Token unlocks are pivotal events in the cryptocurrency lifecycle, significantly impacting a token’s supply and demand dynamics. These events refer to the scheduled release of locked tokens into the market. As new tokens become available, investors and stakeholders closely monitor these events for potential market fluctuations. Typically outlined in a project’s roadmap, token unlocks distribute tokens to early investors and team members or upon reaching specific project milestones. By closely following the events, one can better anticipate market movements and identify strategic investment opportunities.
Upcoming Token Unlocks
ENA
Based on the data from CoinMarketCap, Ethena’s price was $0.3996 at the time of publication, and it had increased 3.56% in the last 24 hours. The coin has a market cap of $683,898,374 and a volume (24h) of $69,565,551, which has increased by 5.85%. It had a circulating supply of 1,710,937,500 ENA and has unlocked 8.5% of its total supply, which adds up to 1,282,652,145.14 ENA. ENA is about to unlock an additional 0.87% of tokens worth $5.63m on 14 July 2024.
ENA’s RSI was 33.83, nearing oversold momentum. The MACD line was trading above the signal line, signaling a bullish trend. The coin increased 6.05% in 7 days.
OP
Optimism was trading at $1.71 with a 1-day increase of 2.59% at press time. It has a market cap of $1,915,120,219 and a 24-hour volume of $201,243,355. Furthermore, the coin has unlocked 1,165,330,165.80 OP tokens, which represents 27.1% of the total supply and has a circulating supply of 1.12B OP. On 15 July 2024, OP will unlock 0.89% of tokens worth $16.90m.
The Relative Strength Index of OP stands at 47.78 indicating neutral momentum and the Moving Average Convergence Divergence line is trading above the signal line, suggesting a bullish trend. Based on the data over the last seven days the price of coin has increased by 28.29%.
Analyzing XRP’s Rally: Will $0.5605 Be the Next Target?STRK
At the time of writing, Starknet’s coin price stood at $0.5634, with a single-day decline of 0.14%. The coin has a volume (24h) of $39,046,152 and a market cap of $822,611,144. It also has a 7-day gain of 10.45% and a circulating supply of 1,460,140,491 STRK. STRK has unlocked 9.1% of its total supply, which is about 911,785,318.17 STRK, and is about to unlock an additional 4.92% of tokens worth $34.64m on 15 July 2024.
STRK has an RSI of 33.69, meaning the coin is in neutral momentum but nearing the oversold territory. The MACD line is trading above the signal line, which represents a bullish trend.
RNDR
Render had a price of $6.15 with a 1-day increase of 2.95 at the time of publication. It had a trading volume (24h) of $155,271,638 and a market cap of $2,402,611,085. The coin had a circulation of 390,859,381 RNDR and has unlocked 308,688,343.00 RNDR, which is about 47.9% of its supply. On 16 July 2024, RNDR will unlock an extra 0.19% of the token worth $4.68m.
RNDR has a Relative Strength Index of 37.26, which means it is neither overbought nor oversold and is in neutral momentum. The Moving Average Convergence Divergence indicates a bearish trend, and over the last seven days, the price of the coin has decreased by 8.60%.
ARB
At the time of writing, Arbitrum had a price of $0.702 and a market cap of $2,253,308,291. It had a 1-day increase of 0.34%, a 7-day rise of 12.88%, and a 24-hour volume of $132,060,869. The coin has already unlocked 30.56% of its token supply and has a circulating supply of $2,255,810,390. ARB is about to unlock an additional 2.87% of its supply worth $64.63m on 16 July 2024.
Arbitrum’s RSI is 39.06, indicating neutral momentum, and the MACD line is above the signal line, signaling a bullish trend.
AXS
At press time, Axie Infinity was trading at $5.53, with a 24-hour increase of 3.77% and a volume of $27,410,930. The coin had a market cap of $816,657,509 and a circulation supply of 147,792,132 AXS. AXS has already unlocked 78.0% of tokens, which is 210,846,031.67 AXS, and will unlock an additional 1.66% of tokens worth $13.53m on 16 July 2024.
Axie Infinity has a Relative Strength Index of 44.24, suggesting neutral momentum. The MACD line is trading above the signal line, indicating a bullish trend, and the coin’s price has increased by 11.69% over the last seven days.
APE
At the time of publication, the price of ApeCoin was $0.7325 and had a market cap of $443,096,321. The coin had a volume (24h) of $35,821,032, a 7-day increase of 2.41%, and a circulation supply of 604,895,833 APE. It has already unlocked 682,902,462.00 APE, which accounts for 68.2% of the token supply, and on 17 July 2024, it will unlock 2.31% of tokens worth $11.42m.
The coin has an RSI of 34.52, indicating that its momentum is near the oversold territory and the MACD is pointing towards a possible bullish trend.
ASTR
Astar has a price of $0.07027 at the time of writing and a 24-hour volume of $19,561,107. It has a market cap of $473,309,485, a circulation supply of 7,014,220,110 ASTR, and 53.1% of tokens, which is about 4,248,611,111.00 ASTR, have been unlocked. The Relative Strength Index of the coin is 46.64, suggesting that the coin is in neutral momentum. The Moving Average Convergence Divergence line is trading above the signal line, representing a bullish trend. On 17 July 2024, the coin will unlock an additional 0.14% of tokens worth $656.28k.
PENDLE
Pendle was trading at $3.77 at press time and had risen 4.69% in seven days. The coin had a volume of $50,376,448 and a market cap of $584,150,373. It has unlocked 274,023,910.91 PENDLE and has a circulation supply of 155,072,917 PENDLE. The coin has an infinite supply, and on 17 July 2024, it will unlock an additional 0.02% of tokens worth $132.89k. It has an RSI of 39.02, which indicates a neutral momentum, and the MACD signals a bearish trend.
Chainlink Sees Major Accumulation by Key Investors Amid Market Rebound1INCH
At the time of publication, 1inch Network had a price of $0.4173 and a 24-hour volume of $24,293,478. It has a circulation supply of 1,254,111,772 1INCH and a market cap of $508,876,007. About 1,285,338,815.37 1INCH tokens have been unlocked, which represents 85.6% of the total supply, and is about to unlock 0.03% of additional tokens worth $147.93 on 19 July 2024. The coin has a Relative Strength Index of 51.53, which is in neutral momentum, and the Moving Average Convergence Divergence points to a bullish trend.
Conclusion
Integrating knowledge of token unlocks with technical analysis equips traders with the insights needed to navigate market trends, manage risks, and make informed investment decisions. Staying informed about token unlocks, along with conducting thorough research on indicators like RSI and MACD, allows investors to better predict price changes, manage risks, and make strategic decisions. By understanding these factors, investors can gain a comprehensive view of the market, helping them to make more informed and strategic investment choices.
