Token unlocks are pivotal events in the cryptocurrency market, significantly impacting a token’s supply and demand dynamics. These scheduled releases, often outlined in a project’s roadmap, distribute tokens to early investors and team members, or upon reaching specific project milestones. As new tokens enter the market, investors and stakeholders keenly observe these events for potential market fluctuations.
Understanding the timing and scale of these token releases can provide valuable insights into potential market trends and investment opportunities. By closely monitoring these events, one can better anticipate market movements and identify strategic investment opportunities.
Upcoming Token Unlocks
RNDR
According to data from CoinMarketCap, the price of Render (RNDR) was $8.04 at the time of publication, and its total volume (24h) was $152,025,840. The coin’s market capitalization was $3,125,021,228, and has a circulating supply of 388,646,672 RNDR. It has unlocked 47.8% of the tokens, which is 307,927,776 RNDR and is going to unlock an additional 0.20% of tokens worth $6.11 million on 16 June 2024.
The coin’s Relative Strength Index (RSI) is 37.18, which indicates neutral momentum. The Moving Average Convergence Divergence (MACD) shows a bearish trend. In seven days, the coin’s price has decreased by 15.40.
ARB
At the time of writing, the price of Arbitrum (ARB) was $0.9295 and its total volume based on the last 24 hours was $233,471,874. Its market capitalization is $2,692,308,533 and has a circulating supply of 2,896,440,329 ARB. The coins has unlocked 29.49% of the tokens, which is 2,949,324,269.20 ARB, and is about to unlock an additional 3.20% of tokens worth $86.06m on 16 June 2024.
The coin’s RSI is 36.18, indicating neutral momentum, and MACD displays a bearish trend. The coin’s price has decreased by 6.55% in the last seven days.
Binance Announces Upcoming Delisting of Selected Spot Trading PairsAPE
At press time, APECoin (APE) is trading at $1.05, and its 24-hour volume has reached $44,532,192. The coin’s market capitalization has reached $44,532,192, and its circulation supply is 604,895,833 APE. About 66.7% of the tokens are currently unlocked, and another 2.48% of tokens worth 16.38m will be unlocked on 17 June 2024.
The Relative Strength Index (RSI) is at 36.34, meaning the momentum is neutral. The Moving Average Convergence Divergence (MACD) shows a bearish trend, and the coin’s price has decreased by 10.55% in seven days.
MANTA
At the time of writing, the Manta Network price (MANTA) was $1.27, and its 24h volume was $51,419,625. It has a market cap of over $414,095,622 and a circulating supply of 325,319,791 MANTA. Currently 32.58% of the tokens were unlocked which is 325,825,264.54 MANTA and an additional 2.05% of the tokens worth $9.20m will be unlocked on 18 June 2024.
The RSI of MANTA is at 31.40, which is just above the oversold momentum, and MACD displays a bearish signal. Over the past seven days, the coin’s price has decreased by 20.26%.
PENDLE
At the moment, Pendle’s price is at $5.20. The coin’s market cap is at $803,177,745 and has a circulating supply of 154,373,080 PENDLE. Currently, the number of unlocked tokens is about 273,011,525.39 PENDLE, and the maximum supply is infinite. Furthermore, 0.02% of the tokens worth $187.91K will be unlocked on 19 June 2024.
The RSI of the Pendle is at 44.72, which shows neutral momentum, and the MACD signals a possible bearish momentum. The coin’s price over the past week has decreased by 5.87%
PEPE Coin: Price Declines and Recovery Prospects in Cryptocurrency Market1INCH
The price of the 1inch Network coin is at 0.4111 and has a 24h volume of $27,859,661. Its market capitalization is about $514,589,630 and has a circulation of 1,251,717,077 1INCH. The coin has already unlocked 85.6%, which is about 1,285,227,386.37 1INCH, and is about to unlock <0.01% worth $6.20k on 19 June 2024.
The Relative Strength Index (RSI) of the coin is at 42.43, showing a neutral momentum, and its Moving Average Convergence Divergence (MACD) points to a bearish trend. Over the past week, the coin’s price has decreased by 13.46%.
Conclusion
Staying informed about token unlocks and conducting thorough research on market indicators like RSI and MACD can provide investors valuable insights. By understanding these factors, investors can better predict possible price changes, manage risks, and make strategic decisions. Integrating knowledge of token unlocks with technical analysis helps traders navigate market trends, manage risks, and make informed decisions about their investments.
