- Token unlocks may influence supply dynamics.
- Market volatility is expected as tokens are unlocked.
- Investor sentiment will play a crucial role in post-unlock price movements.
As the cryptocurrency market continues to evolve, several prominent tokens are scheduled for major unlocks in the coming week. These unlocks have the potential to significantly impact the supply and market dynamics of the respective cryptocurrencies.
⚡️Upcoming Token Unlocks
— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) June 12, 2023
12 June 2023
During 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
Let’s take a closer look at some of the notable token unlocks scheduled for the upcoming days.
Key Token Unlocks to Watch Out For
On June 14th, Filecoin (FIL) is set to unlock approximately 5.56 million tokens, valued at $19.1M. This represents 0.28% of the total supply. While the amount may seem relatively small, such unlocks can still influence the supply dynamics of Filecoin. Moreover, this is potentially affecting its market value.
Similarly, on June 15th, BitDAO (BIT) will unlock 187 million tokens, valued at $79.3M. This significant supply release represents 1.88% of the total supply. Such a substantial unlock has the potential to introduce a considerable number of tokens into circulation, which may lead to increased market volatility.
On the same day, BLUR (BLUR) will unlock 198 million tokens, valued at $64.8M, representing 6.62% of the total supply. Concerning the unlock, accounting for a significant portion of the supply, could have a profound impact on BLUR’s price and overall market sentiment.
On June 16th, UNISWAP (UNI) will release 8.33 million tokens, valued at $34.5M, comprising 0.83% of the total supply. Although the unlocked amount is relatively smaller compared to other tokens, UNISWAP’s unlock is noteworthy due to its prominence in the decentralized finance (DeFi) ecosystem.
Furthermore, TheGraph (GRT) is set to unlock 89.4 million tokens on June 17th, valued at $8.9M. However, this amounts to 0.89% of the total supply. While the value may not be as substantial, the unlock may still have implications for TheGraph’s market performance.
On the same day, ApeCoin (APE) will unlock 15.6 million tokens, valued at $35.5M, constituting 1.56% of the total supply. The release of this sizable amount may generate market volatility as investors react to the increased supply.
Additionally, ImmutableX (IMX) will unlock 18.1 million tokens, valued at $11.1M. Meanwhile, this is accounting for 0.91% of the total supply, on June 17th. The unlock of ImmutableX tokens is expected to attract attention from both traders and long-term investors alike.
Finally, on June 18th, LIDO (4LDO) will unlock 7.92 million tokens, valued at $14.4M, representing 0.79% of the total supply. The unlock of LIDO tokens may lead to market fluctuations as market participants assess the implications of the additional tokens in circulation.
The upcoming token unlocks for BIT, BLUR, APE, UNI, FIL, and other cryptocurrencies are anticipated to bring both excitement and uncertainty to the market. These unlock will likely influence the supply dynamics, market sentiment, and trading activity surrounding these tokens. Traders and investors should carefully consider the implications of these releases. However, they navigate the ever-evolving landscape of the cryptocurrency market.
