Cryptocurrency While the market is always changing and evolving, altcoin unlocks can cause significant changes in the supply and price of tokens.
Some Altcoins Will Have Major Token Unlocks In April
Token unlocks are when certain tokens that were previously locked for a certain period of time become available for trading.
- BitDAO (BIT): BitDAO is a decentralized autonomous organization that aims to promote and fund blockchain innovation. BIT holders can vote on suggestions and get rewards from BitDAO’s treasury. According to Token Unlocks, There will be a $98.2 million unlock in BIT token. This unlock, which corresponds to approximately 2% of the total supply, will take place on April 15 at 03:00 Turkish time.
- ApeCoin (APE): The APE token is used to access exclusive content, NFTs and games in the ApeCoin ecosystem. According to Token Unlocks, A portion of $62.6 million, corresponding to 1.6% of APE’s total supply, will be opened on April 17 at 03:00 Turkish time.
- Aptos (APT): According to Token Unlocks, $49 million worth of APT’s total supply, equivalent to 0.5%, will be unlocked on April 12 at 03:00 Turkish time.
- Ronin (RON): Ronin is best known as a sidechain network supporting Axie Infinity, a popular blockchain game where players can collect, breed and battle digital pets called Axies. According to Token Unlocks, $44.3 million worth of RON, 4.2% of the total supply, will be unlocked on April 27 at 03:00.
- Axie Infinity (AXS): It is the management token of Axie Infinity and also acts as a utility token for various features in the game. According to Token Unlocks, $32.3 million worth of AXS’s total supply, or 1.4% of the total supply, will be unlocked on April 17 at 03:00 Turkish time.
- Immutable X (IMX): Immutable X is known as a layer-2 scaling solution that enables NFT printing and trading on Ethereum without gas fees. According to Token Unlocks, The portion of IMX worth $19.2 million, equivalent to 0.9% of the total supply, will be opened on April 22 at 13:00 Turkish time.
- dYdX (DYDX): dYdX is recognized as a decentralized exchange offering margin trading, perpetual contracts and spot trading for a variety of crypto assets. According to Token Unlocks, $15.2 million worth of DYDX’s total supply, or 0.7%, will be unlocked on April 11 at 18:00 Turkish time.
Token unlocks are not necessarily a bad thing for projects or their holders because they can also signal maturity, trust, and transparency. However, they may also experience selling pressure or volatility in the short term, as some traders may choose to make a profit or exit their positions.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!