The altcoin Hedera (HBAR), which is closely followed by the crypto money market, will soon appear before its investors with a big unlock! With this unlocking event, experts suggested that price levels may decline! Here are the details…
Unlock alert for Hedera (HBAR): 1.27 billion HBAR will be unlocked!
Undoubtedly, one of the most followed events of the crypto money market is the key openings of crypto money projects. According to data released by Token Unlock, the Hedera Network will unlock 2,547 percent of its total supply on June 1, which will equate to exactly 1,273,353,491 HBAR. Furthermore, the Hedera Deployment Report, which is compiled and distributed quarterly, states that the unlock distribution will include HBAR 533 million for purchase agreements, HBAR 403 million for ecosystem and open source development, and the remaining HBAR 335 million for network management and related operations.
cryptocoin.com As we have mentioned, Hedera’s total circulating supply is at the level of 31 billion instantly. That’s roughly 62 percent of its 50 billion max supply. However, it is stated that immediately after this unlock, subsequent token release events will not be that important and will result in only minor additions to the current token supply.
So, what are the next levels for altcoin HBAR price?
Coin unlocking in the cryptocurrency market has traditionally been seen as a bearish signal as it tends to increase the total number of coins in circulation. As more tokens enter the market, the supply increases, which can lead to an imbalance between sellers and buyers. A greater supply of tokens and relatively less demand for them puts sellers at a disadvantage, which may cause them to lower their desired price to attract buyers. As a direct result of this, the value of the coin may experience a temporary downward trend.
While it is true that unlocking Coins could result in a significant drop in the coin’s market value, the impact of such an event may not always be as devastating as one might expect. In the case of Hedera, the DAG-based project has experienced several token unlocks over the past few years, which has helped ease the selling pressure in the market. As a result, according to experts, altcoin HBAR is less likely to experience a sudden drop in price due to the upcoming unlock event.
While the popularity of HBAR is increasing day by day, the price level is instantaneously trading at $0.0513. This indicates a decrease of over 9 percent in the last 7-day period. The popular altcoin has gained 0.10 percent in the last 24 hours.
