Token unlocks are pivotal events in the cryptocurrency market, significantly impacting a token’s supply and demand dynamics. These scheduled releases, typically outlined in a project’s roadmap, involve the distribution of locked tokens to early investors, team members or upon reaching specific project milestones. As new tokens enter the market, investors and stakeholders closely monitor these events for potential market fluctuations.
Understanding the timing and scale of these token releases provides valuable insights into potential market trends and strategic investment opportunities. By keeping a close eye on these events, one can better anticipate market movements and identify promising investment prospects.
Upcoming Token Unlocks
ENA
At the time of publication, the price of the coin Ethena (ENA) was $0.5947. ENA has a market cap of $904,087,685, and the 24-hour trading volume has decreased by 33.49%, reaching $69,133,066. It has a circulation supply of 1,520,312,500 ENA. So far, the platform has unlocked 1,237,983,272.14 ENA, which is about 8.2% of the coin’s entire supply. Ethena is about to unlock 0.87% of the tokens, worth $9.10m, on 23 June 2024.
The RSI of the coin is 32.30, which is just above the oversold limit, and its MACD shows a bearish trend. In the course of the last seven days, the price of the coin has decreased by 16.69%.
Major Gainers of This Week: PENDLE, ENS, MKR, and FETPENDLE
At the time of writing, Pendle’s (PENDLE) price was $6.13 and had a market cap of $949,544,915. The coin’s 24-hour trading volume has decreased by 25.11% and is at $68,040,623. PENDLE has a circulation supply of 154,895,720 PENDLE and has unlocked 273,269,285.19 PENDLE. The supply of Pendle is infinite and is about to unlock 0.02% of tokens worth $223.37k on 26 June 2024.
The coin’s Relative Strength Index is 57.61, indicating neutral momentum, and the Moving Average Convergence Divergence displays a bullish trend.
1INCH
The price of 1inch Network at press time was $0.4042, and its 24-hour trading volume decreased by 44.64% to $24,006,295. It has a market cap of $504,581,136 and a circulation supply of 1,251,770,726 1INCH. The 1inch network has unlocked 1,285,242,386.37, which is around 85.6% of the token supply, and is about to unlock <0.01% of tokens, worth only about $27.3k on 27 June 2024.
1INCH has an RSI of 43.43, indicating a neutral momentum, meaning it is neither oversold nor overbought. Furthermore, its MACD signals a bearish trend, and the 7-day market price has decreased by over 1.94%.
AGIX
At the time of writing, the SingularityNET price was $0.618, and it had decreased by 4.68% in one day. AGIX’s market cap was $837,441,643, and its 24-hour volume stood at $73,365,118, decreasing by $40.73. The coin has a circulation of 1,287,283,744 AGIX and has unlocked 1,428,336,415.10 AGIX, accounting for 71.4% of the supply. It is about to unlock 0.67% of tokens worth $5.61m by 28 June 2024.
AGIX has an RSI of 41.21, and the MACD line is above the signal line, indicating the momentum is currently neutral and the start of a bullish trend.
Conclusion
Staying informed about token unlocks and conducting thorough research on market indicators like RSI and MACD can provide investors with valuable insights. By staying informed about these factors, investors can better predict possible price changes, manage risks, and make strategic decisions. By integrating these insights, investors can make decisions about investing in a crypto project.
