Investors and traders closely follow token unlocking events in the cryptocurrency market. Because these new tokens entering the market change the tokenomics of the relevant altcoin projects. Therefore, the unlock event puts pressure on the price of tokens with increased market supply. Loaded token unlocking events will also take place this week. Market players will closely monitor the 7 prominent altcoins.
ACA, GAL and YGG will stand out in the first half of the week
According to data from Token Unlock, the total value of these unlockable tokens is approximately $37 million at current market prices. This development is attracting the attention of investors who are closely watching the potential impact on the prices of these cryptocurrencies.
Acala (ACA) is at the top of the list with its unlocking event scheduled for the 25th. It will release a total of 4.66 million ACA tokens, with a market cap of approximately $220,000. Next comes Galxe (GAL), which will unlock 586,700 tokens worth approximately $770,000 on the 27th. Yield Guild Games (YGG) plans to unlock 12.42 million tokens on the 27th. The approximate value of these tokens corresponds to $2.68 million.
These 4 altcoins will be unlocked in the second half
On the 28th, SingularityNET (AGIX) will unlock 9.68 million tokens. The value of the tokens to be released by the altcoin project is equivalent to approximately 1.72 million dollars. Euler (EUL) will follow closely behind, unlocking 153,020 tokens worth approximately $410,000 on the same day.
Optimism (OP), one of the altcoin projects that investors follow most closely, will also be unlocked. Optimism will release 24.16 million tokens on the 30th. The approximate value of these new tokens that will enter the market corresponds to 31.17 million dollars. Finally, 1INCH will unlock 15,000 tokens on October 1, with a market cap equivalent to $38.8 million.
Unlock events and their impact on token prices
These unlocking altcoin projects will inject a significant token into the market. This means that the supply of tokens in the market increases. These types of large-scale unlocks have become a trend in recent months for projects like 1 Inch, Optimism (OP), Acala, and Yield Guild Games.
As one aspect of the unlock events, some see it as an opportunity for investors. However, the increase in supply dynamics also brings concerns about possible price declines that may occur later. cryptokoin.comAs you can see from , unlock events are always on the radar of investors.
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