- Popular altcoins will unlock their tokens next week.
- The cryptocurrency market is generally showing horizontal price movements.
We have compiled the Token Unlock dates that investors should pay attention to next week. Which coins will be affected? Will prices drop?
Token Unlock Events for April 17-23
Token unlock usually requires users to unlock or release locked tokens for a certain period of time in order to use them.
For example, some cryptocurrency wallets or smart contracts may lock users’ tokens for a certain period of time, and users can perform the token unlock process to release their tokens after this period. The token unlock process is usually subject to conditions such as user authentication, expiration of a certain period, or fulfillment of a certain condition.
In this context, we have compiled the major token unlock events that will take place between April 17-23;
April 17
- The Graph (GRT) – The lock of more than 72.5 million GRT tokens worth $11.9 million will be released. The GRT coin price is currently trading at $0.16 with a 1.3% decrease.
- Axie Infinity (AXS) – The lock of more than 3.4 million AXS tokens worth $31.4 million will be released. The AXS coin price is currently trading at $9.21 with a 2.1% increase.
- ApeCoin (APE) – The lock of more than 15.6 million APE tokens worth $70.1 million will be released. The APE coin price is currently trading at $4.48 with a 1.2% decrease.
April 18
- Lido DAO (LDO) – The lock of more than 7.9 million LDO tokens worth $20 million will be released. The LDO coin price is currently trading at $2.52 with a 0.9% increase.
April 20
- THORChain (RUNE) – The lock of more than 10 million RUNE tokens worth $16.7 million will be released. The RUNE coin price is currently trading at $1.66 with a 0.2% decrease.
April 22
- Space ID (ID) – The lock of more than 18.5 million ID tokens worth $16.3 million will be released. The ID coin price is currently trading at $0.88 with a 6.6% increase.
April 23
- Cartesi (CTSI) – The lock of more than 50.9 million CTSI tokens worth $12 million will be released. The CTSI coin price is currently trading at $0.23 with a 34% increase.
Will Token Unlock Lower Prices?
In general, unlocking tokens can have different effects on prices depending on various factors. If unlocking involves a large number of tokens released into the market, it can increase token supply and cause prices to drop if demand does not increase proportionally.
On the other hand, if unlocking is expected and well-known in the market, the impact may already be priced in and have little effect on the token’s value. Other factors that can affect the impact of a token unlock include the overall health and performance of the project, investor sensitivity, and broader market conditions.
For example, if the project is doing well and gaining popularity, the impact of the token unlock may be limited. On the other hand, if the project is facing challenges or experiencing a decline, unlocking tokens may have a more significant impact on the token price.
