Major Token Unlocks Expected to Impact Crypto Market Dynamics
The post Major Token Unlocks Expected to Impact Crypto Market Dynamics appeared on BitcoinEthereumNews.com.
The DeFi market is reportedly going to see huge progress in the coming time while many prominent tokens are ready for their planned unlocks. As per Phoenix, a popular crypto analytics firm, the big token unlocks of Hooked Protocol ($HOOK), dYdX ($DYDX), Save ($SLND), Self Chain ($SLF), Beta Finance ($BETA), Optimism ($OP), Maverick Protocol ($MAV), Worldcoin ($WLD), Yield Guild Games ($YGG) will likely influence the market dynamics. Yield Guild Games ($YGG) Leads the Upcoming Major Token Unlocks Phoenix mentioned that these projects are focusing on releasing significant amounts of their local tokens in terms of circulation. This could potentially impact the market sentiment as well as the trading dynamics in the coming weeks. As per the data that the analytics platform provided, Yield Games ($YGG) leads these most predicted unlocks. The token unlock of this project will contain 11.49 million $YGG, equaling $5.79 million. This figure will reportedly account for the 1.15% proportion of the cumulative supply thereof. In addition to this, Worldcoin ($WLD) is another prominent player in the list of Phoenix. The project will witness 5.02 million $WLD tokens, equaling $10.48 million in token unlocks. This amount accounts for 0.05% of its cumulative token supply. The 3rd name in the respective list is Maverick Protocol ($MAV). It will see 15.52 million $MAV (equaling $3.76 million) in its upcoming unlock. This accounts for 0.78% of the cumulative token supply thereof. The 4th name in this list takes into account Optimism ($OP). Its next token unlock will see an amount of approximately 32.21 million $OP ($58.44 million). This will reportedly reach 0.75% of the total token supply. This precedes Beta Finance which is to record 16.67 million $BETA in token unlocks ($805.53K). This accounts for 1.67% of $BETA’s cumulative token supply. Self Chain ($SLF) comes next in the list with…
Filed under: News - @ September 28, 2024 4:14 am