning had been issued for the region by weather authority Meteo France, but a combination of warmth and wind may have been behind the disaster, the prefecture added.

“We’re thinking of (the victims) as well as of their families,” President Emmanuel Macron wrote on Twitter.

“Our emergency services have been mobilized to find those still trapped in the snow.”

Emergency responders had deployed a helicopter as well as mountain rescue dogs to the scene, although the prefecture warned a further avalanche could not be ruled out.

The operation was suspended in the evening, but will resume at 7:00 a.m. local time Monday.

“I think it’s the most deadly avalanche this season,” Contamines-Montjoie mayor Francois Barbier told AFP.

Two brothers died in an avalanche on the same glacier in 2014, both experienced climbers in their 20s.

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April 9, 2023
At least 4 hikers killed in avalanche in French Alps

At least 4 hikers killed in avalanche in French Alps – CBS News

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At least four hikers were killed in an avalanche in the French Alps. Dozens more were injured.

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April 9, 2023
Winter storm brings heavy snow, ice to western U.S.

Winter storm brings heavy snow, ice to western U.S. – CBS News

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The western U.S. continued to contend with a powerful winter storm Friday that even prompted unprecedented blizzard warnings in Southern California. Parts of Nevada are under avalanche warnings and many major highways are closed. CBS News correspondent Carter Evans reports from Southern California.

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February 24, 2023
Hogwarts Legacy | Xbox

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Hogwarts Legacy is an immersive, open-world action RPG set in the world first introduced in the Harry Potter books. Embark on a journey through familiar and new locations as you explore and discover fantastic beasts, customize your character and craft potions, master spell casting, upgrade talents and become the wizard you want to be.

Experience Hogwarts in the 1800s. Your character is a student who holds the key to an ancient secret that threatens to tear the wizarding world apart. Discover the feeling of living at Hogwarts as you make allies, battle Dark wizards, and ultimately decide the fate of the wizarding world. Your legacy is what you make of it. Live the Unwritten.

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February 10, 2023
Death toll from avalanche in Indian Himalayas rises to 19

At least 19 people are confirmed dead after an avalanche struck climbers in the Indian Himalayas, authorities said Friday, with bad weather hampering the fourth day of search and rescue efforts.

A group of climbing trainees and instructors were caught in Tuesday’s massive snowslide near the summit of Mount Draupadi ka Danda II in the northern state of Uttarakhand.

“Nineteen bodies have been recovered. 10 people are still missing,” state disaster agency spokesperson Ridhim Aggarwal told AFP.

“Rescue operations have resumed for the day but are subject to weather,” she added. “The weather is bad.”

Police, disaster authorities and the Indian air force were mobilized to help with search efforts, with 32 people successfully rescued from the mountain despite snow and rainfall.

An advance helicopter landing ground had been prepared near the site of the avalanche at 16,000 feet above sea level, the Indo-Tibetan Border Police said Thursday.

Indo-Tibetan Border Police (ITBP) personnel stand in position during preparations for a rescue operation for missing climbers struck by an avalanche, at the ITBP Matli helipad station on October 5, 2022.

Indo-Tibetan Border Police /AFP via Getty Images

Sunil Lalwani, one of the rescued trainee climbers, credited the instructors for saving many lives.

“We were 50-100 meters from the summit with our instructors ahead of us, when suddenly an avalanche hit us and took everyone down,” Lalwani was quoted as saying by the Hindustan Times on Thursday.

“It happened in a matter of seconds and we were dumped in a crevasse. We were somehow able to breathe. … It’s because of them that we are alive today.”

Among the bodies recovered earlier in the week was that of climber Savita Kanswal, who had summited Everest this year.

Kanswal was an instructor with the expedition and had been feted by the climbing community for summiting the world’s highest peak and nearby Makalu in just 16 days — a women’s record.

Evacuees (left) rest after receiving first aid at the ITBP Matli helipad station on October 5, 2022, after being airlifted during a rescue operation for missing climbers struck by an avalanche in the northern state of Uttarakhand.

Indo-Tibetan Border Police / AFP via Getty Images

Fatal climbing accidents are common in the Himalayas, home to Everest and several of the world’s highest peaks.

In August, the body of a mountaineer was recovered two months after he fell into a crevasse while crossing a glacier in the northern state of Himachal Pradesh.

Last week, renowned US ski mountaineer Hilaree Nelson’s body was found on the slopes of Nepal’s Manaslu peak after she went missing skiing down the world’s eighth-highest mountain.

The same day, Nepali climber Anup Rai was killed and a dozen others were injured after an avalanche on the 26,781-foot mountain.

Although no substantial research has been done on the impact of climate change on mountaineering risks in the Himalayas, climbers have reported crevasses widening, running water on previously snowy slopes and the increasing formation of glacial lakes.

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October 7, 2022