Cryptocurrency markets are constantly changing under the influence of various factors. One of these variations is token unlocking events. Made by Token Unlock to explain According to the data, a total of $248.19 million worth of token unlocking will take place in eight different altcoin projects between February 27 and March 1. Among these events, there are important projects such as Yield Guild Games (YGG), SingularityNET (AGIX), Sui, Optimism (OP), Prime, Manta Network, dYdX and ZetaChain, which are among the leading names in the cryptocurrency world.
The planned amounts of token unlocks vary between 0.35% and 5.57% of the circulating supply of the relevant altcoins. This could potentially cause a fluctuation in the prices of the relevant altcoins. In particular, token unlocking often increases selling pressure, which can lead to a decline in prices in the cryptocurrency market.
Investors and market watchers closely monitor such token unlocking events and evaluate the effects of the events on the prices of altcoins. While such events can present significant opportunities for investors looking to make short-term speculative transactions, they can provide important information for long-term investors to understand and evaluate broader trends in the market.
The important events on next week’s schedule are:
Yield Guild Games (YGG): 16.69 million YGG tokens worth $8.62 million will be unlocked on February 27, representing 5.57% of the circulating supply.
SingularityNET (AGIX): On February 28, 8.97 million AGIX worth $6.25 million will be unlocked, representing 0.71% of the circulating supply.
Sui: On February 29, 4 million SUIs worth $6.96 million will be unlocked (0.34% of circulating supply).
Optimism (OP): On February 29, 24.16 million OP worth $88.42 million will be unlocked (2.52% of circulating supply).
Echelon Prime (PRIME): On February 29, 1.66 million PRIMEs worth $20.56 million will be unlocked, accounting for 4.89% of the circulating supply.
Manta Network: Up to 1.87 million MANTAs worth $6.20 million will be unlocked on March 1 (0.74% of circulating supply).
dYdX: On March 1, 33.33 million DYDX worth $98 million will be unlocked (1.09% of circulating supply).
ZetaChain: On March 1, 5.29 million ZETAs worth $13.18 million will be unlocked (2.24% of circulating supply). Market Reaction to Unlocking Token
As we mentioned above, in the cryptocurrency market, unlocking tokens is considered an important event. These events can often have a bearish effect on prices. In particular, the release of more than 3% of the circulating supply of a project can cause a strong decline in the market and lead to price corrections.
For investors, such events are important. Therefore, investors should monitor these events closely. However, with the right strategies, there are opportunities to profit from such events.
Investors should be prepared for major events such as the release of token locks. In such cases, it is critical to anticipate market movements and develop appropriate strategies. For example, if an investor anticipates that a cryptocurrency will be unlocked, he or she may adjust his or her position to hedge against a price drop or consider it as a favorable buying opportunity.
As a result, events such as token lock releases play a significant role in the altcoin market and can impact prices. Investors should follow such events carefully and seize opportunities to benefit from these situations with the right strategies.
You can follow the current price movement here.
