Solar

Cardano

Ethereum Name Service

BlackRock

<div class="finbold">
 <p class="paragraph">Space ID (ID) has a challenging week ahead with a potential sell-off of $123 million worth of tokens. Meanwhile, ID was recently mentioned in Finbold’s sell signal due to an overbought status.</p>
 <p class="paragraph">Space ID’s smart contracts will unlock 78.49 million ID worth $123.22 million on March 22, at noon (UTC). Finbold retrieved this data from <em>TokenUnlocksApp</em> on March 20. The project is a domain register and exchange protocol competing with Ethereum Name Service (ENS).</p>
 <p class="paragraph">Notably, Space ID dominates the platform’s total cliff unlocks of $226.95 million for the next seven days by over 54%.</p>
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  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
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 <figure class="wp-block-image size-full"><img decoding="async" width="964" height="454" src="https://cdn.thebittimes.com/images/2024/03/21/e5986624dbd76aa365ccfe1e2e512bd9.webp" alt class="wp-image-162494" srcset="https://cdn.thebittimes.com/images/2024/03/21/e5986624dbd76aa365ccfe1e2e512bd9.webp 964w, https://cdn.thebittimes.com/images/2024/03/21/e5986624dbd76aa365ccfe1e2e512bd9.webp 300w, https://cdn.thebittimes.com/images/2024/03/21/e5986624dbd76aa365ccfe1e2e512bd9.webp 768w" sizes="(max-width: 964px) 100vw, 964px">
  <figcaption class="wp-element-caption">
   Cliff unlocks the next 7D: Space ID (ID). Source: <em>TokenUnlocksApp</em>
  </figcaption>
 </figure>
 <p class="paragraph">In particular, this massive unlock amounts to 16% of the token’s current circulating supply of 485.73 million ID. Additionally, it is 17 times larger than the 30-day exchange volume of $7.13 billion, according to <em>CoinMarketCap</em>.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="113" src="https://cdn.thebittimes.com/images/2024/03/21/5137a3511d7f086b7cbc3358d128d807.webp" alt class="wp-image-162495" srcset="https://cdn.thebittimes.com/images/2024/03/21/5137a3511d7f086b7cbc3358d128d807.webp 1024w, https://cdn.thebittimes.com/images/2024/03/21/5137a3511d7f086b7cbc3358d128d807.webp 300w, https://cdn.thebittimes.com/images/2024/03/21/5137a3511d7f086b7cbc3358d128d807.webp 768w, https://cdn.thebittimes.com/images/2024/03/21/5137a3511d7f086b7cbc3358d128d807.webp 1536w, https://cdn.thebittimes.com/images/2024/03/21/5137a3511d7f086b7cbc3358d128d807.webp 1818w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Space ID (ID) market data. Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-space-id-token-sell-off-distribution"><strong>Space ID token sell-off distribution</strong></h2>
 <p class="paragraph">As for the distribution, Space ID’s team will receive 40.99 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> ID <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s, or 52% of the total <a rel="noopener noreferrer nofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a>ed. This distribution will be split among ‘Ecosystem Fund,’ the ‘Foundation,’ ‘Strategic Sales,’ ‘Marketing,’ and the ‘Team.’</p>
 <p class="paragraph">Furthermore, ‘Seed Sale’ and ‘Advisors’ will increase their stash by 20 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> and 11.67 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> IDs, respectively. This will open for a future <a rel="noopener noreferrer nofollow" title="sell-" href="https://thebittimes.com/tag/sell.html">sell-</a>off threat of over $49.72 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> by these entities alone.</p>
 <p class="paragraph">However, the most liquid unlock will be 5.83 million IDs ($9.16 million) for community airdrop.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="666" height="932" src="https://cdn.thebittimes.com/images/2024/03/21/a268e4c757ca68f8fe01a8e27650c939.webp" alt class="wp-image-162496" srcset="https://cdn.thebittimes.com/images/2024/03/21/a268e4c757ca68f8fe01a8e27650c939.webp 666w, https://cdn.thebittimes.com/images/2024/03/21/a268e4c757ca68f8fe01a8e27650c939.webp 214w" sizes="(max-width: 666px) 100vw, 666px">
  <figcaption class="wp-element-caption">
   March 21 ID unlock distribution. Source: <em>TokenUnlocksApp</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="space-id-price-analysis">Space ID price analysis</h2>
 <p class="paragraph">In the meantime, Space ID is trading at $1.58 per token, up nearly 465% since a price of $0.28 on February 7. ID has seen a remarkable performance in less than two months, which now threatens to retrace.</p>
 <p class="paragraph">Additionally, the daily Relative Strength Index (RSI) points to a sustained overbought status for a long period. In the event of a correction, Space ID could test resistance in the $0.60 region.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/03/21/ebf2f0a27917ec162df9d05efaa3d734.webp" alt class="wp-image-162497" srcset="https://cdn.thebittimes.com/images/2024/03/21/ebf2f0a27917ec162df9d05efaa3d734.webp 1024w, https://cdn.thebittimes.com/images/2024/03/21/ebf2f0a27917ec162df9d05efaa3d734.webp 300w, https://cdn.thebittimes.com/images/2024/03/21/ebf2f0a27917ec162df9d05efaa3d734.webp 768w, https://cdn.thebittimes.com/images/2024/03/21/ebf2f0a27917ec162df9d05efaa3d734.webp 1536w, https://cdn.thebittimes.com/images/2024/03/21/ebf2f0a27917ec162df9d05efaa3d734.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Space ID (ID) daily chart. Source: <em>TradingView</em> (Finbold)
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, there is an imminent sell-off to Space ID after an impressive 2-month performance. Investors could see losses of around 60% if the token visits a price resistance at $0.60. This is a likely scenario considering a massive token unlock, weighted by the asset’s market cap and 30-day volume.</p>
 <p class="paragraph">Cryptocurrency traders must be cautious moving forward and observe further price action of ID, which might suffer from huge volatility.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/major-sell-off-incoming-this-crypto-will-unlock-120-million-in-tokens-tbt83083.html">https://thebittimes.com/major-sell-off-incoming-this-crypto-will-unlock-120-million-in-tokens-tbt83083.html</a></p>

Major sell-off incoming: This crypto will unlock $120 million in tokens

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