Massive Token Unlock Will Affect Crypto Market This Week

Bittime - As of this week, the crypto market needs to be wary of the schedule for unlocking or releasing large amounts of tokens from several projects. According to Token Unlocks data reported by Shenzhen TechFlow, the total value of tokens to be released is estimated at US$164 million (around Rp. 2.3 trillion). The release of these tokens has the potential to affect the price of the associated crypto asset so it is important for investors to pay close attention to this information before making an investment decision.

Details of the Unlock or Token Release Schedule

Following are the details of the schedule for releasing large amounts of tokens:

1. Acala (ACA): On March 25 2024 at 08.00 WIB, 4.66 million ACA tokens will be released. The total value of the released tokens is estimated at US$899,000 (around IDR 12.7 billion), which represents 0.48% of the total circulating supply of ACA.
2. Yield Guild Games (YGG): A total of 16.69 million YGG tokens are scheduled to be released on March 27, 2024 at 22.00 WIB. The total value of the tokens released is estimated at US$16.89 million (around IDR 240 billion), which represents 5.39% of the total YGG supply in circulation.
3. Singularity NET (AGIX): The release of 8.84 million AGIX tokens is scheduled to occur on March 28, 2024 at 08.00 WIB. The total value of the tokens released is estimated at US$9.26 million (around IDR 131 billion), which represents 0.69% of the total supply of AGIX in circulation.
4. Optimism (OP): The Optimism project is scheduled to release 24.16 million OP tokens on March 29 2024 at 12.00 WIB. The total value of the tokens released is estimated at US$84.32 million (around IDR 1.2 trillion), which represents 2.4% of the total OP supply in circulation.
5. Echelon Prime (PRIME): A total of 1.66 million PRIME tokens will be released on March 31 2024 at 08.00 WIB. The total value of the tokens released is estimated at US$37.53 million (around IDR 531 billion), which represents 4.65% of the total circulating supply of PRIME.
6. Sui (SUI): The Sui Project will release 4 million SUI tokens on March 31 2024 at 08.00 WIB. The total value of the tokens released is estimated at US$6.68 million (around Rp. 95 billion), which represents 0.32% of the total SUI supply in circulation.

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Impact of Token Liberation on Price

Unlocking or releasing large amounts of tokens can have an impact on decreasing the price of the related crypto asset. This is caused by the increase in the supply of tokens circulating on the market. An increase in supply can exceed demand, causing the token price to tend to fall.

However, this impact does not always occur. Several other factors can also influence price movements, such as market sentiment, project-related news, and token utility. If the project has strong fundamentals and good development prospects, then the release of large amounts of tokens may not have a significant impact on the price.

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Tips for Crypto Investors

For crypto investors, it is important to understand the token release schedule before investing in a particular project. By knowing this information, investors can make better decisions and anticipate potential price declines.

Additionally, investors need to conduct fundamental research on crypto projects before investing. Fundamental analysis can help investors assess the long-term prospects of a project and its potential for growth.

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Conclusion

The release of large amounts of tokens is an event that crypto investors need to pay close attention to. Even though it has the potential to cause price reductions, this does not always happen. Investors need to understand the factors that influence price movements and conduct fundamental research before making investment decisions.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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This March, Massive Token Unlock PIXEL, APE, and YGG!

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.