- Wormhole: Unlocking 33.33% of tokens on August 3, 2024.
- Mode: 14.25% token release on August 5, 2024.
- Axie Infinity: Limited 1.68% token unlock on July 16, 2024.
A major upheaval awaits the crypto market as significant token unlocks are scheduled across various platforms.
According to IntoTheBlock data, a substantial percentage of the total token supply for several projects will be released into the market. This could potentially impact market dynamics and investor sentiment, as the influx of these tokens might affect liquidity and price movements.
At the forefront is Wormhole, the leading cross-chain blockchain protocol, set to unlock 33.33% of its token supply on August 3, 2024. This event is expected to attract considerable attention from investors and traders.
Mode, a platform offering seamless and efficient blockchain-based financial services, follows with a 14.25% token release slated for August 5, 2024. This substantial unlock would be closely monitored by market participants.
Popular play-to-earn gaming platform Axie Infinity will see a limited unlocking of 1.68% of its token supply on July 16, 2024. Even though the percentage is small compared to other listed projects, Axie Infinity boasts a robust fan base and an active community that might still find the gradual release of tokens noteworthy. This gradual release might be a strategic maneuver to maintain a balanced ecosystem.
Source: IntoTheBlock
The Sandbox, a decentralized metaverse platform, has a 9.07% token unlock slated for August 14, 2024. With its pioneering initiatives in the virtual gaming space, the release of additional tokens could infuse liquidity into new projects and encourage user participation. Investors will be keen to observe how this unlock influences The Sandbox’s growth trajectory.
Avalanche, a blockchain platform, will unlock 2.42% of its token supply on August 20, 2024. Despite being the smallest upcoming unlock, Avalanche’s reputation for scalability and speed makes this event significant. The additional tokens could boost network activity and support growth in the Avalanche ecosystem.
Overall, the scheduled token unlocks for Wormhole, Mode, Axie Infinity, The Sandbox, and Avalanche represent key events that could shape the crypto market in the short term. These events could impact token prices, liquidity, and broader market sentiment. While the unlocking of tokens might signal new opportunities, stakeholders are advised to stay informed and consider these events in their investment strategies.
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