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- This week’s expected token unlocks may have a considerable effect on cryptocurrency market values.
- AGIX, GAL, DYDX, OP, EUL, NYM, 1INCH, HBAR, and ACA tokens are set to undergo significant unlocking.
- In the last 24 hours, the price of dydx has increased by 4%, currently trading at $2.16.
This week is anticipated to usher in a series of major token unlocks that could influence prices and trading behaviors in the cryptocurrency market. As per Token Unlocks, various prominent tokens are slated to undergo substantial unlocks, creating increased excitement and speculation within the crypto community.
Tokens including AGIX, GAL, DYDX, OP, EUL, NYM, 1INCH, HBAR, and ACA are set for unlocking. This large-scale unlocking event has drawn the interest of both traders and enthusiasts as the market prepares for potential shifts due to the increased accessibility of these tokens.
Upcoming Token Unlocks (Source: Token Unlocks)
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A standout event among this week’s unlocks is dYdX’s release of 6.52 million DYDX tokens, valued at approximately $14.41 million based on current prices. The unlocking of these tokens is anticipated to bring significant volume into the market, potentially affecting trading habits and investment decisions.
Optimism is also preparing for another major unlock, with the release of 24.16 million OP tokens, worth about $35.03 million hitting the market. Additionally, Hedera’s unlocking of 1.15 billion HBAR tokens, valued at around $67.23 million, has attracted attention for its potential impact on its market position and ecosystem development.
Current Market Status
As reported by CoinMarketCap, the price of dydx has noted a 4% rise in the past 24 hours, trading at $2.16, alongside a notable 104% increase in its daily trading volume, which now stands at $80 million. Remarkably, dydx has achieved a significant rise of over 13% in the past week. Nevertheless, despite these favorable trends for dydx, other cryptocurrencies poised for token unlocks are currently trading with varying momentum.
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