Unfreezing: Its Impact and Importance in the Cryptocurrency Market
Cliff Unlock is a major event in cryptocurrencies, where frozen amounts of coins are released into circulation. This event can have a significant impact on the market, as releasing large amounts of coins increases supply, which can affect prices if not accompanied by increased demand.
Here's a detailed look at the cryptocurrencies that will be unfrozen between November 18 and 22, 2024:
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1. $AVAX (Avalanche)
Unfreezing date: November 18, 2024
Defrost Quantity: $58.95M
Percentage of total supply: 0.41%
Avalanche is one of the most prominent networks that rely on smart contracts. Although the percentage released is small compared to the total supply, the large amount in dollars can affect the liquidity of the market.
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2. (Oasis Network) ROSE
Unfreezing date: November 18, 2024
Defrost Quantity: $14.75M
Percentage of total supply: 2.62%
Oasis Network focuses on privacy and decentralized computing. With a relatively higher release rate, the market may see fluctuations in the coin price during this event.
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3. PXL (Pixel)
Unfreeze Date: November 19, 2024
Defrost Quantity: $11.00M
Percentage of total supply: 7.05%
Pixel's relatively high release rate is a reason for investors to keep a close eye on the market, as it could lead to significant selling pressure.
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4. OWN
Unfreezing date: November 19, 2024
Defrost Quantity: $3.09M
Percentage of total supply: 0.69%
The relatively small amount released makes the potential impact less significant compared to other currencies, but it may affect price fluctuations in the market.
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5. THIS
Unfreezing date: November 20, 2024
Defrost Quantity: $7.33M
Percentage of total supply: 0.45%
ENA will see a small amount released relative to the total supply, which could have a limited impact compared to some other coins.
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6. GAL (Project Galaxy)
Unfreezing date: November 21, 2024
Defrost Quantity: $1.09M
Percentage of total supply: 0.46%
GAL is used in projects related to digital identity and interaction with Web3. The impact of editing may be weak due to the limited amounts edited.
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7. ADA (Cardano)
Unfreezing date: November 21, 2024
Defrost Quantity: $13.98M
Percentage of total supply: 0.05%
Despite the large dollar amount of the release, the small percentage of the total supply makes the expected impact on the ADA price limited.
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8. ID
Unfreezing date: November 22, 2024
Defrost Quantity: $8.21M
Percentage of total supply: 4.29%
Releasing a relatively high ID may have a significant impact on the price if the released quantity is accompanied by selling pressure.
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Conclusion
Unfreezing is a key indicator that investors should take into account when making their decisions. Monitoring these events helps anticipate price fluctuations resulting from oversupply, especially in high-volume coins such as PXL and ID. It is advisable to be cautious during these periods and focus on technical and fundamental analysis to determine appropriate entry and exit points.
