In the world of cryptocurrency, a massive token unlock alert has been issued, with a staggering $208.53 million worth of tokens set to flood the market in the next 7 days. This news has sent shockwaves through the crypto ecosystem, as investors brace themselves for potential market volatility.
According to Drops Tab data, a total of 26 tokens are scheduled to unlock in the upcoming week, with some major players poised to make their entrance. Near Protocol, currently trading at $6.34 with a market cap of $7 billion, is set to release 254,683 tokens in the next 5 hours. This unlock will occur over a 48-month vesting period, adding 0.03% of the supply into the market. Similarly, XPLA token, priced at $0.1244 with a market cap of $77.16 million, will release 18.74 million tokens today, contributing 0.94% of the supply.
MintLayer, a token launched in March 2023, is also on the list with only 10.70% of its total supply currently in circulation. With a market cap of $9.67 million, this token is trading at $0.15 and has a long vesting period planned for the release of its locked tokens.
In addition to these tokens, several others including SAFE, ALT, FP, ID, and FIDA are also set to be released from their locked supply. This influx of tokens into the market could have a significant impact on prices and trading volumes, as investors decide whether to take profits or reinvest in other opportunities.
Historical market data suggests that token unlocks can lead to two outcomes – investors either cash out their profits or stake the tokens in various protocols for yield rewards. The availability of staking features varies among different cryptocurrencies, but the potential for profit-taking remains high, especially for those who acquired the tokens during pre-launch or ICO rounds.
As the crypto market braces for this influx of unlocked tokens, investors are advised to stay informed and plan their actions accordingly to navigate the potential market fluctuations ahead.
