Token

2024

Ethena

<p>The first week of July marked a significant moment in the cryptocurrency space, particularly for investors and market analysts closely monitoring the effects of major token unlocks. <a href="https://www.gate.io/" target="_blank" rel="noopener noreferrer nofollow">Gate.io</a>, a leading cryptocurrency <a href="https://blockchainreporter.net/exchanges/" rel="noopener noreferrer nofollow">exchange</a>, has provided detailed insights into several high-profile token unlocks that will occurr from July 1st to July 7th, influencing market dynamics and investor strategies.</p>
<p>Token unlocks are events where previously locked tokens are released into circulation, allowing holders to sell or transfer their assets as they see fit. These events can lead to increased volatility in token prices due to potential selling pressure or, conversely, increased liquidity and trading activity. The period in question saw significant unlocks across various cryptocurrencies, with substantial sums being released.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">🔓 Major Token Unlocks (July 1 – July 7)<a href="https://twitter.com/hashtag/SUI?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SUI</a> $50.70M<a href="https://twitter.com/hashtag/IO?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#IO</a> $26.62M<a href="https://twitter.com/hashtag/DYDX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#DYDX</a> $11.30M<a href="https://twitter.com/hashtag/ENA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ENA</a> $7.95M<a href="https://twitter.com/hashtag/PENDLE?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#PENDLE</a> $1.29M<br>…<br>View more token unlocks in the image below!<br>More: <a href="https://t.co/fPWoHaRdFY" target="_blank" rel="noopener noreferrer nofollow">https://t.co/fPWoHaRdFY</a> <a href="https://t.co/EVUARSLfaM" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/EVUARSLfaM</a></p>— Gate.io (@gate_io) <a href="https://twitter.com/gate_io/status/1807776445671829872?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="understanding-the-impact-of-unlock-events">Understanding the Impact of Unlock Events</h2>
<p>During the highlighted week, the tokens unlocked included SUI, which saw $50.70 million released, and IO, with $26.62 million unlocked. Other significant releases included DYDX and Ethena (ENA), with $11.30 million and $7.95 million respectively. Additionally, smaller amounts were unlocked for PENDLE and several other tokens as detailed in the Gate.io report.&nbsp;</p>
<p>This varied range of unlocks offers a snapshot of the broader market activities and the diverse nature of token economics in play across different <a href="https://blockchainreporter.net/blockchain/" rel="noopener noreferrer nofollow">blockchain </a>projects.</p>
<p>The highest unlock by volume was for EGLD, where 90.80% of its total tokens were released, amounting to $638.98K. This was followed closely by EUL, with 87.20% of its tokens becoming available to the market. Such significant releases can lead to dramatic shifts in token valuations, as market supply adjusts to these new availability.</p>
<p>On the other hand, LQTY and GAL also saw high percentages of their tokens unlocked, at 95.80% and 58.70% respectively, but with comparatively lesser monetary values involved.</p>

Crypto Watch: July’s Multi-Million Dollar Token Unlocks, What You Need to Know

Table of Contents

BlockchainReporter

Other articles published on Jul 2, 2024

WorldCoin Onboards EX Apple, Google, Meta, Tesla and X Exec.

SEC Accepts Hashdex’s Crypto ETF Application

BlockDAG Price Soars 1,300%, Fuels $30 by 2030 Forecast; Kaspa Climbs 13.6% – Examining Chainlink...

Brett Price Prediction: Is a NEW All-Time High Coming Soon?

Analyst Forecasts Solana Rising To Third In Market With ETF Hype; Buy Now?

Transforming Online Gambling and Community Engagement: Mpeppe (MPEPE) Unveils Strategic Innovatio...

Join our free newsletter for daily crypto updates!