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Several notable token unlocks are scheduled for the end of August and the beginning of September, potentially impacting various cryptocurrency markets. According to PHOENIX, a crypto media outlet, one of the first major unlocks will involve Litentry ($LIT) on August 29, with 1.59 million tokens being released. This massive tokens unlock could lead to changes in the price and flow of $LIT, which indicates its rate of exchange on the market.
MAJOR UPCOMING TOKEN UNLOCKS
— PHOENIX – Crypto News & Analytics (@pnxgrp) August 29, 2024
#Litentry $LIT #Portal $PORTAL #Worldcoin $WLD #BwareLabs $INFRA #EchelonPrime $PRIME #Optimism $OP #dYdX $DYDX #MixMob $MXM #HookedProtocol $HOOK pic.twitter.com/0MqedYrNDJ
Portal ($PORTAL) to Unlock 24.6M Tokens on August 29
On the same day, Portal ($PORTAL) will release 24.6 million tokens. It is expected that such a substantial provided will cause changes in the overall trading volume of the token and in the dynamics of the market. Also, there are several tokens that are planned to be unlocked on the same day, including Worldcoin ($WLD) which is to release 5.02 million tokens on August 29 that can also influence the token on this day.
The next day, August 30, BwareLabs ($INFRA) will release 3.36 million tokens. This release can be also a cause of changes in the market sentiment regarding $INFRA and its trading behavior. Besides the unlocks above, there are several more on the release date of August 31. EchelonPrime ($PRIME) will unlock 751,900 tokens, while Optimism ($OP) is set to release 32.2 million tokens. Both of these events are anticipated to have very significant impacts on their respective markets.
$DYDX, $MXM, $HOOK Token Unlocks Set for September 1
These token unlocks will continue well into September and include dYdX ($DYDX), which is scheduled to release 8.33 million tokens on Sep 1. On the same day, MixMob ($MXM) will unlock 19.71 million tokens, and HookedProtocol ($HOOK) will unlock another 8.33 million tokens. These unlocks are expected to affect the liquidity and market behavior of these tokens, Therefore, these are significant events to consider for investors.
Ultimately, these upcoming token unlocks, sourced from PHOENIX, attract great attention in the cryptocurrency community because they may affect tokens’ prices and the whole market sentiment. It is suggested that investors should keep in touch with these events to forecast future changes in the market.