Token unlocks have the potential to affect supply dynamics, leading to anticipated market volatility. As tokens are unlocked, investor sentiment will play a crucial role in determining the post-unlock price movements
Upcoming major token unlocks in the cryptocurrency market are poised to reshape the landscape as the industry progresses. With several prominent tokens scheduled for significant unlocks in the coming week, the supply and market dynamics of these cryptocurrencies are expected to undergo substantial changes.
Notable token unlocks in the pipeline warrant a closer examination as they approach in the upcoming days.
⚡️Upcoming Token Unlocks
12 June 2023During this week, $BIT, $BLUR, $APE, $UNI, and $FIL will have the biggest unlocks.#FIL #BLUR $BICO #BICO $BIT #Uniswap #UNI $GRT #GRT #APE $IMX #IMX $LDO #Lido #LDO pic.twitter.com/xHfrMCagIw
— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) June 12, 2023
Also Read: Optimism and Sui to Unlock Tokens Worth $650 Million
Watch Out for Key Token Unlocks
Filecoin (FIL) is gearing up for an unlock of around 5.56 million tokens, equivalent to $19.1 million, scheduled for June 14th. Although this accounts for just 0.28% of the total supply, even such unlocks can have an impact on Filecoin’s supply dynamics and potentially influence its market value.
BitDAO (BIT) is preparing for a substantial token unlock on June 15th, releasing 187 million tokens worth $79.3 million. This represents a significant 1.88% of the total supply. The introduction of such a large number of tokens into circulation has the potential to induce heightened market volatility.
BLUR (BLUR) is poised for a substantial token unlock on June 15th, releasing 198 million tokens with a value of $64.8 million. This unlock represents a noteworthy 6.62% of the total supply. Given the considerable portion of the supply being unlocked, it has the potential to exert a profound influence on BLUR’s price and overall market sentiment.
UNISWAP (UNI) has a significant token unlock scheduled for June 16th, releasing 8.33 million tokens worth $34.5 million. While this represents a relatively smaller 0.83% of the total supply, it holds significance due to UNISWAP’s prominent role in the decentralized finance (DeFi) ecosystem. The unlock is anticipated to attract attention and potentially impact the market dynamics surrounding UNI.
TheGraph (GRT) has an upcoming token unlock on June 17th, releasing 89.4 million tokens valued at $8.9 million. This represents 0.89% of the total supply. Although the value may not be as significant, the unlock is still expected to have implications for TheGraph’s market performance and should be closely monitored.
ApeCoin (APE) is set to unlock 15.6 million tokens on June 17th, with a value of $35.5 million. This represents a notable 1.56% of the total supply. The release of such a substantial amount has the potential to trigger market volatility as investors respond to the increased supply of tokens.
On June 17th, ImmutableX (IMX) is scheduled to unlock 18.1 million tokens worth $11.1 million, representing 0.91% of the total supply. This unlock is anticipated to capture the interest of both traders and long-term investors, as it holds the potential to impact market dynamics and generate market activity around ImmutableX tokens.
LIDO (4LDO) is preparing for an unlock of 7.92 million tokens valued at $14.4 million on June 18th. This amounts to 0.79% of the total supply. As the additional tokens enter circulation, the unlock has the potential to trigger market fluctuations as market participants evaluate the impact of the increased token supply.
Anticipated token unlocks for BIT, BLUR, APE, UNI, FIL, and other cryptocurrencies are expected to generate excitement and uncertainty in the market. These unlocks will have an impact on supply dynamics, market sentiment, and trading activity related to these tokens. Traders and investors need to exercise caution and carefully evaluate the implications of these releases as they navigate the dynamic landscape of the cryptocurrency market.
Also Read: Crypto Trading Firm’s $9.8M Polygon Token Transfer to Coinbase and Binance Causes MATIC Price Plunge
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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