10 Altcoins to Unlock This Week: Here are the Dates and What They Will Be!

According to Token Unlocks data, a significant number of locked tokens will be released in various altcoins this week. With nearly $20 million worth of locked tokens scheduled to be released between June 5 and June 11, market participants are anticipating potential impacts on the cryptocurrency world. Here are the details…

What is the importance of Unlock in the cryptocurrency space?

cryptocoin.com As we have also reported, token unlocking refers to the process by which previously restricted or locked tokens in cryptocurrency projects become available for trading or transfer. During lockdown periods, tokens are held by project teams or early investors to avoid instant selling. Once the lockdown period expires, the tokens are “unlocked” and can be freely traded or transferred. Unlocking tokens risks creating selling pressure. This points to the risk of affecting the token price and market sentiment. In other words, these developments can affect the market.

Unlock process begins for these altcoin projects

Market participants closely monitor token unlock events to gauge their potential impact on cryptocurrency values ​​and market dynamics. The following altcoins and related token amounts are expected to be unlocked:

  • Galx (GAL): At 3 p.m. today, approximately 416,000 GAL tokens worth $550k will enter the market, accounting for 0.2 percent of the total supply.
  • Tornado Cash (TORN): At 6:30 am on June 6, 175 thousand TORN tokens worth $683,000 will be unlocked, representing 1.75 percent of the total supply.
  • dYdX (DYDX): A major release of 6.5 million DYDX tokens worth $14 million is scheduled for 6 p.m. on June 6, accounting for 0.65 percent of the total supply.
  • Hashflow (HFT): At 03:00 on June 7, 3.2 million HFT tokens worth $1.5 million will be unlocked, representing 0.32 percent of the total supply.
  • Euler (EUL): At 20:12 on June 7, 143k EUL tokens worth $273k will be released, accounting for 0.52 percent of the total supply.
  • Hop Protocol (HOP): At 09:30 on June 9, a substantial launch of 20 million HOP tokens worth $1.5 million is expected, accounting for 2 percent of the total supply. Despite the project’s lower value compared to dYdX, it is estimated that releasing 2 percent of its supply will have a more significant impact on its price.
  • Moonbeam (GLMR): At 03:00 on June 10, 3 million GLMR tokens worth $850k will be unlocked, corresponding to 0.3 percent of the total supply.
  • 1inch(1INCH): At 11:00 am on June 10, 21 thousand 1INCH tokens worth $7,000 are scheduled to be released, representing 0.001 percent of the total supply.

In addition to the above tokens, Sweatcoin (SWEAT) will launch $21,000 worth of coins every day. On the other hand, GMX (GMX) will unlock 416 tokens worth $22,000 per day.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram And YouTube join our channel!

Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.

Show Disclaimer

source site-2