As is often the case, critical altcoin unlocks are gaining attention this week. For the most part, the unlocking and launch of new tokens does not cause any selling pressure on the coins. However, investors are still following the unlock process closely. Here are this week’s key unlocks
Which altcoin projects are unlocking this week?
Token Unlocks data revealed a series of unlock events that led to the release of significant token values this week. BIT and APE kick off the unlock spree by unlocking more than $50 million in tokens, while ROSE and IMX are set to follow suit by unlocking more than $10 million in tokens. There are also important unlocks for SWEAT. Some expect these unlock events to affect the respective altcoin projects and market dynamics.
First of all, today, 187,499,999.36 BIT tokens were unlocked on BitDAO. This release cost approximately $91.85 million, or 1.95 percent of the total supply. The release of these tokens has been a major event for BitDAO and its community. Potentially impacted the market sentiment surrounding the project.
Tomorrow, at 06:00 CET, Sweatcoin (Sweat Economy) will also experience significant token unlocking. With 22,515,021,563 SWEAT tokens worth $151.41 million expected to be unlocked, the project comes to the fore. The total token supply amounts to 5.93 billion SWEAT. So this unlock event represents 69.13 percent of the available tokens.
APE, ROSE, 1INCH and IMX unlock too
Looking ahead, APE tokens will be unlocked on May 17 and 15,601,325 tokens worth approximately $51.64 million will become available. This unlock event accounts for 1.56 percent of the total supply. It is expected to attract great interest from investors and traders interested in APE. On May 18, the amount of 1inch coins equivalent to 9 thousand dollars will be unlocked.
Also, on May 19, Oasis Network’s ROSE tokens will be unlocked, with a total value of approximately $10.65 million. This unlock will release 199,500,000 tokens representing 1.99% of the total supply. Oasis Network continues to attract attention in the Blockchain ecosystem. For some, this unlocking event will likely play a role in shaping the future direction of the project.
Finally, ImmutableX’s IMX tokens are scheduled to be unlocked on May 20. This unlock will release 18,075,990.71 IMX tokens worth approximately $13.57 million, accounting for 0.904 percent of the total supply. ImmutableX’s innovative layer-2 scaling solution has garnered attention in the Blockchain community.
How do unlock processes affect price?
Investors and enthusiasts will be watching these unlock events closely as they have the potential to impact the altcoin market and the general sentiment surrounding these projects. Unlocking significant token values often generates interest and discussion within the crypto community. Although a price change is usually expected, such a movement may not always be seen. For example, Aptos cryptocoin.com As we reported, it unlocked $39 million in APT last week. However, the APT price did not change dramatically.
Contact us to be instantly informed about the last minute developments. twitter‘in, 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.