Token Unlock: Optimism Unleashes $30 Million, 1 Inch Follows with $38.8 Million This Week
According to data from Token Unlock, the total value of these unlocked tokens amounts to approximately $37 million based on current market prices. This development has drawn the attention of investors, who are closely monitoring the potential impact on the prices of these cryptocurrencies.
Acala (ACA) is the first on the list, with an unlocking event scheduled for 9 am on the 25th. A total of 4.66 million ACA tokens, equivalent to around $220,000 in market value, will be released.
Next up is Galxe (GAL), which will unlock 586,700 tokens valued at approximately $770,000 at 9 am on the 27th.
Yield Guild Games (YGG) plans to unlock a substantial 12.42 million tokens, worth about $2.68 million, at 11 p.m. on the 27th.
On the 28th, SingularityNET (AGIX) is set to unlock 9.68 million tokens, with a market value of roughly $1.72 million, at 9 am.
Euler (EUL) will follow closely behind, unlocking 153,020 tokens valued at about $410,000 at 9:14 am on the same day.
Optimism (OP), one of the most closely watched projects, will unlock a whopping 24.16 million tokens, worth approximately $31.17 million, at 1 p.m. on the 30th.
Finally, 1INCH will unlock 15,000 tokens at 5 pm on October 1st, with the market value equivalent to an impressive $38.8 million.
These unlocked tokens represent a significant injection of cryptocurrency into the market by these projects. Such large-scale unlockings have become somewhat of a trend for projects like 1 Inch, Optimism (OP), Acala, and Yield Guild Games in recent months. While these events may be seen as opportunities for investors, they also raise concerns about potential subsequent price declines.
Read more:
- ApeCoin (APE) Leads The Way: $178 Million In Token Unlocks Set For September
- Token Unlock: ACA, YGG, AGIX, GAL, And OP Tokens Worth $38 Million To Hit The Market This Week