Date: Tue, Sept 24, 2024, 02:38 AM GMT
This week in the crypto market, investors are keeping a close eye on major token unlocks as the market shows passive sentiments following the Federal Reserve’s recent rate cut decision. With Bitcoin (BTC) climbing past $63K, a ripple effect has boosted major altcoins, but these upcoming token unlocks could influence market dynamics.
Here are the top token unlocks scheduled for this week:
11. Pendle (PENDLE) – $888.59K
Date: September 24, 2024
Pendle, a DeFi protocol focused on yield tokenization, is set for a token unlock worth nearly $900K. This unlock could influence its price in the short term, as more tokens become available in the market.
2. VENOM (VENOM) – $23.60M
Date: September 25, 2024
The largest token unlock of the week comes from VENOM, with over $23.6 million worth of tokens set to be released. This could create price swings in the VENOM ecosystem as the market absorbs the influx of new tokens.
3. Fetch.AI (FET) – $7.69M
Date: September 26, 2024
Fetch.AI, a platform designed for AI-powered autonomous agents, will see a token unlock worth $7.69 million. Investors will be watching how this impacts its price action, particularly in the rapidly growing AI and blockchain sectors.
4. Yield Guild Games (YGG) – $6.70M
Date: September 27, 2024
YGG, a leading decentralized gaming guild, is unlocking $6.7 million worth of tokens. This event could have implications for its ecosystem, especially with its growing involvement in play-to-earn (P2E) gaming.
5. SingularityNET (AGIX) – $5.96M
Date: September 28, 2024
AGIX, known for its AI-driven decentralized platform, is scheduled for a token unlock of nearly $6 million. The AI sector remains a hot topic, and this unlock could influence AGIX’s price, depending on market demand.
While these token unlocks represent major events in the coming days, it’s crucial for investors to monitor how the market reacts. Token unlocks often introduce volatility as they increase the circulating supply of tokens, which can either lead to selling pressure or new buying opportunities.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions. decisions.