Tuesday, December 5, 2023:
🔸Galxe ( #GAL ): 2.03 million GAL tokens will be unlocked. (2.26% of circulating supply)
Thursday, December 7, 2023:
🔸Hashflow ( #HFT ): 13.62 million HFT tokens will be unlocked. (5.58% of circulating supply)
🔸Euler ( #EUL ): 129.48k EUL token unlocking will take place. (0.69% of circulating supply)
What are Token Unlocks? Why is it important?
Token unlocking means that tokens, usually offered for sale during an ICO (Initial Coin Offering) or private sale, are released after a certain locking period. This lock-in period covers a period determined at the beginning of the project and does not allow holders to sell or transfer their tokens during this period.
Token unlocking can have a number of effects on a project's token prices:
Sell Pressure: As token holders release their tokens, the increased supply in the market may push prices down. If many token holders decide to sell at the same time, this could cause selling pressure.
Investor Confidence: If the trust in the project is high and the token holders are confident in the tokens they hold, the unlocking may not have a negative impact. However, if investors start selling tokens after the unlock, this could reduce confidence in the project.
Project Development and News Flow: Token unlocking is often combined with project developments and news flow. If there are positive developments in the project, this could offset or exceed the effects of the unlock.
Investors generally follow a project's token unlock dates, and there may be more volatility in the market as these dates approach. Projects usually provide advance information about their unlock dates, so investors can follow these dates and adjust their strategies accordingly. #Tokenunlock #tokenunlocks
