- This week sees significant token unlock events across several altcoins, marking a crucial moment for the crypto market.
- According to data from Token Unlocks, between September 2 and September 8, six altcoin projects, including Mode (MODE) and Immutable (IMX), will have over $70 million worth of tokens unlocked.
- Notably, large unlock events can lead to downward pressure on prices, particularly when more than 1% of circulating supply is released.
This article explores the upcoming token unlock events for six altcoins, their implications for the crypto market, and suggests strategies for investors.
Major Token Unlock Events: A Closer Look
Token unlock events can significantly influence market dynamics, particularly for altcoins. As outlined by the latest Token Unlocks report, six major projects are set to release a combined total exceeding $70 million this week. This unlock could introduce increased volatility into the market, urging investors to consider the ramifications of sudden availability of tokens.
The Impact of Mode and Taiko Unlocks
Among the upcoming unlocks, Mode (MODE) and Taiko (TAIKO) are poised to attract considerable attention. Mode is expected to unlock 500 million tokens valued at approximately $6 million, which corresponds to a staggering 38% of its circulating supply. Similarly, Taiko is set to release 12 million tokens worth about $17 million, representing 19.09% of its total circulating supply. These substantial percentages raise critical questions regarding price stability and market reactions as these assets become available for trading.
Detailed Schedule of Upcoming Token Unlock Events
The list of altcoins expecting unlock events is as follows:
- dYdX (DYDX): On September 3 at 04:00 UTC, 1.5 million tokens worth $1.3 million will be unlocked, equivalent to 0.54% of the circulating supply.
- Artificial Superintelligence Alliance (FET): Starting September 5 at 12:00 UTC, 972,000 tokens valued at $1.2 million will be released, covering 0.05% of the circulating supply.
- Taiko (TAIKO): Tokens worth $17 million will be unlocked on September 5 at 12:00 UTC, iterating a release of 12 million tokens that accounts for 19.09% of its circulating supply.
- Immutable (IMX): A total of 32 million tokens valued at around $40 million will be unlocked on September 5 at 13:00 UTC, which is 2.89% of its total supply.
- Mode (MODE): On September 6 at 12:00 UTC, 500 million tokens valued at $6 million will be unlocked, a staggering 38% of its circulating supply.
- Hashflow (HFT): Finally, on September 7 at 10:00 UTC, 13 million tokens worth $1 million will be released, accounting for 3.87% of the circulating supply.
Conclusion
This week’s token unlock events present both opportunities and risks for investors in the altcoin space. With substantial amounts of tokens hitting the market, it’s essential for stakeholders to stay informed and responsive. The potential for price volatility may compel investors to rethink their strategies as the dynamics of supply and demand shift in real-time. Awareness of these developments can aid in making informed investment decisions moving forward.
