Another week has passed in the Bitcoin and altcoin market. As we enter a new week, many important issues are waiting for us. In the first place is the issue of unlocking tokens.
Token unlock event for 16 altcoins
On July 31, altcoin SafePal (SFP) will unlock $10.80 million worth of tokens. On August 1, Merit Circle (MC) will unlock $2.79 million in tokens. Also on the same date, StakeWise (SWISE) will unlock $1.52 million in tokens. Ondo Finance (ONDO) will unlock the token on this date. Accordingly, it will unlock $6.95 million worth of tokens. Hooked Protocol (HOOK) will unlock $3.98 million tokens.
Another altcoin that will be token unlocked on August 1 is dYdX (DYDX). The altcoin will unlock $13.39 million tokens. On August 2, altcoin Orbler (ORBR) will unlock the token. The altcoin that will unlock another token on the same date is Agoric (BLD).
Other cryptocurrencies
Biconomy (BICO) will unlock $1.66 million tokens on August 2. Altcoin Sui (SUI) will unlock $21.83 million in tokens on August 3. Altcoin Near (NEAR) will unlock the token on August 4. Accordingly, the value of the tokens to be unlocked is exactly 10.93 million dollars.
Altcoin Meta Apes PEEL (PEEL) will unlock $1.18 million worth of tokens on August 4. Mines of Dalarnia (DAR) will unlock $2.32 million worth of tokens on the same date. Frutti Dino (FDT) will unlock the token on August 5. The market value of the tokens to be opened is $1.08 million. Galxe (GAL) will unlock $9.34 million tokens. Finally, altcoin Talken (TALK) will unlock $1.13 million worth of tokens on August 6.
What does token unlock mean
Token unlocking is an important event in the cryptocurrency space as it means releasing previously locked or restricted tokens in a project’s ecosystem. Often tokens are subject to vesting schedules or lock-in periods that prevent certain stakeholders, such as team members or initial investors, from selling their tokens immediately on the open market.
Once the token is unlocked, a significant amount of tokens become available for trading. Accordingly, this potentially leads to increased volatility and fluctuations in the token price. Investors keep a close eye on token unlock events as they can have a significant impact on market sentiment and overall token liquidity.
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