Crypto News– As outlined by Top 7 ICO, a prominent crypto analytics platform, the upcoming week is poised for significant unlock events involving some of the most notable crypto tokens.
7 Crypto Tokens Poised for Release in the Next 7 Days
Noteworthy mentions in this anticipated lineup include DYDX, IMX, OP, SUI, 1INCH, AXL, and HBAR. The platform underscores the importance of vigilance among cryptocurrency traders, emphasizing that monitoring vested tokens and forthcoming unlock events can empower traders to make more informed and ultimately advantageous trading decisions.
dYdX (DYDX)
The DYDX token serves as the L1 protocol token within the dYdX Chain ecosystem. Holders of DYDX tokens have the ability to employ them for running a Validator or can choose to stake their tokens to a Validator, actively participating in both securing and governing the dYdX Chain network. According to a recent update from Top 7 ICO, dYdX is scheduled to unlock 15% of its total supply on December 1st, with the estimated value of the released tokens reaching approximately $482.5 million.
Immutable (IMX)
As reported by Top 7 ICO, an unlocking event for IMX is on the horizon, with 1.87% of its total supply set to be released on December 1st. The estimated value of the unlocked tokens is approximately $50.3 million. IMX holds the status of being the native token for Immutable, marking the platform as the inaugural L2 scaling solution designed for NFTs on the Ethereum network.
Optimism (OP)
Top 7 ICO has reported that the next token unlock for Optimism is slated for November 30. This event is anticipated to introduce 0.56% of OP’s total supply, amounting to approximately $41.5 million, into the cryptocurrency market. Optimism functions as an L2 blockchain built on Ethereum, employing Optimistic Rollups to scale the ecosystem.
Sui (SUI)
Sui (SUI) was developed as a blockchain solution with the aim of providing a swift, private, secure, and accessible means of digital asset ownership for all. As indicated by Top 7 ICO, an unlocking event for SUI is scheduled for December 3, involving 0.69% of SUI’s total supply, estimated at $40.9 million.
1inch Network (1INCH)
As outlined in a recent post by Top 7 ICO, the 1inch Network is gearing up for an unlocking event on December 1. A substantial 6.58% of its total token supply, valued at approximately $33.7 million, is set to be unleashed. This move is expected to notably augment the circulating supply of the native token within the blockchain, designed to unite decentralized protocols.
Axelar (AXL)
Axelar, a blockchain solution focusing on providing secure cross-chain communication for Web3, executed a token unlock on November 27. The project introduced 2.31% of its total supply, valued at $18.7 million, into the cryptocurrency market. Post the token unlock, AXL experienced an 11% depreciation in its value, with the price declining from $0.7853 to $0.6861, as per data from TradingView.
Hedera (HBAR)
Hedera is set to introduce new HBAR tokens, accounting for 0.36% of its total supply, approximately $11.1 million, into the cryptocurrency market on December 1, as reported by Top 7 ICO. Renowned as an enterprise-grade public network, Hedera serves as a platform for the decentralized economy, enabling individuals and businesses to develop robust decentralized applications (DApps).
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