Upcoming Token Unlocks for Venom, YGG, AGIX and More

Upcoming Token Unlocks Impacting Cryptocurrency Markets

As the cryptocurrency landscape continues to evolve, several significant token unlocks are set to take place in the upcoming week. These unlocks are poised to affect various currencies, including Venom (VENOM), Yield Guild Games (YGG), SingularityNET (AGIX), and Ethena (ENA). In this article, we explore how these changes may influence market dynamics.

Token Unlock Overview

Token unlocks occur regularly in the cryptocurrency ecosystem, resulting in increased circulating supply. The following tokens are scheduled for release:

• Venom (VENOM): Unlocking approximately 235 million tokens on September 25 at 4 PM UTC+8, equating to 12.66% of its circulating supply, valued at about $26.1 million.
• Yield Guild Games (YGG): Set to unlock around 14.08 million tokens on September 27 at 10 PM UTC+8, making up 3.65% of its supply, with a valuation of approximately $6.4 million.
• SingularityNET (AGIX): Unlocking about 8.19 million tokens on September 28 at 8 AM UTC+8, which is 1.63% of its circulating supply, with an estimated value of $5.8 million.
• Ethena (ENA): Will release around 8.19 million tokens on September 29 at 3 PM UTC+8, accounting for 0.78% of its supply, valued at about $3.9 million.
• Galxe (GAL): Unlocking approximately 416,000 tokens on September 24 at 8 AM UTC+8, equaling 0.33% of its circulating supply, valued at around $980,000.
• Acala (ACA): Expected to unlock around 4.66 million tokens on September 25 at 8 AM UTC+8, representing 0.43% of the circulating supply, valued at approximately $300,000.
• Tornado Cash (TORN): Unlocking roughly 91,600 tokens on September 28 at 11:30 AM UTC+8, which is 2.41% of its supply, valued at about $240,000.
• Euler (EUL): Set to unlock approximately 42,000 tokens on September 27 at 8:47 AM UTC+8, representing 0.23% of its circulating supply, valued around $190,000.

Impact of Token Unlocking

The potential impact of these unlocks extends beyond mere numbers. With increased circulating supply, market dynamics can shift significantly. Investors should be wary of possible volatility that can result from these unlocks, which can either create buying opportunities or induce sell-offs in particular tokens.

Conclusion

As September 2023 unfolds, staying informed about these token unlocks is crucial for cryptocurrency investors. Understanding the implications of the upcoming releases can empower traders to make informed decisions in a rapidly changing market.

Stay Updated

To follow further developments in cryptocurrency, be sure to check back for updates and analysis.