KEYTAKEAWAYS
- Token unlocks can significantly influence market prices, either by causing declines due to increased supply or unexpected rises.
- Upcoming unlocks include major tokens such as GAL, HFT, ENA, DYDX, and IO, with specific dates and token quantities detailed.
- Investors are advised to use tools like the Token Unlocks website to track unlock schedules and prepare for possible market movements.
CONTENT
Check out the potential impacts of large-scale token unlocks on crypto prices with our guide on upcoming events for GAL, HFT, ENA, DYDX, and IO.
WHAT ARE TOKEN UNLOCKS?
If you’re an investor looking to delve deeper into the market, token unlocks are events you need to closely monitor due to their potential impact on token prices.
When each project issues its native tokens, they are typically allocated proportionally to developers, early investors, and others as part of the token distribution model. To prevent significant selling pressure at the project’s launch, many projects set a “lock-up period,” during which tokens held by relevant parties are locked and cannot be immediately traded. Subsequently, at specific times, these tokens are partially unlocked, allowing holders to trade freely.
This acts as a price protection mechanism for the project, but for investors, a large-scale token unlock can exert downward pressure on the token prices. For example, at the end of last year, dYdX unlocked tokens worth approximately $485 million, causing its price to plummet nearly 5% in one day, with the decline continuing for several days.
However, there are also cases where token prices did not fall as expected after the unlock and instead increased. Therefore, whether the price will rise or fall after an unlock requires further research by investors.
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UPCOMING TOKEN UNLOCKS
Here, we introduce Token Unlocks, a practical data-providing website that shows the schedule of all the token unlocks, along with the circulating and unlocking amounts. Let’s take a look!
Galxe (GAL)
- Unlock Date: July 5, 12:00 AM UTC
- Number of Tokens Unlocked: 3 million GAL
- Current Circulating Supply: 115 million GAL
Hashflow (HFT)
- Unlock Date: July 7, 12:00 AM UTC
- Number of Tokens Unlocked: 13.62 million HFT
- Current Circulating Supply: 415 million HFT
Ethena (ENA)
- Unlock Date: July 7, 07:00 AM UTC
- Number of Tokens Unlocked: 14.89 million ENA
- Current Circulating Supply: 1.71 billion ENA
dYdX (DYDX)
- Unlock Date: July 9, 04:00 PM UTC
- Number of Tokens Unlocked: 1.55 million DYDX
- Current Circulating Supply: 267 million DYDX
io.net ($IO)
- Unlock Date: July 11, 12:00 PM UTC
- Number of Tokens Unlocked: 2.11 million IO
- Current Circulating Supply: 95 million IO
>>> Read more:
