Attention Next Week for DYDX Coin and 10th: The Locks Are Opening!

In a recent tweet, Token Unlocks shed light on upcoming token unlocking events scheduled between Feb. 27 and March 1, with around eight altcoins set to launch $248.19 million worth of cryptocurrency tokens. Meanwhile, these events include notable projects such as Yield Guild Games (YGG), SingularityNET (AGIX), Sui, Optimism (OP), Prime, Manta Network, dYdX coin, and ZetaChain. However, the planned unlocks range from 0.35% to 5.57% of the circulating supply, potentially affecting the market price of these altcoins. Here are the details…

Token Unlocks releases timeline for DYDX coin and others

Token unlocks are often considered bearish events in the crypto market, as they increase selling pressure on altcoins. Next week’s schedule features key events:

• Yield Guild Games (YGG): On Feb. 27, 16.69 million YGG tokens worth $8.62 million will be unlocked, accounting for 5.57% of the circulating supply.
• SingularityNET (AGIX): On February 28, 8.97 million AGIX tokens worth $6.25 million will be unlocked, representing 0.71% of the circulating supply.
• Nym (NYM): On February 27, 25 million NYM worth $5.09 million will be unlocked.
• Sui: On February 29, 4 million SUI tokens worth $6.96 million will be unlocked (0.34% of the circulating supply).
• Optimism (OP): On Feb. 29, 24.16 million OP tokens worth $88.42 million are expected to be unlocked (2.52% of the circulating supply)
• Echelon Prime (PRIME): On Feb. 29, 1.66 million PRIME tokens worth $20.56 million will enter the market, accounting for 4.89% of the circulating supply.
• Euler (EUL): will launch 1.86 92k tokens worth $6.20 million on February 29. This marks 0.5 percent of the total supply.
• Manta Network: Up to 1.87 million MANTA tokens worth $6.20 million will be unlocked on March 1 (0.74% of the circulating supply).
• Acala (ACA): On March 1, 27.43 million ACA worth $2.74 million will be unlocked.
• dYdX: On March 1, 33.33 million DYDX tokens worth $98 million were poured (1.09% of the circulating supply).
• ZetaChain: On March 1, it sold 5.29 million ZETA tokens worth $13.18 million, adding 2.24% of the circulating supply to the market.

🔓 > Weekly Cliff Unlocks : 26 FEB – 3 MAR 24 🔓
🔥 > $315 MILLION 🔥

🌟 > Highlights: $DYDX, $OP, $SUI, $PRIME, $ZETA 🌟 $DYDX (11.09%) – $98m OP (2.52%) – $88.42m SUI (3.31%) – $65.26m PRIME (4.9%) – $20.56m$ZETA (2.24%) – $13.18m

( % of cir. supply)

More unlocks 👇🏻 pic.twitter.com/c9shpYXaZr

— Token Unlocks (@Token_Unlocks) February 23, 2024

What will be the market reaction when the locks are opened?

Token unlocks are often seen as events that could have a bearish impact on cryptocurrency prices. The size of this effect is stronger if cryptocurrencies unlock more than 3% of its circulating supply, which often leads to price corrections. However, traders need to keep a close eye on these events because they can trigger significant price fluctuations. Proactive and well-prepared investors can find opportunities to make profitable trades.

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