- With 94% of its tokens locked, Saga (SAGA) may experience increased selling pressure as these tokens are gradually released into circulation.
- Over 60% of Xai’s (XAI) tokens are locked, held mainly by the team and investors, suggesting possible price swings when these tokens are unlocked.
- With a majority of their tokens already unlocked, Immutable (IMX) and The Sandbox (SAND) may enjoy more stable market conditions compared to their peers.
How some emerging projects in the GameFi sector allocate tokens could provide valuable information about future developments. Data obtained from Token Unlocks reveal that such projects as Saga (SAGA), Xai (XAI), Immutable (IMX), and The Sandbox (SAND) have a considerably different portion of locked tokens, which can exert a rather powerful influence on their market prices when these tokens are free.
Read CRYPTONEWSLAND on
google news
Saga (SAGA): Early in Distribution
Saga (SAGA) is still in the early stages of token distribution, as 94% of its tokens remain in circulation. This ample locked supply suggests that SAGA might experience selling pressure as these tokens begin to unlock.Â
Nevertheless, the risk of SAGA being vulnerable to a dump has not materialized in the overall positive market sentiment, which saw a hike in its price on the last day by 8.07%. This recent bullish trend can be seen in the SAGA/USD daily chart as it bounces back above 9-EMA and a 9-EMA .The RSI is trading at 47 which shows it’s in neutral position with the MACD below the signal line signaling a bearish momentum.
Xai (XAI): Concentration Risks
Xai (XAI) has over 60% of its token supply locked, with a significant portion held by the team and early investors. This concentration could lead to notable price swings when these tokens are eventually unlocked.Â
Currently, XAI’s price has seen a modest increase of 1.51% in the past day. The token’s market performance is further highlighted by its RSI of 61.05, suggesting a lingering bullish phase. However, a slight bullish divergence in the MACD histogram hints at a potential reversal.
Immutable (IMX) and (SAND): Moving Towards Stability
Immutable (IMX) has advanced further in its token distribution, with less than 25% of its supply still locked. All investor tokens have already been unlocked, which minimizes the risk of sudden supply increases affecting its market.IMX has responded positively, with its price trading at $1.44, it has seen an increase by 9.6% over the past day.Â
Meanwhile, The Sandbox (SAND) has only 6.8% of its supply locked, signaling the final stages of its distribution. This minimal locked supply suggests that SAND might experience more stable market conditions moving forward.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
