Cryptocurrencies sometimes go through an unlocking process, which means that previously locked tokens are added to the circulating supply. This may have an impact on the token’s market price as it affects supply and demand dynamics. In this article, we will be covering some altcoin projects that will unlock their tokens this week. Here are the details…
This week there are unlocks for these altcoin projects
This week, several tokens will be unlocked, which were kept under lock and key until their release date. Initially, Vela Exchange will unlock $2.3 million worth of tokens on May 8, 2023. That’s almost 10 percent of the total market value. On the other hand, Cere Network will unlock $2.09 million worth of tokens on the same day, equivalent to 10.85 percent of the market capitalization. On May 9, 2023, DAO Maker will unlock $23.21 million worth of tokens, equivalent to 9.09 percent of the market capitalization.
CryptoGPT, on the other hand, will unlock $1.74 million worth of tokens, representing 36.67 percent of the market cap, while GMT will unlock $26.14 million, representing 11.74 percent of the market cap. Also on May 9, dYdX will unlock $15.44 million worth of tokens, which is 4.06% of the market capitalization.
Unlocks also on AZERO, ICP, CGPT and more
Aleph Zero will unlock $1.97 million worth of tokens on May 10, 2023, equivalent to 0.73 percent of the market capitalization. Sipher will launch $1.07 million worth of tokens, equivalent to 20.64 percent of the market capitalization, and ChainGPT, $2.65 million worth of tokens, corresponding to 19.86 percent of the market capitalization, on the same day. Internet Computer will unlock $18.63 million worth of tokens on May 11, 2023, corresponding to 0.76 percent of the market capitalization. Wilder World will unlock $1.43 million worth of tokens, equivalent to 2.01 percent of the market capitalization, while BitMEX will unlock $10.04 million, representing 18.57 percent of the market capitalization.
Gods Unchained will unlock $1.25 million worth of tokens, 2.97 percent of the market capitalization, on the same day. Finally, WeWay will unlock $1.75 million worth of tokens on May 11, 2023, or 11.50 percent of market capitalization, and Aptos will unlock $42.48 million worth of tokens, representing 2.39 percent of market capitalization, on May 12, 2023. opener.
Also on May 12, Fracton Protocol (FT) will unlock $3.84 million and Parallel Finance (PARA) unlock $1.02 million. On May 12, BOBA will also launch the $1.37 million BOBA token. On May 13, NYM will unlock $14.73 million tokens, while DappRadar (RADAR) will unlock $1.64 million tokens. The $3.76 million SWEAT will also enter the market on the same day. Finally, on May 14, $29 million FIL, $7.35 million BICO, $7.08 million Artificial Liquid Intelligence, $2.93 million RSS3 and $1.05 million VOXEL will be unlocked.
Token unlocks are important in the market
Investors will be watching these events closely to see how they will affect the prices of these tokens and the broader cryptocurrency market. Unlocking tokens is an important event in the lifecycle of a cryptocurrency and can have a significant impact on the token’s market price. It is important for investors to follow the unlocking schedules of their favorite cryptocurrencies and consider the potential impact on the market price before making any investment decisions.
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