The total tokens locked in the cryptocurrency market are currently worth an average of $102 billion. These tokens will be released after a certain period of time. Also known as the “vesting period”, this lockdown event represents the period of time during which the trading of cryptocurrencies is prohibited. Hedera The (HBAR) network is preparing for such an event on March 1.
Hedera Will Unlock 6.28% of Supply
The quarterly HBAR Deployment Report says the network will unlock 6.28% of its total supply on March 1, for a total of 3.14 billion. HBAR It states that it corresponds to the token. Considering the price of HBAR, this would result in approximately $238 million worth of token distribution.
Tokens for purchase agreements, network governance and operations are expected to account for 0.67% and 1.11% of unlocking, respectively. In addition, the unlock event will include assets for the Ecosystem and Open Source Development Program, which account for approximately 4.50% of unlocks.
As Koinfinans.com reported, Hedera’s circulating supply is around $25 billion. This means that about 50.61% of the supply is made available while 49.39% is locked.
Will HBAR Price Drop?
Token unlocking is often seen as a bearish sign as it increases the total amount of tokens in circulation. This is due to the fundamental dynamics of the market.
However, Hedera has held similar token unlocking events over the past few years. This helped break the pressure by helping supply to increase more slowly.
As seen with the moving averages, HBAR’s technical analysis (TA) indicators altcoin It poses a sell position for , and suggests a “sell” at level 10 and a “buy” at level 5. As a direct result of this latest HBAR news, Hedera’s price is currently trading at $0.075, representing a 1.42% drop over the past 24 hours compared to the 12.48% drop recorded over the previous seven days.
You can follow the current price action here.