We looked at the four cryptocurrencies that will be “token unlocking” in the near future, based on their price and project effects.
Based on data from TokenUnlocks, we’ve compiled the cryptocurrencies that are expected to unlock this week. These crypto projects will add to the existing circulating supply with the token unlock. In cryptocurrencies, whose circulating supply will increase, the effects on price and market direction have been a matter of curiosity.
Belonging to early investors, sponsors or partnerships, these new tokens are being watched carefully for selling pressure once unlocked. Soon, 1INCH, GAL, ACA, IMXNotable “token unlocks” will take place on the side.
1- 1inch Network (1INCH)
Decentralized crypto exchange 1inch, briefly 1INCH, it scans other decentralized exchanges to provide its users with the best prices and the lowest It is a platform that offers transaction fees.
One of the coins that will unlock 1INCH, your total supply 0.018 percentthe one which… of 274,286 1INCH will unlock. Popular decentralized exchange project based on Ethereum 1INCH, $152,763 worth of tokens will continue to circulate. On the decentralized exchange platform, the number of currently unlocked tokens stands out as 833,118,341. Remaining amount of locked tokens, approx. 309 milliondollar 554,945,095It consists of 1INCH.
This token unlocking, which will be carried out on the 1inch side, will lead to the circulation of 152 thousand dollars token. Considering the current market value of the project, the level of 442 million dollars draws attention. At this market value and with a daily volume of more than $2 million, the circulation of the $152k supply may not have a serious impact. However, it is on the table that if it coincides with the market conditions and the decrease in buying appetite, it may experience a minor correction.
2- Galxe (GAL)
Galxe ( GAL), a leading Web3 credential data network. Built on an open and collaborative infrastructure, Galxe Web3helps their projects leverage digital identity data and NFTs to build better products and efficient communities.
Another prominent name among the coins that will perform unlocking GAL, percent of the total supply 0.096as the 192,307.69 GAL it will go to unlocking. Unlocking will take place GAL, 423,077 is worth a dollar. Featured with Web3 works in the GALthe number of currently unlocked locks, 72,195,190 is . If the remaining number of locked tokens is 282,448,631equivalent to dollars 127,804,810piece GALis the token.
GALThis token unlocking will be held for 423 thousand dollar worth of tokens into circulation. Considering the current market value of the project, 102 million dollar level stands out. It has market value GALon the side, 423 Thousand-dollar supply may not have a drastic effect. But Bitcoin ( BTC) as a result of negative scenarios that may occur, GALThe price drop may increase further.
3- Acala (ACA)
ACA is an Ethereum-compatible, smart contract platform consisting of a decentralized finance (DeFi) network and liquidity hub for Polkadot (DOT). The ACA infrastructure includes a stablecoin network and liquidity staking platform.
Another coin to unlock ACA, percent of the total supply 0.466as the 4,657,534 ACA it will go to unlocking. Unlocking will take place ACA, 654,626is worth a dollar. DOTplatforms popularized by in ACAnumber of currently unlocked locks 249,564,611 is ACA, unlocked tokens are approx. 34,653,544 is worth a dollar. The rest is locked ACAif the number 750,435,389approximately as 104,202,456equivalent in dollars.
ACAWith the token unlock to be made by the 654 thousand dollarworth of tokens will be added to circulation. of the ACAGiven the current market value, 84 million dollar appears to be at the level. It has market value ACAon the side, 654 thousandThe inclusion of supply in dollars worth of circulation may not cause a sharp decrease in price.
4- ImmutableX (IMX)
IMX is the Ethereum token that powers Immutable X. Immutable X is a scaling solution for NFTs and aims to enable near-instant low-fee transactions. IMX; It can be used to stake on Immutable X, vote on the future of the protocol, and pay transaction fees.
Another coin to unlock IMX, percent of the total supply 0.904as the 18,075,990.62 IMX it will go to unlocking. Unlocking will take place IMX, 20,245,109 is worth a dollar. Offering solution methods for NFTs in IMXnumber of currently unlocked locks 894,157,380is and the value is approx. 1.001.456,265 is dollars. The rest is locked IMXif the number 1,238,543,735in dollar value 1,105,842,620customary.
of IMXwith the token unlock that will be carried out, 20,245 million dollarworth token. of IMXLooking at the current market value, 881 million dollar appears to be at the level. It has market value IMXon the side, 20 million The circulation of the supply of dollars worth of dollars may lead to a decrease in price. Considering the percentage rate, 0.904since a percent unlock will take place, IMXInvestors may need to be careful in this process.
