Big Unlock at the End of May! There are YGG, PRIME, 1INCH, and DYDX releasing lots of tokens!

Bittime – In the last week of May, the cryptocurrency market will be marked by a series of massive token unlocks from various well-known projects. There are YGG, PRIME, 1INCH, DYDX, and others.

The following is a more detailed explanation of unlocking this token.

List of Unlocked Tokens

According to data from Token Unlocks, several tokens that will experience significant unlocking include:

• Nym (NYM): Approximately 25 million NYM tokens will be released on May 27, equivalent to 3.26% of the circulating supply. The unlock value is estimated at $4.05 million.
• Yield Guild Games (YGG): Nearly 16.69 million YGG tokens will be released on May 27, representing 4.49% of the circulating supply and with an unlock value of approximately $16.94 million.
• SingularityNET (AGIX): The release of approximately 8.71 million AGIX tokens is scheduled for May 28, equivalent to 0.68% of the circulating supply and with an unlock value of approximately $8.14 million.
• Echelon Prime (PRIME): Approximately 1.66 million PRIME tokens will be released on May 31, representing 4.23% of the circulating supply and with an unlock value of approximately $31.66 million.
• Optimism (OP): Nearly 31.34 million OP tokens will be released on May 31, equivalent to 2.88% of the circulating supply and with an unlock value of approximately $79.61 million.
• Manta Network (MANTA): Approximately 1.87 million MANTA tokens will be released on June 1, equivalent to 0.74% of the circulating supply with an unlock value of approximately $3.19 million.
• 1inch (1INCH): Nearly 98.74 million 1INCH tokens will be released on June 1, representing 8.52% of the circulating supply and with an unlock value of approximately $41.32 million.
• dYdX (DYDX): A massive release of 33.33 million DYDX tokens is scheduled for June 1, equivalent to 11.91% of the circulating supply and with an unlock value of approximately $67 million.
• Sui (SUI): Approximately 65.08 million SUI tokens will be released on June 1, representing 2.78% of the circulating supply and with an unlock value of approximately $68.07 million.
• ZetaChain (ZETA): Nearly 5.29 million ZETA tokens will be released on June 1, equivalent to 1.99% of the circulating supply and with an unlock value of approximately $7.99 million.
• Acala (ACA): Approximately 27.43 million ACA tokens will be released on June 1, representing 2.85% of the circulating supply and with an unlock value of approximately $2.77 million.
• Ethena (ENA): The release of 53.60 million ENA tokens is scheduled for June 2, equivalent to 3.62% of the circulating supply and with an unlock value of approximately $49.33 million.

This wave of token unlocks can have a significant impact on the price of the token in question. Investors need to pay attention to these events and consider their investment strategies carefully.

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Important Notes about Unlocking Crypto Tokens

Here are some things to remember during the token unlock event.

• Volatility: The release of large amounts of tokens can cause high price volatility.
• Selling: Investors holding tokens that are about to be released may be tempted to sell them, thereby depressing the price.
• Purchase opportunity: The release of the token may also present a purchase opportunity for investors who believe in the project.

It is important to do your research before making an investment decision. Understand the risks involved and consider an investment strategy that suits your risk profile.

Potential Impact and Strategy for Facing the Token Unlock Wave

As previously mentioned, a large wave of token unlocks can have a significant impact on the price of the associated token. Here are some possible impacts to consider:

1. Price Drop

If a large number of new tokens circulate in the market, this can lead to selling pressure and a decline in token prices. Especially for tokens that have a relatively small supply, the impact of price drops can be more significant.

2. Lack of Investor Confidence

Investors may become less confident in the project if they see a large release of tokens, especially if the purpose of the unlock is not well communicated.

3. Increased Liquidity

The release of tokens can increase token liquidity in the market, making it easier for investors to buy and sell these tokens. This increase in liquidity can benefit the project in the long term.

4. Strengthening Fundamentals

If the project team uses the funds obtained from unlocking tokens for project development or strategic acquisitions, this can have a positive impact on the fundamentals of the project and drive the token price up in the future.

Also Read How To Buy Crypto:

Strategy for Facing the Token Unlock Wave

For investors, it is important to have the right strategy in facing the token unlock wave. Here are some tips to consider:

• Do your research: Learn the details of the token unlock, such as the number of tokens to be released, the percentage of the total circulating supply, and the purpose of the unlock.
• Project fundamental analysis: Don't just focus on token unlock events. Perform a fundamental analysis of the project to assess its long-term potential.
• Portfolio diversification: Don't concentrate too much on just one project. Diversify your portfolio by investing in various crypto assets.
• Set stop-loss order: Set a stop-loss order to limit potential losses if the token price drops after unlock.
• Be patient and invest long term: The crypto market is known for its high volatility. Don't be easily influenced by short-term price fluctuations. Focus on long-term investments and projects that have strong fundamentals.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely through 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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DISCLAIMER: This article is informational and is not an offer or solicitation 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.