This week, several blockchain projects are engaging in important token unlocks, according to data reported today by market analyst CryptoDep. In the virtual currency landscape, token unlock is one of the significant events that draws the attention of traders and market observers. This process refers to the release of a certain quantity of coins that were, in the past, locked away from the public market. These coins are often locked by early investors, project teams, market makers, or other participants. Token unlock plays a vital role in adjusting market dynamics and the valuation of cryptocurrency platforms. Following these events is therefore crucial for people who are active in the crypto landscape.
9 Crypto Token Unlocks To Watch This Week
Sonic (S)
At the top of the list is Sonic (S). The Layer-1 blockchain network scheduled to unlock significant amounts of tokens tomorrow, Tuesday, September 9. According to the data, the project will release 150 million S tokens worth $46.3 million, equivalent to 4.66% of the total supply.
Movement (MOVE)
Second on the list is Movement (MOVE). The Layer-2 blockchain solution also planned for an important token unlock tomorrow. The platform will release a total of 50 million MOVE tokens (0.50% of total supply) into on-chain circulation, amounting to $6.03 million.
Moca Network (MOCA)
Moca Network (MOCA), a decentralized identity network owned by Web3 gaming firm Animoca Brands, plans to conduct its upcoming token release this Thursday, September 11. The decentralized project will unlock massive 205 million MOCA tokens (2.31% of total supply) valued at $14 million.
Io.net (IO)
Io.net (IO), a decentralized computing network, also scheduled for a vital token release this Thursday, September 11. During that day, the DePIN project will unlock 13.3 million IO tokens, which are equivalent to 1.66% of the circulating supply, worth $7.13 million.
Aptos (APT)
Fifth on the list is Aptos (APT). The Layer-1 blockchain platform intends to exercise a crucial token unlock event this Friday, September 12. The project will release 11.3 million APT tokens (0.96% of total supply) on this day, equivalent to $49.3 million.
Other Top Projects and Why Unlock Tokens Is Important For Investors
Other blockchain projects preparing to unlock their coins this week include PEAQ, BB, STRK, and ARB.
Peaq (PEAQ) will unlock 84.8 million tokens (2% of total supply) valued at $5.66 million this Friday, September 12. BounceBit (BB)’s upcoming unlock is on Saturday, September 13, when it will release 44.7 million tokens to the market. StarkNet will release 127 million STRK tokens on September 15, while Arbitrum will unlock 92.6 million ARB tokens on September 16.
As mentioned above, coin releases are significant events as they allow virtual currency projects to manage the supply of their coins over time to help prevent a sudden decrease in supply that could trigger unusual price movements. This periodic activity assists in maintaining the asset’s market value and bolsters user enthusiasm.
Also, by releasing coins, virtual asset platforms can reward team members and traders to continue engaging with the platform over the long term. In other words, token unlocking is a crucial activity for managing a crypto platform’s supply. It is a positive indicator of project progress, assisting in attracting new investors.
This event not only impacts market price and stability but also helps to develop trust and attract investors. For investors, projects engaging in token unlocking are ones with growth potential. By participating in token releases, these projects focus on long-term development, not short-term gains. They are platforms that investors should be targeting in their investment journey.
Source: https://blockchainreporter.net/crypto-braces-for-197-27-token-unlock-this-week-s-move-moca-io-apt-others-set-for-release/
