Algorand Prepares for Next Token Unlock Event Starting March 19

Algo Algorand

Algorand, a third-generation Proof-of-Stake (PoS) blockchain, is preparing for its next token unlock event, scheduled to start on March 19, 2024, and last for 31 days.

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During this period, the project will release 2.29 million ALGO tokens daily into the Algorand network. Based on the current value of ALGO, this translates to approximately $516,000 in fiat value unlocked each day.


Algorand’s Token Unlock Dynamics

Current Circulation and Locked Supply: Data from Token Unlock indicates that 9.77 billion ALGO, almost 98% of the total token supply, has been unlocked and is currently in circulation. Conversely, around 234.75 million ALGO, representing approximately 2% of the total supply, remains locked within the project.

Upcoming Token Unlock Exercise: The upcoming token unlock exercise, commencing on March 19, will entail unlocking 2.29 million tokens daily for 31 days, totaling 70.99 million ALGOs. This leaves a balance of 163.76 million ALGOs earmarked for future unlocks.

Token Unlock Programs and Tokenomics: Blockchain projects meticulously design their token unlock programs to align with their tokenomics, ensuring a balanced supply. These exercises serve as a model to gauge the economic dynamics of tokens. Algorand’s last token unlock, which started on February 19 and lasted 29 days, saw the release of 2.48 million ALGOs valued at $486,990.

Price Movement and Future Expectations: Algorand’s current trading price of $0.269 reflects a 41% surge since the launch of the previous token unlock exercise. Users are anticipating the impact of future unlocks on ALGO’s price, especially in light of the upcoming altseason and the ongoing bull run.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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