According to data shared by Cryptorank.io, a leading blockchain investment and analytics platform, several major token unlock events are scheduled this week, potentially impacting the markets for these assets. Token unlocks typically involve releasing previously locked tokens into circulation, which can influence liquidity and price movements. The list includes well-known projects like Aptos (APT), Mochimo (MOCA), Conflux (CFX), HyperCycle (HYPC), SwapDEX (SDEX), SingularityNET (AGI), and Worldcoin (WLD). Here’s a breakdown of the upcoming unlock events and their potential market impact:
Key Token Unlocks: September 9 to September 13
Date: September 13, 2024
Amount Unlocked: ~11.31 million tokens
Value: $68.4 million
Percentage of Total Supply: 1.01%
Aptos, a layer-1 blockchain known for its focus on scalability and security, is set to unlock over $68 million worth of APT tokens. This release represents about 1.01% of its total supply. Given the significant value involved, this unlock could introduce notable volatility in APT’s price, as the increase in supply may create short-term selling pressure.
Date: September 12, 2024
Amount Unlocked: 178 million tokens
Value: $17.77 million
Percentage of Total Supply: 2.01%
MOCA is releasing a substantial 2.01% of its total supply, valued at approximately $17.77 million. While the value of the unlock is smaller compared to APT, the large number of tokens entering circulation could impact MOCA’s liquidity and price dynamics in the short term.
Date: September 10, 2024
Amount Unlocked: 87.49 million tokens
Value: $11.38 million
Percentage of Total Supply: 1.58%
Conflux, a public blockchain designed to bridge Asia and the rest of the world, will unlock 87.49 million CFX tokens, representing 1.58% of its total supply. This event may lead to increased trading activity and price adjustments, depending on the market’s response to the new supply.
Date: September 9, 2024
Amount Unlocked: 44.17 million tokens
Value: $10.94 million
Percentage of Total Supply: 2.06%
HyperCycle, a decentralized AI network, will unlock 44.17 million tokens worth approximately $10.94 million. As 2.06% of the total supply is introduced into circulation, this could lead to increased liquidity but also potential price fluctuations in the HYPC market.
Date: September 9, 2024
Amount Unlocked: 937 million tokens
Value: $7.78 million
Percentage of Total Supply: 9.38%
SwapDEX will release 937 million tokens, accounting for a significant 9.38% of its total supply. Despite the relatively low market value of $7.78 million, the high percentage of unlocked supply could lead to notable volatility in the SDEX market, especially if a large number of tokens are sold.
Date: September 12, 2024
Amount Unlocked: 66.48 million tokens
Value: $7.6 million
Percentage of Total Supply: 2.22%
AGI, known for its decentralized AI services, is set to unlock $7.6 million worth of tokens, representing 2.22% of its total supply. This token unlock could increase liquidity in the AGI market, with potential price fluctuations depending on investor reactions.
Date: September 9, 2024
Amount Unlocked: 5.02 million tokens
Value: $7.05 million
Percentage of Total Supply: 0.05%
Worldcoin, the blockchain project co-founded by OpenAI’s Sam Altman, will unlock 5.02 million WLD tokens, worth around $7.05 million. This relatively small unlock of 0.05% of total supply is unlikely to cause major market disruptions but could still impact WLD’s liquidity.
Impact of Token Unlocks on the Market
Token unlock events are closely watched by investors, as they can significantly affect market dynamics. With large amounts of tokens becoming available for trading, these events often lead to increased liquidity, but they can also exert downward pressure on prices if many investors decide to sell their newly unlocked tokens. However, in some cases, token unlocks can lead to bullish behavior if investors view the increased liquidity as a sign of the project’s continued growth and potential.
For this week’s token unlocks, APT and MOCA stand out due to the high value of the tokens being unlocked, while SDEX’s substantial 9.38% supply unlock could result in notable volatility.
Conclusion
This week’s token unlock schedule features several high-profile projects, with Aptos (APT) leading the pack in terms of value. As over $68.4 million in APT tokens is set to be unlocked, alongside significant releases from MOCA, CFX, and HYPC, investors should brace for potential market movements. Monitoring these unlock events is critical for those looking to capitalize on short-term price fluctuations or to better understand the evolving tokenomics of these projects.
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