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AVAX Price Shoots 10% As Avalanche Foundation Announces Token Repurchase from Luna

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60% Informative

The AVAX price has surged by a staggering 10% in the last few hours after the recent announcement by the Avalanche Foundation of a repurchase agreement with Luna Foundation Guard ( LFG ) the entity associated with Terra blockchain to buy back all tokens sold back in 2022 .

This move aims to prevent LFG from violating the original agreement and protect the tokens from bankruptcy complexities.

At press time, the Avalanche price is up 9.33% trading at $ 28.49 .