Cryptocurrency News
A multi-billion dollar unfrozen event shakes the cryptocurrency market. Are investors preparing for a sell-off or a buying opportunity?
Cryptocurrency News
A multi-billion dollar unfrozen event shakes the cryptocurrency market in August… Are investors preparing for a sell-off or a buying opportunity?
Data from the Tokenomist platform indicates that the cryptocurrency market is on the brink of receiving massive unfrozen operations during August, amounting to $3 billion, which represents a 52% decrease compared to July, which saw the launch of tokens worth $6.3 billion.
Despite the overall decline, several anticipated unfrozen events for prominent projects could cause noticeable fluctuations in the market. Leading the list is the Sui coin, which will release tokens worth $167.62 million on August 1, marking the largest operation for this month. Observers warn that this move could pressure the coin's price as 65.5% of its supply remains locked, meaning that the sudden increase in supply could lead to a sell-off.
Following is the Fasttoken coin, which is set to unfreeze $91.6 million on August 18, but its impact is expected to be limited, as over 94% of its supply is already in circulation.
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