Volatility on cryptocurrency market might surge as we will witness series of large unlocks
, a slew of tokens, including AGIX, GAL, DYDX, OP, EUL, NYM, 1INCH, HBAR and ACA are set for a massive unlock.
The numbers are staggering: dYdX is unlocking 6.52 million DYDX tokens valued at $14.41 million, Optimism will free up 24.16 million OP tokens worth $35.03 million, and Hedera is unlocking a whopping 1.15 billion HBAR tokens, equivalent to $67.23 million.Token unlocks can have a variety of effects on the market, depending on several factors like liquidity, demand and investor sentiment. For tokens with high liquidity, the impact of an unlock is often minimal.
. However, for less liquid tokens, an unlock can lead to increased selling pressure, potentially driving down prices.Hedera's massive unlock of 1.15 billion HBAR tokens is particularly noteworthy. Given its market cap and liquidity, it is less likely to experience a drastic price drop. However, investors should still exercise caution and monitor the market closely.
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