thenewscrypto.com
- This week’s anticipated token unlocks could significantly impact crypto market prices.
- AGIX, GAL, DYDX, OP, EUL, NYM, 1INCH, HBAR, and ACA tokens will undergo substantial unlocking.
- In the past 24 hours, the price of dydx has surged by 4%, trading at $2.16.
This week is poised to bring about a wave of significant token unlocks that could potentially impact prices and trading dynamics in the crypto market. According to Token Unlocks, several notable tokens are scheduled to experience substantial unlocks, leading to heightened anticipation and speculation within the crypto community.
Tokens such as AGIX, GAL, DYDX, OP, EUL, NYM, 1INCH, HBAR, and ACA are among those scheduled for unlocking. This mass unlocking event has captured the attention of both traders and enthusiasts alike as the market braces itself for potential fluctuations driven by the increased availability of these tokens.
One of the highlights of the week’s unlocks is dYdX’s release of 6.52 million DYDX tokens, which translates to approximately $14.41 million at the current price. The unlocking of these tokens is expected to inject considerable volume into the market. That potentially influencing trading patterns and investment strategies.
Optimism is gearing up for another substantial unlock, releasing 24.16 million OP tokens worth around $35.03 million hitting the market. Hedera’s unlocking of 1.15 billion HBAR tokens, amounting to approximately $67.23 million. Also, Hedera’s unlock has garnered attention for its potential effects on its market standing and ecosystem development.
Current Market Status
According to CoinMarketCap, the price of dydx has shown a 4% increase in the last 24 hours, trading at $2.16, accompanied by a significant 104% surge in its daily trading volume, now standing at $80 million. Notably, dydx has experienced a remarkable surge of over 13% in the previous week. However, despite these positive trends for dydx, other cryptocurrencies that are on the brink of unlocking tokens are currently trading with distinct momentum.
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