Weekly Token Unlock Preview: 5 projects will be unlocked, and HFT and GAL will be unlocked in large amounts

Next week, there are 5 projects in the crypto market that are worth keeping an eye on for token unlocking.

Among them HFT and GAL will receive large unlocks at the multi-million dollar level. In addition, LQTY, EUL, and 1INCH will also be unlocked in small amounts.

The specific unlocking situation is as follows:

Large unlocks

Hashflow

Project Official Website:

Official Twitter:

Unlocked this time: 13.62 million

The amount unlocked this time: (approx.) $4.52 million

Hashflow is a decentralized exchange designed to enable zero-slippage and MEV-protected trading. Hashflow is currently available on ETH Place, BNB Chain. Used on multiple chains such as Polygon, Avalanche, Arbitrum and Optimism, the introduction of professional market makers to manage liquidity provides better trading prices with less slippage.

As far as this unlock is concerned, this unlock is large-scale. However, if you refer to historical data, this unlock is far inferior to the last unlock. At the beginning of November of this year, HFT just completed its biggest unlock in history. The last vesting was also the largest single unlock in the lifetime of the token.

From the perspective of unlocking history, the previous HFT tokens have been unlocked in an orderly and linear manner, and each month will usher in an unlock of a similar size. So far, there are still 58% of the total supply of tokens waiting to be unlocked.

In terms of circulation, the tokens unlocked this time account for 5.59% of the current circulation. This unlock will be attributed to the core team, community rewards, ecological development, and early investors. Among them, ecological development and early investors received the largest number of unlocked ghostwriting, which received 5.58 million and 5.21 million tokens respectively, accounting for 4.42% of the current circulation.

If you compare it horizontally with other items, the unlocking scale of HFT is quite large, but if you compare it with its unlocking history, HFT This unlock does not seem to be significant. How will this unlock affect the market direction of HFT? Investors should capture trading opportunities or avoid related risks in a timely manner.

Galxe

Project Official Website:

Official Twitter:

Number unlocked this time: 2.03 million

Amount unlocked this time: (approx.) $3.1 million

Galxe is a platform that helps Web3 projects build community. Galxe can help the project team acquire users through the reward program, and users can obtain rewards from the project team by completing the specified tasks. In addition, Galxe also provides digital credentials for users and project parties. The project aims to build an open and collaborative credential data network to help Web3 developers leverage credential data to build better products and more engaging communities. Galxe also has products such as solutions, multi-chain identity Galxe ID, and more.

On the 1st of this month, Galxe announced the launch of a mobile app that can be downloaded on Android and TestFlight. The Galxe mobile app supports exploring new Web3 projects, managing the Galxe ID Profile, participating and contributing, claiming rewards, and more. In addition, the Galxe app supports WalletConnect and all EVM chains, and also allows for social logins with X and Discord accounts.

The GAL token is the payment and governance token of the Galxe ecosystem. The amount unlocked in this GAL accounts for 2.26% of the circulating supply.

According to the GAL tokenomics, the unlocked tokens will belong to the Foundation (1.03 million), the team (410,000), and the community (580,000). Together, the Foundation’s and team’s tokens account for 1.6% of the current circulating supply.

Currently, 52% of the total supply of GAL is still locked, GAL has a circulating market capitalization of about $134 million and an FDV of about $306 million.

Despite the large number of tokens unlocked this time, there is no significant difference between this unlock and previous unlocks based on historical data. And the number of unlocks this time is significantly lower than the last unlock that took place in early November. Odaily reminds users that, despite this, it is important to be aware of market volatility, even to capture trading opportunities or prevent risks.

Regular unlocking

Next week, there aren’t many well-known projects that will have unlocking events. In addition to Hashflow and Galxe, only Liquity, Euler, and 1inch will still receive token unlocks. Moreover, the unlocking volume of these three items is less than 1% of the circulating supply. 1inch is maintaining the previous tradition of weekly “micro” unlocks, and will carry out ultra-small unlocks of less than $10,000.

Regarding the impact of token unlocking on the market, please refer to a number of articles previously published by Odaily Planet Daily:

How Does Token Unlocking Affect Price: Big Data Analysis Based on 5000 Projects

“On the Market Effect of Token Unlocking: A Case Study of AXS, SAND, and DYDX”

Token Unlocks Report: What Will Be the Impact of Crypto Project Unlocks in 2023?