The cryptocurrency market is bracing for major token unlocks totaling $82.46 million this week. These upcoming releases could significantly impact both supply and investor sentiment.
Key Token Unlocks
This week’s biggest unlock is IMX (Immutable X), releasing 2.06% of its circulating supply, valued at $46.11 million. This release is part of the project’s ongoing distribution strategy, coming from community and foundation reserves. Next is the TAIKO token, poised to release a hefty 19.02% of its circulating supply at $20.28 million. The MODE token will also release 38.46% of its supply, worth $6.39 million, which could spark volatility.
Market Impact
These unlocks could significantly impact liquidity and market dynamics. In particular, large releases like IMX and TAIKO could create substantial price pressure and market volatility. Furthermore, additional token releases of ENA, GAL, HFT, and DYDX will also add millions of new tokens, potentially affecting liquidity.
Token Details
A brief overview of this week’s major token unlocks: - IMX (2.06%) – $46.11M - TAIKO (19.02%) – $20.28M - MODE (38.46%) – $6.39M - ENA (0.82%) – $3.57M - GAL (0.82%) – $2.31M - HFT (3.06%) – $1.95M - DYDX (0.68%) – $1.46M
The upcoming token unlocks worth $82.46 million could significantly alter the cryptocurrency market dynamics, influencing both supply and investor sentiment. Monitoring these events closely will allow for a better understanding of market trends and potential price fluctuations.
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