Next week marks a significant moment for the altcoin market, with a series of token unlocking events set to take place. These events are crucial for both investors and cryptocurrency market enthusiasts, as they can directly influence the supply and demand dynamics, and consequently, the market value of the altcoins involved.
The process of unlocking tokens is a common practice in the cryptocurrency ecosystem, especially after an Initial Coin Offering (ICO) or token sale. During these sales, tokens are purchased by investors and then held on lock for a predetermined period. The purpose of this blocking is often to ensure a stable market launch, avoiding immediate mass selling that could lead to a devaluation of the token.
As the lock-up period comes to an end, tokens are gradually released into circulation, allowing holders to sell, trade or use their assets freely. The nature and impact of these unlocks can vary considerably depending on the volume of tokens released and the structure of the unlock schedule established by the issuing organization.
Token Unlocking
Among the most notable unlock events of the week are the GateToken (GT) tokens, with an impressive market cap of $475.79 million and a value of tokens to be unlocked of $32.89 million. This represents 6.91% of its market value, an indication that the event could have a tangible impact on the GT’s price.
Other altcoins like Dogechain (DC), AltLayer (ALT), Sei (SEI), Flow, Yield Guild Games (YGG), HOPR, Fetch.ai (FET), Chromia (CHR), Maverick Protocol (MAV), Open Campus ( EDU), Hooked Protocol (HOOK), dYdX (DYDX), Biconomy (BICO), and Ocean Protocol (OCEAN) are also on the list for unlocking tokens. Each of them presents a varying percentage of tokens to be unlocked in relation to their market value, reflecting the diversity and complexity of the altcoin market.
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GateToken (GT)
GT is an altcoin focused on offering trading and financial solutions within the Gate.io ecosystem.
Market Value: $475.79 million
Value of Unlocked Tokens: $32.89 million (6.91% of Market Value)
Token Unlock Date: February 26, 2024 -
Dogechain (DC)
DC seeks to expand Dogecoin’s functionality with a blockchain layer that supports smart contracts.
Market Value: $20.24 million
Value of Unlocked Tokens: $2.55 million (12.60% of Market Value)
Token Unlock Date: February 26, 2024 -
AltLayer (ALT)
ALT aims to improve the scalability of blockchains through an alternative processing layer.
Market Value: $557.59 million
Value of Unlocked Tokens: $1.75 million (0.31% of Market Value)
Token Unlock Date: February 26, 2024 -
Six (SIX)
SEI is designed to optimize trading and liquidity with a specialized blockchain infrastructure.
Market Value: $1.49 billion
Value of Unlocked Tokens: $1.92 million (0.13% of Market Value)
Token Unlock Date: February 26, 2024 -
Flow
Flow is a fast, decentralized blockchain designed to support a new generation of games, apps and digital assets.
Market Value: $1.51 billion
Value of Unlocked Tokens: $7.01 million (0.47% of Market Value)
Token Unlock Date: February 27, 2024 -
Yield Guild Games (YGG)
YGG is a token that represents a community of gamers and investors who generate income through blockchain games.
Market Value: $165.26 million
Value of Unlocked Tokens: $5.31 million (3.21% of Market Value)
Token Unlock Date: February 27, 2024 -
HOPR
HOPR offers data privacy through a decentralized network, encouraging data transmission in a secure manner.
Market Value: $23.55 million
Value of Unlocked Tokens: $4.28 million (18.14% of Market Value)
Token Unlock Date: February 27, 2024 -
Fetch.ai (FET)
FET is focused on building a decentralized artificial intelligence infrastructure that enables large-scale automation.
Market Value: $944.98 million
Value of Unlocked Tokens: $3.80 million (0.40% of Market Value)
Token Unlock Date: February 28, 2024 -
Chromia (CHR)
CHR is a decentralized application development platform aiming to improve performance and scalability.
Market Value: $347.02 million
Value of Unlocked Tokens: $2.48 million (0.72% of Market Value)
Token Unlock Date: February 28, 2024 -
Maverick Protocol (MAV)
MAV introduces an innovative smart contract architecture aimed at increasing security and flexibility in transactions.
Market Value: $171.88 million
Value of Unlocked Tokens: $7.56 million (4.43% of Market Value)
Token Unlock Date: February 28, 2024 -
Open Campus (EDU)
EDU aims to revolutionize education through blockchain, making it easier to access and verify educational credentials.
Market Value: $231.20 million
Value of Unlocked Tokens: $8.45 million (3.65% of Market Value)
Token Unlock Date: February 28, 2024 -
Hooked Protocol (HOOK)
HOOK is focused on gamification and blockchain education, encouraging learning and participation in the crypto ecosystem.
Market Value: $140.87 million
Value of Unlocked Tokens: $9.38 million (6.69% of Market Value)
Token Unlock Date: March 1, 2024 -
dYdX (DYDX)
DYDX is a decentralized trading platform that offers futures contracts, loans and margin trading without intermediaries.
Market Value: $1.01 billion
Value of Unlocked Tokens: $137.24 million (13.53% of Market Value)
Token Unlock Date: March 1, 2024 -
Biconomy (BICO)
BICO facilitates user interaction with decentralized applications, reducing the complexity of transactions on the blockchain.
Market Value: $243.77 million
Value of Unlocked Tokens: $2.79 million (1.14% of Market Value)
Token Unlock Date: March 2, 2024 -
Ocean Protocol (OCEAN)
OCEAN aims to unlock the value of data by enabling individuals and businesses to share and monetize information securely.
Market Value: $414.29 million
Value of Unlocked Tokens: $1.49 million (0.36% of Market Value)
Token Unlock Date: March 3, 2024
It is essential for investors to understand unlock timelines as they can significantly influence token prices. A controlled, phased release tends to be less damaging to market value than a mass unlock, which can lead to oversupply and put downward pressure on prices.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/grandes-desbloqueio-de-tokens-na-proxima-semana/
