We tell you which tokens will be unlocked in the coming week, and how major unlocks can affect market dynamics
Unlock (English). unlock) is the unlocking of tokens that were previously frozen under the terms of investment rounds or other programs to attract financing.
Usually the team carefully works out tokenomics so as not to cause a lot of selling pressure at various stages of the unlock and thereby not bring down the price of the token. However, some factors, for example, a lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked, can seriously affect the asset’s quotes.
The BeInCrypto editors have selected 4 important unlocks to watch next week.
1. Space ID (ID)
Unlock date: April 22 Number of tokens unlocked: 18,490,000 ID Current circulating supply: 430,506,132 ID
Space ID is a universal decentralized identification protocol that connects people, assets and dApps across different blockchains. The platform allows you to use one domain name to represent your identity across all separate applications and networks. On April 22, the project will unlock more than 78 million ID tokens, which will be distributed between the Space ID Foundation and participants in several rounds of sales.
Read also: Whales are buying Ethereum, Uniswap and Space ID
2. Cartesi (CTSI)
Unlock Date: April 23 Number of Tokens Unlocked: 21,430,000 CTSI Current Circulating Supply: 785,660,538 CTSI
The Cartesi project allows complex and intensive computing to be performed in a Linux environment, off-chain, without sacrificing decentralization. It aims to make DApps significantly more powerful, easier to develop, and more portable, while also providing massive scalability and convenience for developers and users of decentralized applications.
More than 20 million CTSI tokens, which will be unlocked next week, will be divided among the project team members.
3. Yield Guild Games (YGG)
Unlock Date: April 27 Number of Tokens Unlocked: 16,690,000 YGG Current Circulating Supply: 313,172,139 YGG
Yield Guild Games is a gaming community focused on blockchain games with a play-to-earn model. It brings together users from all over the world investing in NFT assets. The native token of the YGG platform is used to pay for services within the network. It can also be staked to earn rewards, used to unlock exclusive content on the Discord server, or used for voting.. The tokens, which will be unfrozen in a few days, will be distributed among the community, developers, investors and treasury.
Read also: Top Play-to-Earn coins of 2024
4. SingularityNET (AGIX)
Unlock date: April 28 Number of tokens unlocked: 8,840,000 AGIX Current circulating supply: 1,282,094,972 AGIZ
SingularityNET is a decentralized blockchain platform for creating applications based on artificial intelligence (AI). The native token of the AGIX project is used to pay for services, and node operators receive a portion of the fees as compensation for their contribution to the maintenance and development of the network. The coins unlocked on April 28 will be distributed among participants in the AGIX-ADA rewards program.