Bittime – There are 3 unlock tokens in the first week of June 2024, namely LQTY, GAL, and HFT. The following are details about when the tokens will be unlocked, starting from the schedule, number of tokens released, and circulation.
1. Liquity (LQTY)
Source: Token Unlock
- Release date: June 5
- Total tokens released: 657.350 LQTY
- Current token circulation: 96.08 million LQTY
Liquity (LQTY) is a decentralized lending protocol that allows users to take out Ethereum-denominated loans at 0% interest.
The protocol operates using a stablecoin, LUSD, which is pegged to the US dollar. LQTY token is the native utility token of the Liquity platform, used for governance and staking rewards.
The next LQTY token unlock is scheduled for June 5. A total of 657,350 tokens will be released, and allocated to the project team and advisors.
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2. Galxe (GAL)
Source: Token Unlock
- Release date: June 5
- Number of tokens released: 2.03 million GAL
- Current token circulation: 115.5 million GAL
Galxe (GAL) is a Web3 credential data network that enables developers to leverage digital credentials. This network allows crypto projects to reward and attract their users through various credential-based activities.
The GAL token is the native utility token of the Galxe platform, used for governance, staking, and accessing premium features.
On June 5, the project will release and distribute over 2 million GAL tokens to the Galxe Foundation, team, and community.
3. Hashflow (HFT)
Source: Token Unlock
- Release date: June 7
- Number of tokens released: 13.62 million HFT
- Current token circulation: 406 million HFT
Hashflow is a decentralized exchange (DEX) designed to facilitate cross-chain trading and easy exchange of assets without slippage (the price difference between the buy price and the sell price).
This DEX uses advanced market-making techniques to generate efficient and accurate prices. The HFT token is the native utility token of the Hashflow platform, used for governance, staking, and rewarding users.
On June 7, the project will increase the number of tokens in circulation by 13.62 million HFT. According to TokenUnlocks, early investors and the core team will receive 7.63 million tokens. The remainder will be used for community rewards and ecosystem development.
Also Read: Notcoin (NOT) Soars, Surpassing Popular Meme Coin!
Other Tokens that Can Be Unlocked
Other token unlocks next week include Pendle (PENDLE), Euler (EUL), and 1inch (1INCH), with a total value exceeding $12 million. Although many consider token unlocks to be a negative event, a well-planned schedule can strengthen the long-term viability of a project.
Unlocking tokens aligned with milestones and development progress will motivate team members, encourage community engagement, and spur ecosystem growth.
Impact of Unlock Tokens and Strategies for Dealing with It
While unlocking tokens may trigger concerns about falling prices, the impact is not always negative. In fact, a well-planned token unlock can be a positive indicator for the future of a crypto project.
Here are some things to consider:
1. Release Schedule
A credible crypto project will have a detailed and transparent token unlock schedule. This schedule shows token allocations to teams, advisors, early investors, and community programs. Investors can assess whether the schedule is reasonable and whether unlocking tokens is gradual or all at once.
Generally, gradual token unlocking reduces selling pressure and negative impact on price.
2. Token Utility
Projects with tokens that have real utility, such as governance, staking, or access to premium features, tend to have less impact from token unlocks. If the token serves an important function in the project's ecosystem, investors may worry less about unlocking the token and focus more on the long-term value of the project.
3. Ecosystem Health
Investors should research other factors beyond unlock tokens to assess the overall health of a project's ecosystem. This includes developer activity, user adoption, strategic partnerships, and community sentiment. Projects with a strong and growing ecosystem will likely absorb unlock tokens better.
Also Read How To Buy Crypto:
Strategy for Facing Unlock Tokens
Although unlocking tokens can trigger price fluctuations, investors can take several steps to mitigate the risks, such as:
1. Diversification
Avoid putting all your eggs in one basket. Diversify your portfolio with different crypto assets to reduce the risks associated with unlocking tokens on certain projects.
2. Active Trading
Experienced investors may use active trading strategies to take advantage of price fluctuations around token unlock events. This requires a strong understanding of technical analysis and strict risk management.
3. Long Term Investment
Investors who focus on the long term may not need to worry too much about short-term price fluctuations caused by unlocking tokens. Focus on the fundamentals of the project and hold your investment until the project reaches its long-term goals.
By understanding the impact of unlocking tokens and implementing the right strategies, investors can adapt and potentially make profits in the dynamic world of crypto.
How to Buy Crypto on Bittime
You can buy and sell crypto assets easily and safely 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. Also, please ensure you have enough 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 fluctuations in crypto asset exchange rates.
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