Token Unlocks of the This Week

As the cryptocurrency market continues to evolve, any new changes in the market conditions might create huge ripples across the industry. Token unlocks are a major event that can impact the supply and demand of cryptocurrencies. Investors and stakeholders should observe these events for possible market fluctuations. By understanding the timing and scale of these token releases, one can better anticipate market movements and identify strategic investment opportunities.

Upcoming Token Unlocks

GALA

According to CoinMarketCap, the price of Gala was $0.025 at the time of publication and was up by 7% in the last 24 hours. The coin had a 7-day increase of 17.08%, volume (24h) of $83,726,374, and a market cap of $837,469,307. GALA has a circulation supply of 32,900,295,317 GALA and a total supply of 34,924,455,453 GALA, which accounts for 21.8% of the tokens. On 21 July 2024, the coin will unlock an additional <0.01% of tokens worth $50.30k.

The Relative Strength Index is at 49.84, pointing toward a neutral momentum, and the Moving Average Convergence Divergence (MACD) line is trading above the signal line, indicating a bullish trend.

ENA

Ethena has a price of $0.4975 at press time and a market cap of $810,236,512. It has a 1-day increase of 7.57%, a 7-day rise of 25.40%, and a volume (24h) of $84,801,270. ENA has unlocked 8.6%, which is about 1,297,541,769.14 ENA, and has a circulation supply of 1,710,937,500 ENA. The coin will unlock an additional 0.87% worth $7.05m on 21 July 2024.

The RSI of ENA is at 50.58, indicating neither overbought nor oversold but neutral momentum and the MACD line is above the signal line, suggesting a bullish trend.

WLD

At the time of writing, the price of Worldcoin is $2.59, with a 24-hour increase of 0.73% and a volume of $376,326,636. It has a market cap of $727,202,011 and a circulation supply of 279,150,790 WLD. WLD has already unlocked 1,654,167,658.10 WLD, which is about 16.5% of its total supply, and is expected to unlock an additional token of about 1.91% worth $13.56m on 24 July 2024.

The RSI of the coin is at 52.67, suggesting neutral momentum, and the MACD line is trading above the signal, line, which indicates a bullish trend.

PENDLE

At press time, Pendle is trading at $4.61 and has a market cap of $720,095,284. The coin has experienced a 1-day rise of 1.86% and a 7-day increase of 20.13%. It has a volume of $48,144,956 and a circulating supply of 156,139,243 PENDLE. PENDLE has unlocked 274,235,498.00 PENDLE and is about to unlock an additional 0.02% of tokens worth $160.71k on 24 July 2024.

PENDLE’s RSI is 52.89, which indicates neutral momentum. The MACD line is trading above the signal line, signaling a bullish trend.

SUI

At the time of publication, SUI was trading at $0.8693 and had a 24-hour volume of $156,191,426. It has a market cap of $2,171,954,025, a circulation supply of 2,512,208,504 SUI, and a 7-day increase of 14.02%. Sui has already unlocked 2,507,441,626.14 SUI, which is about 25.07% of its total supply. On 25 July 2024, it will unlock 0.03% of tokens worth $535.94k. The RSI of SUI is at 50.70, suggesting neutral momentum, and the MACD is pointing towards a possible bullish trend.

ARB

Arbitrum’s price was $0.7736 at press time, and it has increased by 10.27% over the last seven days. The coin’s 24-hour volume is $2,581,575,908, and its market cap is $2,581,575,908, which has decreased by 5.05%. ARB has a circulation of 3,339,278,542 ARB and has unlocked 31.51% of the token supply. The coin will unlock 0.01% of supply worth $363.13k on 25 July 2024.

The Relative Strength Index is at 51.29, which represents a neutral momentum and is neither oversold nor overbought. The Moving Average Convergence Divergence has crossed the signal line from the bottom to above the line, suggesting a bullish trend.

RON

RON is trading at $2.30, with a 1-day increase of 3.29% at the time of writing. The coin has a circulation of 336,649,177 RON and a market cap of $772,257,345. Its volume (24h) has decreased 39.82% to $8,433,377. RON has unlocked 54.30% of the token supply. On 27 July 2024, RON will unlock an extra 0.12% of tokens worth $925.82k. The RSI has a value of 56.46, indicating neutral momentum, and the MACD suggests a bullish trend.

Conclusion

The upcoming token unlocks for several cryptocurrencies present a mixed picture. While GALA, ENA, WLD, PENDLE, SUI, ARB, and RON are all poised for additional token releases, the impact on their respective prices will depend on various factors. Market sentiment, overall trading volumes, and the specific percentage of tokens being unlocked are all contributing factors. Integrating knowledge of token unlocks with technical analysis helps traders navigate market trends, manage risks, and make informed decisions about their investments.