Avalon Labs, a Bitcoin-focused on-chain capital market, has carried out a $1.88 million buyback and burn of AVL tokens. Following this move, the AVL token surged by nearly 11% as the development drew strong interest from the crypto community.
The program started in June 2025, when Avalon Labs deposited 1.88 million USDT into Bybit. The company repurchased 13.95 million AVL tokens at an average of $0.1347 per coin, and burned permanently.
BscScan record indicates that Avalon Labs carried out a successful burn of these AVL tokens, transferring them to the dead wallet as one single transaction on September 10.
This is a unique initiative as it was fully supported by Avalon’s monthly protocol revenue. By lowering the token supply, the firm is aiming to create greater value for its holders. At the same time, it seeks to align platform development with the interests of the community.
Since June 2025, Avalon Labs has burned a total of 93.95 million AVL tokens, which is roughly 37% of the total circulating supply. Importantly, on June 9, the firm burned more than 80 million AVL tokens, among them a significant chunk of unclaimed airdropped tokens.
The team says, “We remain committed to advancing our mission of building the leading on-chain capital market for Bitcoin, and will continue to explore sustainable mechanisms to strengthen the Avalon ecosystem.”
Following the announcement, the AVL token rose nearly 11% in the past 24 hours to around $0.1479, with its market capitalization climbing to about $23.9 million, according to CoinMarketCap.
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