Tokens ENA, IMX, MOVE, along with many others, will have a significant unlock event in the first week of August 2024, with a considerable amount of tokens added to the market.

These unlocks can affect the circulating supply and market value of the tokens, reflecting important movements in the issuance or distribution cycle of digital assets.

MAIN CONTENT

  • Token ENA will unlock 172 million tokens, valued at approximately 95.8 million USD.

  • IMX and MOVE will unlock 24.52 million and 50 million tokens, valued at approximately 12.2 million and 6.5 million USD, respectively.

  • Many other tokens such as SXT, MAVIA, SPEC, RENDER, IOTA, EigenCloud will also unlock this week.

Which tokens will be unlocked in the first week of August 2024?

The list of unlocked tokens includes ENA, IMX, MOVE, and many others with a large number of tokens unlocked according to Token Unlocks data.

Specifically, Ethena (ENA) will unlock approximately 172 million tokens equivalent to 2.70% of the current circulating supply, with an estimated value of nearly 95.8 million USD on 5/8 at 14:00 Vietnam time (according to Beijing time). Immutable (IMX) unlocks 24.52 million tokens (1.30% of total supply), valued at approximately 12.2 million USD at 7:00 AM on 8/8. Movement (MOVE) unlocks 50 million tokens (1.89%), valued at 6.5 million USD at 7:00 PM on 9/8.

This unlock event occurs simultaneously with other tokens such as Space and Time (SXT), Heroes of Mavia (MAVIA), Spectral (SPEC), Render (RENDER), IOTA, EigenCloud, and GoGoPool (GGP), creating a notable change in circulating supply.

How does the token unlock impact the market and investors?

Unlocking a large amount of tokens can affect liquidity and selling pressure in the market, thereby impacting the value of the tokens.

In addition to increasing the circulating token supply, investors need to carefully evaluate the purpose of the unlock, such as distribution to collaborators, developers, or reserve funds. Large unlocks such as ENA with 2.70% of total supply can cause price volatility in the short term due to increased selling pressure.

However, if token recipients tend to hold long-term (HODL), the negative impact on price will be minimized. Therefore, investors need to closely monitor unlock events to actively manage risks.

Monitoring token unlocks is very important to predict market volatility and have appropriate investment strategies.

Cryptocurrency market analyst, 2024

What is the detailed list of tokens and the expected amount of tokens to be unlocked this week?

Below is a summary table of tokens that will be unlocked in the first week of August according to updated data:

Token Unlock Date & Time (Vietnam Time) Amount of Tokens Unlocked % Circulating Supply Estimated Value (USD) Ethena (ENA) 5/8, 14:00 172 million 2.70% 95.8 million Immutable (IMX) 8/8, 07:00 24.52 million 1.30% 12.2 million Movement (MOVE) 9/8, 19:00 50 million 1.89% 6.5 million Space and Time (SXT) 8/8, 20:00 24.64 million – 2 million Heroes of Mavia (MAVIA) 6/8, 07:00 11.89 million 23.03% 1.9 million Spectral (SPEC) 5/8, 07:00 3.62 million 17.57% 1.8 million Render (RENDER) 10/8, 07:00 492,000 0.09% 1.7 million IOTA (IOTA) 4/8, 07:00 8.63 million 0.22% 1.6 million EigenCloud (EigenLayer) 6/8, 02:00 1.29 million 0.40% 1.4 million GoGoPool (GGP) 4/8, 07:00 750,000 10.60% 1.2 million

Frequently Asked Questions

1. What is a token unlock and what is its effect?

Token unlock is the process of releasing a certain amount of tokens into the market, increasing circulating supply, which can affect price and liquidity.

2. Why is it important to pay attention to the timing of token unlocks?

Unlock timing helps investors forecast selling pressure and adjust investment strategies accordingly to mitigate risks.

3. What are the largest token unlocks this week?

Ethena (ENA) with 172 million tokens and Movement (MOVE) with 50 million tokens are the most notable unlock events this week.

4. How to mitigate risks from token unlocks?

Investors should monitor the unlock schedule, analyze the purpose of issuance, and the holding or selling trends of the token recipients.

5. Do token unlocks have a long-term impact on price?

Depending on how the token recipients act, whether to hold or sell, the price impact can be short-term or prolonged.

Source: https://tintucbitcoin.com/ena-imx-move-mo-khoa-trieu-usd/

Thank you for reading this article!

Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!