Token unlocks are major events that can impact the supply and demand of cryptocurrencies. These events refer to the scheduled release of locked tokens into the market. By understanding the timing and scale of these releases, investors and stakeholders can better anticipate market movements to identify strategic investment opportunities. This article discusses tokens unlocked from July 29 to August 3.
Upcoming Tokens
ENA
At press time, according to data from CoinMarketCap, the price of ENA was $0.4382, up 0.23% in the last 24 hours. The coin had a market cap of $750,559,655 and a circulation supply of 1,710,937,500 ENA. Its volume (24h) had declined 34.87% to $70,924,039 and had unlocked 1,312,431,394.14 ENA tokens, accounting for 8.75% of the total supply, as per Token Unlocks. On 28 July 2024, ENA will unlock an additional 0.87% of tokens worth $6.52m.
Ethena’s RSI was 43.88, indicating neutral momentum. The MACD line is above the signal line, representing a short-term bullish trend. Furthermore, the coin had a 7-day decline of 5.78%.
OP
Optimism has a price of $1.74 and a 1-day increase of 3.22% at the time of writing. OP has a volume of $224,889,822, a market cap of $1,949,994,500, and a 7-day dip of 6.07%. The circulating supply of the coin is about 1,121,728,540 OP, and it has unlocked 27.37% of tokens, which is about 1,175,330,165.80 OP. It is about to unlock an additional 2.79% of tokens worth $53.91m on July 31, 2024.
The OP’s Relative Strength Index stands at 46.48, which suggests neutral momentum. This means that the coin is neither overbought nor oversold. The Moving Average Convergence Divergence line is above the signal line, pointing to a bullish trend.
Top 5 Game Coins: Building & Booming! Next Target?PENDLE
At the time of publication, the coin had a price of $3.95 and a 24-hour volume of $58,946,045. PENDLE had increased by 9.10% in one day and declined by 14.53% over the last seven days. It had a market cap of $616,751,389 and a circulation supply of 156,867,909 PENDLE. The coin had an infinite amount of supply and will unlock 0.02% of tokens worth $135.84k on 31 July 2024.
PENDLE has an RSI of 42.09, meaning it has neutral momentum. The MACD points to a bearish trend, with the signal line trading above the MACD line.
1INCH
At the time of writing, the 1inch Network price stood at $0.3703, with a single-day increase of 2.36% and a seven-day decline of 12.59%. The coin has a market capitalization of $465,222,004 and a 24-hour volume of $27,367,092. The coin has already unlocked 85.7%, which is about 1,285,703,100.97 1INCH tokens, and is about to unlock an additional fo <0.01% tokens worth $5.56k on 31 July 2024.
1INCH has a Relative Strength Index of 40.23, which indicates neutral momentum. The MACD line is trading below the signal line, suggesting a short-term bearish trend.
MANTA
Manta Network price stands at $0.9732 at press time. The coin has a 1-day increase of 6.95% and a market cap of $363,618,376. The volume (24h) has declined by 24.97% to $20,221,513 and the coin has a circulation supply of 373,589,205 MANTA. It has unlocked 348,196,569.10 MANTA tokens which is about 34.82% of the supply and on 31 July 2024, the coin will unlock an extra 0.50% of tokens worth $1.82m.
The coin has an RSI of 49.44, which means MANTA is in neutral momentum. Additionally, the MACD line is trading above the signal line, indicating a short-term bullish trend.
DYDX
At the time of publication, dYdX had a price of $1.30 and a market capitalization of $786,938,044. The coin has a circulation of 605,962,307 DYDX and a volume of $17,079,315. DYDX has unlocked 56.77% of the coins and is about to unlock 3.65% of tokens worth $10.83m on 01 August 2024. The RSI stands at 43.34, which means it is neither oversold nor overbought and is in neutral momentum. The MACD indicates a bearish momentum, with the signal line trading above the MACD line.
HNT
HNT‘s price was $5.30, up 1.12% in one day and 18.99% in the last seven days at the time of writing. Its trading volume (24h) was $11,930,483, and its market cap was $852,188,432. The coin’s circulating supply was 160,875,442 HNT, and it had unlocked 177,797,913.66 HNT, which accounts for 79.73% of the token supply. On 01 August 2024, HNT will unlock an extra 0.02% of the token worth $217.81k.
Helium has a Relative Strength Index of 73.61, meaning it is in overbought momentum. The Moving Average Convergence Divergence (MACD) line is trading above the signal line, pointing towards a bullish trend.
SUI
Sui‘s price was $0.7807, and its 24-hour volume was $84,811,521 at press time. The coin’s market cap was $1,961,485,362, and its circulation was 2,512,208,504 SUI. Nearly 25.13% of tokens have been unleashed, and another 2.56% of tokens worth $50.15m will be unlocked on August 1, 2024. SUI had an RSI of 46.39, representing neutral momentum, and MACD indicates a short-term bullish momentum.
Top 5 DePIN Tokens, Who’s Primed to Explode?AKT
At the time of writing, Akash Network saw a 1-day increase of 4.74% and had a price of $3.30. Its circulating supply was around 245,916,875 AKT and had a market cap of 245,916,875 AKT. The coin had already unlocked 247,384,420.85 AKT, which is about 63.6% of tokens, and on August 1, 2024, it will unlock an extra 0.03% of tokens worth $231.26k.
Akash Network has a Relative Strength Index of 45.74, which indicates neutral momentum. The Moving Average Convergence Divergence line is below the signal line, which suggests a short-term bearish trend.
W
Wormhole had a price of $0.295 and a 24-hour volume of $27,588,284. It had a 7-day decline of 13.53% and a market cap of $530,982,141. The coin has unlocked 19.9% of its total supply and is about to unlock an extra 33.33% of tokens worth $177.44m on August 03, 2024. W has an RSI of 42.40, which is in neutral momentum, and the MACD line is trading above the signal line, hinting at a short-term bullish trend.
Conclusion
The token unlocks of several cryptocurrencies, like OP, HNT, PENDLE, W, AKT, and more, could greatly influence the price of their respective tokens and the cryptocurrency market. Investors can better predict the market by staying informed about token unlocks and through technical analysis using indicators like RSI and MACD. By understanding these factors, investors can gain a comprehensive view of the market and make informed decisions.
